Enhabit Inc Q2 2023 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Andrew Mok - UBS Investment Bank, Research Division - Analyst : Maybe just a follow-up on that last topic, and hate to belabor this. But I still don't fully understand the magnitude of the guidance revision relative to what's going on in the market. I understand that your fee-for-service mix is structurally higher, but that's always been the case. And when you take a step back and look at MA fee-for-service industry growth, it seems relatively in line with industry expectations. MA, I think you said it was down 9% or up 9%, fee-for-service down 4%. You've always meaningfully outperformed the MA penetration in your market. So it does seem like there's something more unique to you. Is the competition for fee-for-service members intensifying? And anything else to point to? I think you also said episodic admissions were expected to accelerate. Just wondering why that was the assumption in the first place?

Question: Andrew Mok - UBS Investment Bank, Research Division - Analyst : Got it. Okay. And most of the color on the guidance revision is focused on the home health side and the mix shift there. But I'm also curious to just hear what's going on in the hospice side. We haven't seen a lot of meaningful progress there. And you mentioned diversifying your mix into shorter length of stay patients. Does that also have a negative profit mix component to it? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 10, 2023 / 2:00PM, EHAB.N - Q2 2023 Enhabit Inc Earnings Call