Encompass Health Corp (EHC) Form 8-K — Aug 5, 2026
Encompass Health reported Q2 2026 net operating revenue of $1,597.4 million, up 9.6% year over year, with Adjusted EBITDA of $348.0 million (+9.2%) and adjusted EPS of $1.55 versus $1.40 a year ago. Discharges rose 5.6% to 68,895, including 2.8% same-store growth. The company raised full-year 2026 guidance to net operating revenue of $6,410-$6,490 million, Adjusted EBITDA of $1,365-$1,395 million, and adjusted EPS of $6.02-$6.25, up from prior ranges of $6,375-$6,470 million, $1,350-$1,380 million, and $5.89-$6.11.
Key figures
- Eps
- 1.55
- Revenue
- 1597400000
- Guidance
- FY2026 updated guidance: net operating revenue $6,410-$6,490 million; Adjusted EBITDA $1,365-$1,395 million; adjusted EPS $6.02-$6.25 (raised from $6,375-$6,470 million, $1,350-$1,380 million, and $5.89-$6.11 respectively)
- Net Income
- 153900000
- Total Debt
- 2634000000
- Revenue Yoy
- 9.6%
- Cash Position
- 107700000
- Hospitals
- 176
- Discharges
- 68895
- Adjusted EPS
- 1.55
- Leverage Ratio
- 2.0x debt to Adjusted EBITDA; 1.9x net of cash
- Adjusted EBITDA
- 348000000
- Gamma Knife Sale
- $17.9 million sale of 50% interest; $17.5 million pre-tax gain recorded in six months 2026
- Repurchased YTD
- $145.8 million (1,411,842 shares)
- Discharge Growth
- 5.6%
- Six Month Revenue
- 3184000000
- Dividend Declared
- $0.21 per share (July 2026, payable October)
- Occupancy Q2 2026
- 77.4%
- Senior Notes Issued
- $500 million of 5.875% Senior Notes due 2034 (May 2026)
- Adjusted EBITDA yoy
- 9.2%
- Preopening Costs Q2
- $6.9 million net
- Cash Tax Guidance2026
- $180-$200 million
- Senior Notes Redeemed
- $400 million of 4.50% Senior Notes due 2028 (June 2026, at par)
- Six Month Adjusted EPS
- 3.15
- Six Month Revenue yoy
- 9.3%
- Buyback Authorization
- $1 billion (increased July 23, 2026)
- Adjusted EPS prior Year
- 1.4
- Bad Debt Reserve Percent
- 2.3% of revenue vs 2.0% prior year
- Six Month Adjusted EBITDA
- 696800000
- Adjusted Free Cash Flow Q2
- 177000000
- Adjusted Free Cash Flow yoy
- -4.8%
- Same Store Discharge Growth
- 2.8%
- Remaining Prior Authorization
- ~$188 million as of June 30, 2026
- Net Income Attributable Total Q2
- Q2 net income $207.4M total; $153.9M attributable to Encompass Health
- Net Patient Revenue Per Discharge
- 22521
Price after filing
Close on the filing date to close N calendar days later (from $110.50). Historical, not a forecast.
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