Ongoing disruptions from the COVID-19 pandemic walloped Baton Rouge, LA-based Amedisys in the final three months of 2021 and the full year.
Late Wednesday, the company reported diluted per share earnings of $1.18 on revenues of $559.3 million. That compares to earnings per diluted share of $1.49 on revenues of $550.7 million in the same period in 2020. For the full year, Amedisys earned $5.95 a share on $2.2 billion in revenues versus $6.11 a share on $2.07 in revenues in 2020.
“While it is hard to predict when the impacts of COVID-19 will truly subside, we remain very excited about all of the opportunities ahead of us,” Amedisys Chairman and CEO Paul Kusserow said in a press release. “2022 is a year that will set us up to capitalize on the aging demographics of the U.S. population which will position us for accelerated growth in the future.
The upcoming year will be one of transition for Amedisys. Kusserow will retire from the CEO position in April, while remaining board chairman. Chief Operating Officer Chris Gerard will step in as CEO, running the day-to-day operations of the company. Despite the change at the top, the company intends to continue the expansion trend from 2021.
Amedisys expanded its footprint last year with a series of acquisitions, including the purchase of Nashville-based hospital at home company Contessa. It’s continued its buying binge into this year with two acquisitions this month. On Wednesday the company said it would acquire the home health assets of two North Carolina agencies: AssistedCare Home Health and AssistedCare of the Carolinas. Earlier this month, Amedisys announced the acquisition of Dallas-based Evolution Health.
In its earnings report, Amedisys forecast it will earn between $5.23 and $5.45 a share for 2022. The company expects revenues to total between $2.330 and $2.365 billion for the full year.
