Encompass Health Raises Forecast as Revenue and Discharges Grow
Encompass Health reported 9.6% growth in net operating revenue to $1.597 billion and 10.7% higher adjusted EPS to $1.55. It discharged 68,895 patients, with same-store discharges up 2.8%, and added capacity by opening three hospitals totaling 139 beds. Full-year guidance rose across revenue and earnings, while adjusted free cash flow fell 4.8% to $177.0 million as maintenance capex increased; the board also expanded its buyback authorization to $1 billion.