Healthcare services company Agilon Health (NYSE: AGL) will be reporting results this Wednesday after market close. Here’s what you need to know.
agilon health beat analysts’ revenue expectations last quarter, reporting revenues of $1.42 billion, down 7.3% year on year. It was a stunning quarter for the company, with EBITDA guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates. It lost -85,000 customers and ended up with a total of 426,000.
Is agilon health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting agilon health’s revenue to grow 4.2% year on year, a reversal from the 5.9% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. agilon health has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at agilon health’s peers in the healthcare providers & services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Centene delivered year-on-year revenue growth of 9.9%, beating analysts’ expectations by 13.1%, and Tenet Healthcare reported revenues up 6.8%, topping estimates by 3.9%. Centene traded down 3.5% following the results while Tenet Healthcare was up 17.2%.
Read our full analysis of Centene’s results here and Tenet Healthcare’s results here.
Investors in the healthcare providers & services segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. agilon health is down 11.7% during the same time and is heading into earnings with an average analyst price target of $78.14 (compared to the current share price of $94.30).
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