Aveanna Hits Five-Year High as Q2 Beats and Outlook Raised
AVAH sits 79% above its 52-week low of $5.93.
Summary
Aveanna Healthcare shares surged 18% to $10.68 after Q2 results beat across the board and the company raised its full-year revenue outlook to more than $2.68 billion, up from a prior range of $2.63-$2.65 billion. Revenue rose 14% to $670.5 million, topping the $638.6 million consensus, while adjusted EPS of 22 cents beat the 17-cent estimate. The stock touched a five-year high of $10.91 intraday, reflecting strong demand for the home-care provider's services. This follows the company's June acquisition of Family First Homecare and a recent credit facility repricing that lowered interest costs. The raised guidance and broad-based segment growth suggest the integration is tracking ahead of plan, though significant insider selling by 10% owners in June and July remains a notable overhang.
At the time of this announcement, AVAH was trading at $10.61 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $2.3B. The 52-week trading range was $5.93 to $10.91. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.