Healthcare services company Agilon Health (NYSE: AGL) will be reporting results this Wednesday after market close. Here’s what to expect.
agilon health beat analysts’ revenue expectations last quarter, reporting revenues of $1.57 billion, up 3.1% year on year. It was a mixed quarter for the company, with EBITDA guidance for next quarter exceeding analysts’ expectations but full-year revenue guidance missing analysts’ expectations significantly. It added 8,000 customers to reach a total of 511,000.
Is agilon health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting agilon health’s revenue to decline 10.2% year on year, a further deceleration from the 4.5% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. agilon health has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at agilon health’s peers in the healthcare providers & services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Encompass Health delivered year-on-year revenue growth of 9%, beating analysts’ expectations by 1.2%, and Select Medical reported revenues up 5%, topping estimates by 0.9%. Encompass Health traded up 7.5% following the results while Select Medical’s stock price was unchanged.
Read our full analysis of Encompass Health’s results here and Select Medical’s results here.
There has been positive sentiment among investors in the healthcare providers & services segment, with share prices up 5.7% on average over the last month. agilon health is up 91.8% during the same time and is heading into earnings with an average analyst price target of $20.73 (compared to the current share price of $26.78).
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