Amedisys (AMED) Q2 2025 Financial Results Summary
QuoteReporter
Baton Rouge, Louisiana (July 29, 2025) — Amedisys, Inc. (NASDAQ: AMED) has released its financial results for the second quarter of 2025. Below is a summary of the company’s performance compared to the same quarter in 2024.
## Summary of Financial Results
### Three-Month Periods Ended June 30
– **Net Service Revenue**
– Increased **5.2%** year-over-year to **$621.9 million** (Q2 2024: **$591.2 million**).
– **Net Income Attributable to Amedisys, Inc.**
– Decreased **13.8%** to **$28.1 million** (Q2 2024: **$32.3 million**), which included:
– Merger-related expenses of **$26.3 million** (Q2 2024: **$11.9 million**).
– **Net Income Per Diluted Share**
– Decreased **14.3%** to **$0.84** (Q2 2024: **$0.98**).
– **Adjusted Results**
– **Adjusted EBITDA** increased **10.0%** to **$80.8 million** (Q2 2024: **$73.2 million**).
– **Adjusted Net Income** rose **18.0%** to **$51.4 million** (Q2 2024: **$43.5 million**).
– **Adjusted Net Income Per Diluted Share** increased **16.7%** to **$1.54** (Q2 2024: **$1.32**).
### Six-Month Periods Ended June 30
– **Net Service Revenue**
– Increased **4.6%** to **$1,216.6 million** (6M 2024: **$1,162.6 million**).
– **Net Income Attributable to Amedisys, Inc.**
– Increased **90.8%** to **$89.1 million**, benefiting from a gain of **$48.1 million** on an equity method investment and merger-related expenses totaling **$43.0 million** (6M 2024: **$46.7 million**, merger-related expenses of **$32.6 million**).
– **Net Income Per Diluted Share**
– Increased **88.7%** to **$2.68** (6M 2024: **$1.42**).
– **Adjusted Results**
– **Adjusted EBITDA** increased **12.5%** to **$149.6 million** (6M 2024: **$133.0 million**).
– **Adjusted Net Income** increased **20.0%** to **$93.0 million** (6M 2024: **$77.5 million**).
– **Adjusted Net Income Per Diluted Share** increased **19.2%** to **$2.80** (6M 2024: **$2.35**).
### Additional Information
– **Dividends and Share Repurchase**
– No quarterly dividend was declared during this period.
– There were no announcements regarding share repurchases in the financial results.
### Balance Sheet Highlights (as of June 30, 2025)
– **Total Assets**: **$2.22 billion**, up from **$2.14 billion** as of December 31, 2024.
– **Total Liabilities**: **$940.5 million**, down from **$958.7 million** as of December 31, 2024.
– **Total Equity**: **$1.27 billion**, up from **$1.18 billion**.
### Cash Flow Highlights
– **Net Cash Provided by Operating Activities**: Increased to **$67.2 million** from **$52.3 million** in Q2 2024.
– **Net Cash Used in Investing Activities**: Decreased to **$0.9 million** from **$1.6 million** in Q2 2024.
– **Net Cash Used in Financing Activities**: Decreased to **$13.9 million** from **$14.1 million** in Q2 2024.
### Days Revenue Outstanding (DRO)
– DRO improved to **40.9 days** in Q2 2025, down from **52.1 days** in Q2 2024, indicating improved collection efficiency.
Amedisys, Inc. has opted not to conduct a quarterly earnings call due to the pending merger with UnitedHealth Group Incorporated. Further financial details can be found on the company’s Investor Relations page.
| For the Three-Month Periods Ended June 30, | 2025 | 2024 | For the Six-Month Periods Ended June 30, | 2025 | 2024 |
|---|---|---|---|---|---|
| Net service revenue | $621,861 | $591,187 | $1,216,642 | $1,162,601 | |
| Operating expenses: | |||||
| Cost of service, inclusive of depreciation | 348,470 | 326,933 | 682,520 | 648,470 | |
| General and administrative expenses: | |||||
| Salaries and benefits | 130,322 | 129,323 | 262,290 | 257,269 | |
| Non-cash compensation | 7,266 | 7,828 | 13,489 | 15,261 | |
| Merger-related expenses | 26,277 | 11,901 | 43,046 | 32,568 | |
| Depreciation and amortization | 4,372 | 4,386 | 8,819 | 8,657 | |
| Impairment | 883 | — | 883 | — | |
| Other | 58,693 | 58,602 | 116,658 | 116,543 | |
| Total operating expenses | 576,283 | 538,973 | 1,127,705 | 1,078,768 | |
| Operating income | 45,578 | 52,214 | 88,937 | 83,833 | |
| Other income (expense): | |||||
| Interest income | 3,016 | 1,617 | 5,889 | 3,344 | |
| Interest expense | -6,415 | -7,895 | -12,837 | -16,014 | |
| Equity in earnings from equity method | 1,641 | 1,515 | 3,435 | 2,425 | |
| investments | |||||
| Gain on equity method investment | — | — | 48,093 | — | |
| Miscellaneous, net | 4,506 | 1,779 | 6,014 | 2,869 | |
| Total other income (expense), net | 2,748 | -2,984 | 50,594 | -7,376 | |
| Income before income taxes | 48,326 | 49,230 | 139,531 | 76,457 | |
| Income tax expense | -19,274 | -16,657 | -48,658 | -29,290 | |
| Net income | 29,052 | 32,573 | 90,873 | 47,167 | |
| Net income attributable to noncontrolling interests | -968 | -272 | -1,777 | -466 | |
| Net income attributable to Amedisys, Inc. | $28,084 | $32,301 | $89,096 | $46,701 | |
| Basic earnings per common share: | |||||
| Net income attributable to Amedisys, Inc. common stockholders | $0.85 | $0.99 | $2.71 | $1.43 | |
| Weighted average shares outstanding | 32,849 | 32,706 | 32,822 | 32,688 | |
| Diluted earnings per common share: | |||||
| Net income attributable to Amedisys, Inc. common stockholders | $0.84 | $0.98 | $2.68 | $1.42 | |
| Weighted average shares outstanding | 33,289 | 33,047 | 33,231 | 32,992 |
| June 30, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $337,304 | $303,242 |
| Patient accounts receivable | 295,521 | 296,075 |
| Prepaid expenses | 18,282 | 13,072 |
| Other current assets | 11,091 | 19,694 |
| Total current assets | 662,198 | 632,083 |
| Property and equipment, net of accumulated depreciation of $104,613 and $100,890 | 38,273 | 42,108 |
| Operating lease right of use assets | 86,614 | 81,500 |
| Goodwill | 1,213,888 | 1,213,888 |
| Intangible assets, net of accumulated amortization of $21,134 and $18,787 | 79,243 | 81,155 |
| Other assets | 135,169 | 87,980 |
| Total assets | $2,215,385 | $2,138,714 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $29,789 | $39,956 |
| Payroll and employee benefits | 138,515 | 151,995 |
| Accrued expenses | 150,379 | 152,564 |
| Termination fee paid by UnitedHealth Group | 106,000 | 106,000 |
| Current portion of long-term obligations | 36,799 | 37,968 |
| Current portion of operating lease liabilities | 26,879 | 25,909 |
| Total current liabilities | 488,361 | 514,392 |
| Long-term obligations, less current portion | 326,425 | 339,313 |
| Operating lease liabilities, less current portion | 60,404 | 56,111 |
| Deferred income tax liabilities | 64,445 | 48,051 |
| Other long-term obligations | 847 | 882 |
| Total liabilities | 940,482 | 958,749 |
| Equity: | ||
| Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued or outstanding | — | — |
| Common stock, $0.001 par value, 60,000,000 shares authorized; 38,476,503 and 38,307,521 shares issued; 32,881,262 and 32,776,148 shares outstanding | 38 | 38 |
| Additional paid-in capital | 833,099 | 818,201 |
| Treasury stock, at cost, 5,595,241 and 5,531,373 shares of common stock | -480,859 | -474,854 |
| Retained earnings | 880,252 | 791,156 |
| Total Amedisys, Inc. stockholders’ equity | 1,232,530 | 1,134,541 |
| Noncontrolling interests | 42,373 | 45,424 |
| Total equity | 1,274,903 | 1,179,965 |
| Total liabilities and equity | $2,215,385 | $2,138,714 |
