Enhabit, Inc. (NYSE:EHAB) Q1 2024 Earnings Conference Call May 9, 2024 10:00 AM ET

Company Participants

Barb Jacobsmeyer - President, CEO
Crissy Carlisle - CFO

Conference Call Participants

A.J. Rice - UBS
Jason Cassorla - Citi
Joanna Gajuk - Bank of America
Ryan Langston - TD Cowen

Operator

Good morning, everyone, and welcome to Enhabit Home Health and Hospice's First Quarter 2024 Earnings Conference Call. At this time, I'd like to inform all participants that their lines will be in a listen-only mode. After the speaker's remarks, there will be a question-and-answer period. You will be limited to one question and one follow-up question. Today's conference is being recorded. If you have any objections, you may disconnect at this time.

I will now turn the call over to Crissy Carlisle, Enhabit's Chief Financial Officer. Chrissy, you have a floor.

Crissy Carlisle

Thank you, Operator, and good morning, everyone. Thank you for joining our call today. With me on the call is Barb Jacobsmeyer, President and Chief Executive Officer. Before we begin, if you do not already have a copy of the First Quarter Earnings Release Supplemental Information in related Form 8-K filed with the SEC are available on our website at investors.ehab.com.

On page 2 of the Supplemental Information, you will find the Safe Harbor Statements, which are also set forth on the last page of the earnings release. During the call, we will make forward-looking statements which are subject to risk and uncertainties, many of which are beyond our control.

Certain risks and uncertainties that could cause actual results to differ materially from our projections, estimates, and expectations are discussed in our SEC filings, including our annual report on Form 10-K, which are available on our website. We encourage you to read them. You are cautioned not to place undue reliance on the estimates, projections, guidance, and other forward-looking information presented, which are based on current estimates of future events, and speak only as of today.

We do not undertake a duty to update these forward-looking statements. Our supplemental information and discussion on this call will include certain non-GAAP financial measures. For such measures, reconciliation to the most directly comparable GAAP measure is available at the end of the supplemental information and the Earnings Release.

With that, I'll turn the call over to Barb.

Barb Jacobsmeyer

Thanks, Chrissy. Good morning, and thanks for joining us. Our strong start to 2024 is a result of our team's continued focus on our operational strategies, additional frontline clinicians, more and better home health payer contracts, and controlling G&A expenses were the key drivers of our performance in the first quarter, and resulted in sustained consolidated adjusted EBITDA of $25.3 million in line with last year's first quarter results.