Enhabit Inc Q3 2025 Earnings Call Transcript

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

Question: Meghan Holtz - Jefferies LLC - Analyst : Good morning. This is Meghan Holtz on for Brian Tanquilut. It's nice to hear you guys had some additional payer negotiations that came out favorable for you guys. So can you provide some color on the rate increase you received from that new one in November and then the pipeline of any additional payer innovation contracts that you have upcoming for renewal?

Question: Meghan Holtz - Jefferies LLC - Analyst : Okay, thank you. And then just a quick follow-up. You guys had nice improvement in the G&A line. Can you provide some color where that expense reduction is coming from? And then how much more runway do you have to reduce and remove some costs in that line?

Question: Christian Borgmeyer, CFA - Cowen and Company LLC - Analyst : Hey. Good morning. This is Christian Borgmeyer. I'm for Ryan Langston. Last year, we saw a pretty big jump in Hospice average length of stay sequentially from 3Q to 4Q. Should we expect a similar tailwind sequentially this year just as a product of seasonality? I'm just curious what seasonal factors drive that as we get to the end of the year.

Question: Christian Borgmeyer, CFA - Cowen and Company LLC - Analyst : Got it. Thank you. And then just one quick one on the payer innovation contract renegotiation. How long is the re-contracting cycle typically? Is it annually, or is it more contract by contract?

Question: Meghan Holtz - Jefferies LLC - Analyst : Thanks. As long as there's no other queues, I'll ask another follow-up. Can you guys just speak to labor in the quarter, specifically if you guys continue to benefit from some of the peers that you saw changing pay structure and you were able to capture some labor there? And then how are you thinking about wage inflation in '26? If you could give some preliminary color there.