Aveanna Lifts 2025 Revenue to $2.425–2.445B and Adjusted EBITDA to $318–322M; 2026 Revenue Seen at $2.54–2.56B
Aveanna updated FY2025 guidance to revenue of $2.425B–$2.445B, net income of $181M–$220M and adjusted EBITDA of $318M–$322M (normalized EBITDA $298M–$302M). It projects FY2026 revenue of $2.54B–$2.56B and adjusted EBITDA of $318M–$322M.
1. Key Takeaways from 44th Annual J.P. Morgan Healthcare Conference Presentation
At the January 2026 conference, Aveanna Healthcare’s CEO Jeff Shaner and CFO Matt Buckhalter outlined strategic priorities for the home care provider. They emphasized the company’s scale—30,000 caregivers serving patients across 38 states—and noted ongoing investments in technology and staffing to improve care delivery. Management confirmed submission of an 8-K earlier that morning, signaling transparent communication with investors on updated guidance and bridge to normalized Adjusted EBITDA for fiscal 2025.
2. Updated Full Year 2025 Guidance
Aveanna revised its fiscal 2025 revenue expectation to a range of $2.425 billion to $2.445 billion, up from a prior floor of $2.375 billion. Net income is now projected between $181 million and $220 million, while Adjusted EBITDA guidance was lifted to $318 million–$322 million (from above $300 million). Management also introduced a Normalized Adjusted EBITDA metric between $298 million and $302 million, reflecting adjustments for timing impacts in first and second quarters and retroactive rate reimbursements.
3. Initial Full Year 2026 Outlook
For fiscal 2026, Aveanna forecasts revenue between $2.54 billion and $2.56 billion, representing a year-over-year increase of roughly 4 %–5 %. Adjusted EBITDA guidance remains flat at $318 million–$322 million, reflecting anticipated margin pressure from wage inflation and continued investment in caregiver recruitment. The company declined to provide net income guidance due to volatility in fair value adjustments on interest rate swaps and derivatives.
4. Non-GAAP Measures and Reconciliation Detail
Aveanna provided a detailed reconciliation from net income to EBITDA, Adjusted EBITDA, and Normalized Adjusted EBITDA for fiscal 2025. At the midpoint, EBITDA is $253 million, with $68 million of adjustments including $26.4 million of non-cash share-based compensation, $16 million of swap valuation impacts, $8 million in integration costs and $4 million of acquisition-related legal fees. The Normalized Adjusted EBITDA midpoint of $300 million excludes timing impacts of $9 million in Q1 and $11 million in Q2, ensuring comparability of core operating performance.