Enhabit, Inc.

CIK:0001803737|SEC Filings

Condensed Consolidated Statements Of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Net service revenue	$ 264.8	$ 259.9
Cost of service, excluding depreciation and amortization	134.2	130.2
General and administrative expenses	96.7	107.5
Depreciation and amortization	4.6	6.3
Operating income (loss)	29.3	15.9
Interest income	3.8	0.0
Interest expense and amortization of debt discounts and fees	10.0	9.4
Other (income) expenses	0.1	(19.3)
Income (loss) before income taxes and noncontrolling interests	23.0	25.8
Provision for (benefit from) income taxes	3.1	7.4
Net income (loss)	19.9	18.4
Less: Net income attributable to noncontrolling interests	0.7	0.6
Net income (loss) attributable to Enhabit, Inc.	$ 19.2	$ 17.8
Weighted average common shares outstanding:
Basic (in shares)	51.2	50.5
Diluted (in shares)	52.9	50.8
Earnings (loss) per common share:
Basic earnings (loss) per share attributable to Enhabit, Inc. common stockholders (in dollars per share)	$ 0.37	$ 0.35
Diluted earnings (loss) per share attributable to Enhabit, Inc. common stockholders (in dollars per share)	$ 0.36	$ 0.35

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net income	$ 19.9	$ 18.4
Adjustments to reconcile net income to net cash provided by operating activities—
Depreciation and amortization	4.6	6.3
Amortization of debt-related costs	2.3	0.4
Loss (gain) on sale of investment and disposal of assets	0.1	(19.3)
Stock-based compensation	3.9	4.0
Deferred income taxes	1.7	1.2
Changes in assets and liabilities, net of acquisitions—
Accounts receivable, net of allowances	(10.4)	(11.7)
Prepaid expenses and other assets	2.7	4.1
Accounts payable	(0.6)	1.4
Accrued payroll	10.5	11.6
Other liabilities	0.5	1.5
Net cash provided by operating activities	35.2	17.9
Cash flows from investing activities:
Purchases of property and equipment, including capitalized software costs	(2.5)	(0.3)
Proceeds from sale of investment	0.0	21.0
Other	(0.1)	0.1
Net cash (used in) provided by investing activities	(2.6)	20.8
Cash flows from financing activities:
Principal payments on term loan facility	(330.0)	(25.0)
Payments on revolving credit facility	(115.0)	0.0
Borrowings on term loan facility	315.0	0.0
Borrowings on revolving credit facility	110.0	0.0
Principal payments under finance lease obligations	(0.6)	(0.8)
Debt issuance costs	(2.0)	0.0
Distributions paid to noncontrolling interests of consolidated affiliates	(0.4)	(0.9)
Other	(3.6)	(1.5)
Net cash used in financing activities	(26.6)	(28.2)
Increase in cash, cash equivalents, and restricted cash	6.0	10.5
Cash, cash equivalents, and restricted cash at beginning of period	45.5	30.3
Cash, cash equivalents, and restricted cash at end of period	$ 51.5	$ 40.8

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 50.0	$ 43.6
Restricted cash	1.5	1.9
Accounts receivable, net of allowances	154.4	144.0
Prepaid expenses and other current assets	13.3	16.1
Total current assets	219.2	205.6
Property and equipment, net	16.7	15.5
Operating lease right-of-use assets	49.7	49.8
Goodwill	855.3	855.3
Intangible assets, net	35.1	38.5
Other long-term assets	2.9	2.4
Total assets	1,178.9	1,167.1
Current liabilities:
Current portion of long-term debt	26.0	22.3
Current operating lease liabilities	12.5	12.6
Accounts payable	8.6	9.2
Accrued payroll	50.9	40.4
Other current liabilities	42.2	41.8
Total current liabilities	140.2	126.3
Long-term debt, net of current portion	402.6	426.0
Long-term operating lease liabilities, net of current portion	39.0	39.1
Deferred income tax liabilities	13.2	11.5
Other long-term liabilities	0.0	0.1
Total liabilities	595.0	603.0
Commitments and contingencies (See Note 6)
Redeemable noncontrolling interests	5.0	5.0
Stockholders’ equity:
Total Enhabit, Inc. stockholders’ equity	553.5	534.0
Noncontrolling interests	25.4	25.1
Total stockholders’ equity	578.9	559.1
Total liabilities and stockholders’ equity	$ 1,178.9	$ 1,167.1