Enhabit, Inc. · NYSE:EHAB
Enhabit — Bank of America Securities Home Care Conference 2025
10 slides from Enhabit's conference presentation, Dec 9, 2025
Slide 1: Bank of America Securities Home Care Conference Supplemental Information
Bank of America Securities Home Care Conference Supplemental Information December 09, 2025
Slide 2: Disclaimer: Forward looking statements
Enhabit Home Health & Hospice 2 Disclaimer Forward looking statements This presentation contains historical information, as well as forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amen
Slide 3: 2025 Execution Delivered an Emerging Growth Story and Improved Balance Sheet
Enhabit Home Health & Hospice 3 2025 Execution Delivered an Emerging Growth Story and Improved Balance Sheet – Positioning Enhabit for Growth Emerging Growth Story Revenues +1.7% and Adj. EBITDA +7.3% Q3 YTD Improved Leverage and Free Cash Flow Provides Ability to Accelerate Growth via De Novo & Str
Slide 4: Improved Rate Clarity From CMS Final Rule Narrows Rate Headwinds
Enhabit Home Health & Hospice 4 Improved Rate Clarity From CMS Final Rule Narrows Rate Headwinds CMS Final Home Health Rule EHAB Impact Overall final rate update more manageable than proposed with overall negative rate impact of -1.3% Final HH Rule Narrows 2026 Rate Headwind for EHAB to ~$6M to $8M
Slide 5: Illustrative Multi Year Rate Update Framework
Enhabit Home Health & Hospice 5 Illustrative Multi Year Rate Update Framework • CMS estimated the 2026 final rule temporary rate adjustment of -2.7% would recoup ~$460 million of the ~$4.76 billion in estimated overpayments. • Assuming CMS temporary adjustment is repeated in future years, we estimat
Slide 6: Enhabit 2026 Growth Outlook
Enhabit Home Health & Hospice 6 Pricing 2026 pricing impacts to revenue based on 2025 volumes and mix: • Estimated revenue headwind of ~$6M to $8M from impact of final rule on fee for service Medicare and Non-Medicare episodic • Run rate benefit of ~$2M to $3M for improved Medicare Advantage pricing
Slide 7: Reiterating 2025 Guidance
Enhabit Home Health & Hospice 7 Reiterating 2025 Guidance ($ in millions, except per share data) 2025 Current Guidance Net service revenue $1,058 to $1,063 Adjusted EBITDA $106 to $109 Adjusted EPS $0.50 to $0.56 (1) See Appendix for reconciliation of GAAP to Non-GAAP measures. As of December 9, 202
Slide 8: Appendix
enhabit Home Health & Hospice Appendix December 09, 2025
Slide 9: Reconciliation of Net Income (Loss) to Adjusted EBITDA
Enhabit Home Health & Hospice 9 Reconciliation of Net Income (Loss) to Adjusted EBITDA ($ in millions) Three Months Ended Nine Months Ended March 31, June 30, September 30, September 30, 2025 2025 2025 2025 Net income (loss) $18.4 $5.7 $11.6 $35.7 Interest expense and amortization of debt discounts
Slide 10: Reconciliation of Net Cash Provided by Operating Activities to Adjusted Free Cash Flow
Enhabit Home Health & Hospice 10 Reconciliation of Net Cash Provided by Operating Activities to Adjusted Free Cash Flow ($ in millions) Q3 Year-To-Date 2025 2024 2025 2024 Net cash provided by operating activities $37.8 $28.4 $66.3 $55.3 Unusual or nonrecurring items that are not typical of ongoing
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