Shares of Aveanna Healthcare Holdings Inc. (NASDAQ: AVAH) soared over 20% in pre-market trading on Wednesday, following the company's better-than-expected third-quarter 2024 financial results and raised full-year guidance.
The home healthcare services provider reported adjusted earnings per share of $0.02 for the third quarter, surpassing analysts' expectations of a $0.01 loss per share. Revenue for the quarter came in at $509 million, beating the consensus estimate of $495.8 million, representing a 6.49% increase from the same period last year.
Buoyed by the strong performance, Aveanna raised its full-year 2024 revenue guidance to $2 billion, reflecting the continued growth in demand for its services. The company's solid results and optimistic outlook appear to have fueled investor confidence, driving the significant pre-market rally in its stock price.
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