Enhabit Reports 3rd Quarter 2025 Financial Results

Home Health

DALLAS—Enhabit, Inc., a home health and hospice care provider, reported its results of operations for the third quarter ended Sept. 30, 2025.

“Our third quarter results reflect strong execution on our core strategic priorities, with year-over-year growth in revenue, census and Adjusted EBITDA [earnings before interest, taxes, depreciation and amortization],” said Barb Jacobsmeyer, president and CEO of Enhabit. “This progress allowed us to further reduce our bank debt and strengthen the balance sheet during the quarter.”

Quarterly performance highlights included: 

  • Net service revenue of $263.6 million
  • Net income attributable to Enhabit, Inc. of $11.1 million
  • Adjusted EBITDA of $27 million
  • Diluted earnings per share of $0.22
  • Adjusted diluted earnings per share of $0.17

The company also reported a home health year-over-year admissions growth of 3.6% with non-Medicare admissions increasing 10.4%, 4.3% total admission growth when normalized for branches closed in 2025. 

Other major points reviewed included:

  • Home health average daily census (ADC) growth of 3.7% compared to prior year, continued stabilization of Medicare ADC decline, down 1.4%
  • Home health cost per patient day improved year over year
  • Hospice ADC grew 12.6% year over year
  • ADC has increased sequentially every quarter since Q1 2024
  • Hospice admissions increased 1.4% year over year; 3% when normalized for branches closed in 2025
  • Hospice net service revenue of $63.1 million; Adjusted EBITDA increased 72% year over year
  • Hospice cost per patient day decreased 3.1% year over year.
  • Total net service revenue of $263.6 million; consolidated Adjusted EBITDA grew 10.2% year over year and 0.4% sequentially to $27 million
  • Opened two hospice de novo locations
  • Consistent de-levering of balance sheet with the seventh straight quarter of debt prepayment, inclusive of an additional $10 million prepayment made in Q4 of 2025
  • $100 million reduction in total bank debt from Q4 2023, resulting in an annualized $19.2 million cash interest savings
  • Reduced bank debt by $15 million in the quarter, yielding a leverage ratio of 3.9x

OUR DIGITAL PARTNERS