Apria delivers ‘solid’ quarter
By HME News Staff
Updated 4:47 PM CDT, Thu November 4, 2021
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INDIANAPOLIS – Apria Healthcare reported net revenue of $287.2 million for the third quarter of 2021, up 3.8% compared to $276.8 million one year ago.
For the quarter, net income was $22.8 million, up 300.1% from $5.7 million; adjusted EBITDA was $61 million and adjusted EBITDA less patient equipment capex of $38.9 million.
“We continue to see strong new patient volume for oxygen driven by the Delta variant which we expect to remain at elevated levels compared to historical run rates,” said Dan Starck, CEO. “We also continue to see elevated new patients seeking OSA treatment, and I am proud of the entire Apria team for their perseverance and commitment of effectively working with patients as we manage through the equipment shortages driven by the disruption created by the Philips recall and other supply chain challenges.”
Looking ahead
For the fourth quarter of 2021, Apria is currently projecting the following financial results:
- Net revenue of $282 million to $298 million;
- Adjusted EBITDA of $54 million to $60 million; and
- Adjusted EBITDA less patient equipment capex of $27 million to $31 million.
For the full year 2021, Apria is increasing net revenue guidance to $1.13 billion to $1.15 billion, up from $1.12 billion to $1.15 billion.
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