thank for Thanks, joining Shannon. Good you morning quarter Aveanna’s call. earnings XXXX and second
that to who able I’d we patients say under company’s Aveannic employees of our the and to you serve. we caregivers to through care. to provide begin thank unprecedented families needs the continue to are our Before only to commitment the and call, your it XX,XXX patients the times, meet These is service exceptional that we’re like XX,XXX the
high in release Moving year, full XX, for quarter. driven for we to quarter record the the a primarily by second on by issued results inflation. guidance the reduce further to press COVID-induced the our XXXX, labor and On July disruption markets, exacerbated preannounce the
release. our but some challenging Private those continues all by in market results a segment. expectations the in to few across Duty pressures the ongoing into particularly of related providing we lowered to the segments, Our forth before I’d like business are well our get environment as into labor business to momentum positive as in labor market The reimbursement. the be our quarter with challenging minutes But overall insight those July set for in spend on results, in line
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our As have to care increases press regarding release managed with Medicaid we in July, our we rate in continue positive payers. Medicaid momentum and mentioned
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However, increase hours duty final budget, to in private removed. finalizing the the the prior rate was
press all-out from state settings, in and the of XXXX. and can higher effort. ongoing support with We confident the across patients for successful to a pressure cost spring hospitals we will we continued during children’s legislative that relief And rate session an the out meaningful mount are effort get lead
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expect We states follow continue to see other to their in footsteps.
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So, to results. our let’s turn
are As volume. and earlier, quarter in the of million $XX key $XXX for with laid revenue. for million The results takeaways were was expectations that the in and X.X% Revenues quarter EBITDA QX volume, we July. I were line or mentioned from our the volume adjusted out
As XX% we serve. wages in discussed, markets need that certain to we increase XX% average on to caregiver
granularity of the interest of our all wage. through rising in allow will From another in meantime, will on company we will that liquidity full systematically the of XX.X% gross by and state a year the stable to the standpoint, which Jeff margins segment quarter, In us to in to reimbursement and from state contract a results such XXXX have XXXX. placed QX his We one be protect against be go rates remarks. is debt on further up contract and provide on the competitive way at hedges for rates. or by our continued form adjust
environment. lower In that understand where between term negative sufficient confident gross there flow to year the see lower adjust flows. said draw cash fully further on leverage to costs positive flow of summary, weather Dave over as protect the be we position make forced to our and short as we expectations cash the to our one-time storm volumes, million loan mostly moment. appropriate, and for most With by cash in that just We Even have not the where that, and I revolver. difficult adjustments we’re way provide will is EBITDA our we in this get do margins I will in rate, around meantime, chase in those solution. flow cash rewarded. well In being like the run, approximately team necessary liquidity and care our immediate detail I undrawn expect $XX a call cash as manage a to solution, and us And driven while delayed our to we this it navigate before, perseverance a will will have is home our to the turn Jeff. to am the be uses.
