XML 26 R14.htm IDEA: XBRL DOCUMENT v3.25.2
Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Enhabit’s two reportable segments, Home Health and Hospice, are based on the major types of services provided by the Company, as described below. The Chief Executive Officer, who is also the Chief Operating Decision Maker, uses these segment groupings and the results of each segment, measured by Segment Adjusted EBITDA, to evaluate performance and allocate resources, primarily during the annual budget process and regular operational performance reviews. Segment assets are not reviewed by the Chief Operating Decision Maker and therefore are not disclosed below.
•Home Health - Enhabit operates home health agencies in 33 states, with a concentration in the southern half of the United States. As of June 30, 2025, the Company operates 249 home health agencies. Enhabit is the sole owner of 238 of these locations. The Company retains 50.0% to 81.0% ownership in the remaining 11 jointly owned locations. Home health services include a comprehensive range of Medicare-certified home nursing services to adult patients in need of care. These services include, among others, skilled nursing, physical, occupational, and speech therapy, medical social work, and home health aide services.
•Hospice - Enhabit’s hospice operations represent one of the nation’s largest providers of Medicare-certified hospice services. The Company operates hospice provider locations in 24 states, with a concentration in the southern half of the United States. As of June 30, 2025, the Company operates 114 hospice provider locations. Enhabit is the sole owner of 110 of these locations. The Company retains 50.0% to 90.0% ownership in the remaining four jointly owned locations. Hospice care focuses on the quality of life for patients who are experiencing an advanced, life limiting illness while treating the person and symptoms of the disease, rather than the disease itself.
The accounting policies of the reportable segments are the same as those described in Note 1, Summary of Significant Accounting Policies. All revenues for services are generated through external customers. See Note 1, Summary of Significant Accounting Policies—Net Service Revenue, for the disaggregation of revenues. No corporate overhead is allocated to either of the reportable segments. Other cost of service is comprised of third-party services and other individually insignificant costs in the Home Health segment. Other cost of service is comprised of medical director, skilled nursing facilities and other individually insignificant costs in the Hospice segment. Other general and administrative expenses is comprised of licensing fees and other individually insignificant fees for both the Home Health and Hospice segments.
Selected financial information for Enhabit’s reportable segments is as follows (in millions):
Home HealthHospice
Three Months Ended June 30,Three Months Ended June 30,
2025202420252024
Net service revenue$205.9 $210.2 $60.2 $50.4 
Labor98.1 97.3 17.6 15.5 
Supplies and pharmacy2.4 2.3 5.4 4.7 
Travel5.2 5.5 1.2 1.2 
Other cost of service1.5 1.8 4.1 3.5 
Total cost of service, excluding depreciation and amortization107.2 106.9 28.3 24.9 
General and administrative salaries46.8 47.7 14.5 13.3 
Other general and administrative expenses12.3 10.9 3.2 3.0 
Total general and administrative expenses59.1 58.6 17.7 16.3 
Net income attributable to noncontrolling interests0.3 0.5 0.2 0.1 
Segment Adjusted EBITDA$39.3 $44.2 $14.0 $9.1 
Home HealthHospice
Six Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Net service revenue$406.5 $423.4 $119.5 $99.6 
Labor192.4 197.1 34.4 30.7 
Supplies and pharmacy4.8 5.1 10.6 9.3 
Travel10.3 11.1 2.4 2.3 
Other cost of service3.1 3.5 7.7 6.9 
Total cost of service, excluding depreciation and amortization210.6 216.8 55.1 49.2 
General and administrative salaries93.5 96.4 28.6 26.2 
Other general and administrative expenses24.0 21.7 6.5 5.8 
Total general and administrative expenses117.5 118.1 35.1 32.0 
Net income attributable to noncontrolling interests0.8 1.1 0.3 0.2 
Segment Adjusted EBITDA$77.6 $87.4 $29.0 $18.2 
Total segment reconciliations (in millions):
Three Months Ended June 30,Six Months Ended
June 30,
2025202420252024
Total Segment Adjusted EBITDA$53.3 $53.3 $106.6 $105.6 
Non-segment general and administrative expenses(27.8)(32.9)(55.5)(63.4)
Interest expense and amortization of debt discounts and fees(8.7)(10.9)(18.1)(22.0)
Depreciation and amortization(5.7)(7.6)(12.0)(15.4)
Gain on sale of investment— — 19.3 — 
Stock-based compensation expense(3.6)(2.2)(7.6)(4.0)
Net income attributable to noncontrolling interests0.5 0.6 1.1 1.3 
Income before income taxes and noncontrolling interests$8.0 $0.3 $33.8 $2.1 
Additional detail regarding the revenues of the operating segments by payer type follows (in millions):
Three Months Ended June 30,Six Months Ended
June 30,
2025202420252024
Home Health:
Medicare $116.0 $121.7 $230.2 $250.0 
Non-Medicare87.8 86.3 172.2 169.0 
Private duty(1)
2.1 2.2 4.1 4.4 
Total Home Health205.9 210.2 406.5 423.4 
Hospice60.2 50.4 119.5 99.6 
Total net service revenue$266.1 $260.6 $526.0 $523.0 
(1)    Private duty represents long-term comprehensive hourly nursing medical care.