Companies

Aveanna Raises 2026 Outlook After Second-Quarter Results

The Tip Desk · August 13, 2026 · 3 min read

The home-care company lifted full-year revenue guidance to greater than $2.68 billion and Adjusted EBITDA to greater than $365 million after second-quarter sales of $670.5 million.

Aveanna Healthcare Holdings (AVAH) raised its full-year 2026 revenue outlook to greater than $2.68 billion, from a prior range of $2.63 billion to $2.65 billion, and lifted Adjusted EBITDA guidance to greater than $365 million, from $338 million to $342 million.

The Atlanta-based home-care platform said the increases followed first-half performance and a Family First Homecare acquisition, as well as a repricing of its credit facility. Chief Executive Officer Jeff Shaner said the company was pleased to raise 2026 revenue and Adjusted EBITDA guidance given first-half results and confidence in the outlook.

Year-over-year revenue growth slowed. Sales for the three months ended July 4, 2026, were $670.5 million, up 13.7% from $589.6 million a year earlier, after 15.9% growth in the quarter ended April 4, 2026. Adjusted EBITDA rose 8.0% to $95.4 million, or 14.2% of revenue, from $88.4 million, or 15.0% of revenue, a year earlier, after 25.2% growth in the prior quarter.

Net income was $40.3 million, or 6.0% of revenue, compared with $27.0 million, or 4.6% of revenue, a year earlier. Diluted earnings were $0.18 a share. Adjusted net income was $0.22 a share.

Gross margin was $218.5 million, or 32.6% of revenue, versus $210.8 million, or 35.8% of revenue, a year earlier. Operating income was $79.98 million, or 11.9% of revenue, essentially unchanged from $80.03 million, or 13.6% of revenue, a year earlier. Field contribution was $121.4 million, or 18.1% of revenue.

Pediatric and adult skilled care, the largest reportable segment, generated $553.9 million of revenue, up 14.0% from $486.0 million a year earlier, on 12.3% growth in hours and a 1.7% higher revenue rate. PDS gross margin percentage fell to 28.9% from 32.5% a year earlier, and the spread rate declined 11.1% to $12.88 from $14.29.

Home health and hospice revenue was $69.0 million, up 14.8% from $60.1 million a year earlier. Episodic mix rose to 81.0% from 74.5%. Home health revenue per completed episode was $3,202.

Medical supplies revenue was $47.5 million, up 9.4% from $43.4 million a year earlier, on 4.4% growth in unique patients served and a 5.0% higher revenue rate.

Shaner said second-quarter results reflected organic growth across all three business segments and the Preferred Payor and Government Affairs strategies. Chief Financial Officer Matt Buckhalter said the quarter continued momentum across the three divisions and that the Family First acquisition and credit-facility repricing demonstrated the platform’s strength.

The company did not provide net-income guidance, citing volatility in inputs including future fair-value adjustments on interest-rate caps.

As of July 4, 2026, cash was $97.2 million, with $110.0 million of incremental borrowing capacity under a securitization facility. The revolver was undrawn, with about $225.5 million of borrowing capacity and about $24.5 million of outstanding letters of credit. Total indebtedness was $1,483.4 million. Interest-rate caps covered $520.0 million notional at a 4.00% SOFR cap and $880.0 million notional at a 2.96% SOFR cap.