Hanger, Inc. (HNGR) reported Q1 EPS of ($0.15), in-line with the analyst estimate of ($0.15). Revenue for the quarter came in at $261.3 million versus the consensus estimate of $256.3 million.
GUIDANCE:
Hanger, Inc. sees FY2022 revenue of $1.19-1.22 billion, versus the consensus of $1.21 billion.
- Due in part to favorable same clinic growth trends, the previous incorporation of disallowance trends similar to those experienced in the first quarter and the anticipated temporary nature of certain other costs incurred in the quarter, the Company's outlook for 2022 remains unchanged since its initial announcement on February 7, 2022.
- As previously disclosed, the Company anticipates 2022 net revenue will be in a range between $1.190 billion and $1.220 billion, and Adjusted EBITDA in a range between $127 million and $132 million. The Company’s outlook for 2022 includes approximately $35 million in revenue relating to the full year effect of acquisitions consummated in 2021.
- Adjusted EBITDA in this outlook is provided on a non-GAAP basis only because a reconciliation to the most comparable GAAP financial measure, net income, is not available without unreasonable effort due to the unpredictable nature of reconciling items that render such a reconciliation not meaningful for investors.