AdaptHealth Corp. — Form 8-K
Filed November 3, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 62/100
What the filing says
AdaptHealth cleared Hart-Scott-Rodino approval for the $235.0 million cash sale of its Diabetes Health business to an unspecified buyer, expected to close in early 2027. The company recorded a $184.8 million pre-tax goodwill impairment charge in Q3 2026 (primarily affecting Respiratory Health and Wellness at Home segments). Q3 revenue grew 10.9% to $745.6 million; adjusted EBITDA declined 2.9% to $141.9 million; free cash flow fell sharply year-to-date to $2.6 million vs. $140.1 million in 2025. Management revised full-year 2026 guidance: revenue $2.88–$2.90 billion (slight increase), adjusted EBITDA $510–$525 million (modest increase), but free cash flow guidance cut to $50–$75 million (from $80–$120 million).
Why this rating
Diabetes Health sale (24% of $1B market cap) is material, but offset by strategic refocus. Goodwill write-down ($185M, ~18.5% of market cap) signals prior valuation error. Free cash flow collapse and guidance downgrade raise operational concerns despite revenue growth.
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