10-Q · May 14, 2026
Aveanna Healthcare reported strong Q1 2026 results with revenue of $647.9 million, a 15.9% increase from $559.2 million in Q1 2025, surpassing expectations. Adjusted EPS reached $0.19, well above the consensus estimate…
Earnings analysis · 10-Q
AVAH earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
The supplied excerpt does not contain the current quarter’s income statement, balance sheet, cash-flow statement, segment disclosures, or MD&A, so revenue, margins, EPS, free cash flow, working-capital trends, and…
Read full summary
The supplied excerpt does not contain the current quarter’s income statement, balance sheet, cash-flow statement, segment disclosures, or MD&A, so revenue, margins, EPS, free cash flow, working-capital trends, and segment performance cannot be determined from the available filing text. The principal quantified balance-sheet and market-risk disclosure is $1.5 billion of variable-rate debt, with $1.4 billion covered by interest-rate caps and approximately $83.4 million unhedged. Management reported effective disclosure controls as of July 4, 2026, and stated that there were no material changes to the risk factors from the January 3, 2026 10-K.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Substantial Debt Hedged Against Rates
Variable-rate debt outstanding was $1.5 billion as of July 4, 2026. Interest-rate cap agreements covered an aggregate notional amount of $1.4 billion, including $880.0 million at a 2.96% cap rate and $520.0 million at a 4.00% cap rate.
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Controls Reported Effective
Management reported that disclosure controls and procedures were effective as of July 4, 2026. It also reported no changes in internal control over financial reporting during the three-month period ended July 4, 2026 that materially impacted, or were reasonably likely to materially impact, those controls.
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Limited Unhedged Rate Exposure
The company had approximately $83.4 million of unhedged variable-rate debt as of July 4, 2026. The filing states that a 100-basis-point rate increase would increase annual interest expense by approximately $2.7 million.
What to watch
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Interest-Rate Exposure
The company had $1.5 billion of outstanding variable-rate debt as of July 4, 2026. Although rate caps covered $1.4 billion of notional exposure, a 100-basis-point increase applied to approximately $83.4 million of unhedged variable-rate debt would increase annual interest expense by approximately $2.7 million.
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Hedge Expiration Risk
The 2027 and 2029 interest-rate cap agreements expire on February 28, 2027 and December 31, 2029, respectively. The filing therefore identifies a defined expiration point for part of the company’s rate protection.
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Inherent Control Limitations
The company states that controls provide only reasonable, not absolute, assurance and may be circumvented through individual acts, collusion, or management override. It also states that future evaluations are subject to risks and that controls may become inadequate as conditions change.
Management's outlook
The supplied 10-Q excerpt does not include MD&A, financial statements, or quantitative outlook language. The prior 8-K reported 2026 revenue guidance of $2.63 billion-$2.65 billion, but no current-quarter guidance update is provided here.
Earlier filings 4
10-K · March 19, 2026
Aveanna reports strong 2025 operating performance with revenue of $2,433,000,000 (sum of 2025 quarters), gross margin expansion and an EPS turnaround to $1.05 for the year driven by Q4 2025 revenue of $662,480,000 and…
10-Q · November 6, 2025
Aveanna reported third-quarter revenue of $621.9M (up $112.9M or 22.2% YoY) driven in part by the June 2, 2025 Thrive acquisition. Gross margin was 32.6% and operating margin 8.6%, producing operating income of $53.6M…
10-Q · May 8, 2025
Aveanna reported Q1 revenue of $559.2M, up $68.6M (≈14.0%) versus Q1 2024, with operating income rising to $51.8M (9.3% margin) from $22.9M. The company generated net income of $5.2M (basic EPS $0.03) versus a loss of…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.