Amedisys Inc. (NASDAQ:AMED) Q4 2015 Earnings Conference Call - Final Transcript

Mar 09, 2016 • 11:00 am ET


Amedisys Inc. (NASDAQ:AMED) Q4 2015 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the Amedisys' Fourth Quarter 2015 Earnings Conference Call. [Operator Instructions] I would now like to turn the conference over to your host, David Castille, Managing Director of Finance. Thank you. You may now begin.

David Castille

Thank you, operator. Welcome to the Amedisys' investor conference call to discuss the results of the fourth quarter and year ended December 31, 2015. A copy of our press release, supplemental slides, and related Form 8-K filing with the SEC are available on the Investor Relations page on our website. Speaking on today's call from Amedisys will be Paul Kusserow, President and CEO; and Ronnie LaBorde, Vice Chairman and CFO.

Before we get started with our call, I would like to remind everyone that statements made on this conference call today may constitute forward-looking statements and are protected under the Safe Harbor of the Private Securities Litigation Reform Act. These forward-looking statements are based on information available to Amedisys today. The company assumes no obligation to update the information provided on this call to reflect subsequent events other than as required under applicable securities laws. These forward-looking statements may involve a number of risks and uncertainties, which may cause the company's results or actual outcomes to differ materially from such statements. These risks and uncertainties include factors detailed in our SEC filings, including our Forms 10-K, 10-Q and 8-K.

In addition, as required by SEC Regulation G, a reconciliation of any non-GAAP measures mentioned during our call today to the most comparable GAAP measures will be available on our website on the Investor Relations page under the tab Financial Reports, Non-GAAP.

Thank you. And now, I'll turn the call over to Paul Kusserow.

Paul Kusserow

Thank you, David, and welcome to the Amedisys' Fourth Quarter Conference Call. This morning, I am excited to give you details on our adjusted fourth quarter and full year performance. We reported revenue of $337 million, EBITDA of $28 million, earnings per share of $0.40. Compared to the results for the same period last year, revenue grew 12%, EBITDA grew by 21% and EPS by 48%. Total same-store home health admissions were up 8% and same-store hospice admissions were up 21%. We're seeing these positive trends continue into the first quarter.

For the full year 2015, we generated revenue of $1.3 billion, EBITDA of $112 million and EPS of $1.48. Compared to the results for the same period last year, revenue grew 6%, EBITDA grew by 51% and EPS grew by 103%. We are extremely pleased with our 2015 results, and while we are facing rate headwinds in 2016, we are very optimistic about our ability to continue to improve future performance. Turning to our fourth quarter adjusted segment performance, home health EBITDA increased $3 million year-over-year. We generated 3% same-store Medicare admissions growth and 15% in non-Medicare admissions. On a combined basis, we generated 8% same-store admissions growth in the quarter, demonstrating our ability to grow organically at a significant rate, as we are working to optimize our payor