Aveanna Healthcare Delivers Healthy Gains in Q2

PRISM Emerging Healthcare Index leader Aveanna Healthcare Holdings (AVAH) closed up 32% yesterday after delivering a strong second quarter in 2024, reporting $505.0 million in revenue—a 7.0% increase over the prior year. The home healthcare services company also saw a notable 27.3% rise in Adjusted EBITDA, reaching $45.6 million, underscoring the success of its Strategic Transformation initiatives. Despite a slight decrease in net income compared to last year, Aveanna’s Adjusted Net Income grew by $6.6 million, highlighting improved operational efficiency. With these results, Aveanna has raised its full-year 2024 revenue and Adjusted EBITDA guidance, reflecting positive momentum and confidence in its value-based home care model.

Aveanna’s CEO Jeff Shaner stated during the earnings call, “Based on the strength of our second quarter and year-to-date results and the continued execution of our key strategic initiatives, we now expect full year 2024 revenue to be greater than $1.985 billion and adjusted EBITDA to be greater than $158 million. We believe our enhanced outlook provides a prudent view considering the challenges we still face with the evolving labor market and hopefully, it proves to be conservative as we continue to execute throughout the year.”