Encompass Health Corporation (NYSE: EHC), the largest owner and operator of inpatient rehabilitation hospitals in the United States, reported strong results for the first quarter ended March 31, 2024.
Revenue grew by 13.4% to $1.4 billion, driven primarily by strong discharge growth. Adjusted EBITDA increased by 19.2% to $300.9 million. The Company increased its full-year guidance for Adjusted EBITDA and adjusted earnings per share.
Mark Tarr, President and Chief Executive Officer of Encompass Health, said, “We are pleased with our first-quarter performance. Revenue growth of 13.4% driven primarily by strong discharge growth combined with prudent expense management to drive Adjusted EBITDA growth of 19.2%. Our value proposition and operating strategy continue to be validated and we remain highly optimistic about the long-term prospects of our business.”