false000180373700018037372024-11-062024-11-06

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): November 6, 2024
Enhabit, Inc.
(Exact name of registrant as specified in its charter)

Delaware001-4140647-2409192
(State or other jurisdiction (Commission(IRS Employer
of incorporation) File Number) Identification No.)

6688 N. Central Expressway, Suite 1300, Dallas, Texas 75206
(Address of principal executive offices, including zip code)
(214) 239-6500
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per shareEHABNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
    Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




Item 2.02. Results of Operations and Financial Condition.*
On November 6, 2024, Enhabit, Inc. (the “Company”) issued a press release reporting the financial results of the Company for the quarter ended September 30, 2024 (the “Earnings Press Release”). A copy of the Earnings Press Release is attached to this report as Exhibit 99.1 and incorporated herein by reference.
Item 7.01. Regulation FD Disclosure.*
A copy of the supplemental information which will be discussed during the Company’s earnings call at 10:00 a.m. Eastern Time on Thursday, November 7, 2024, is attached to this report as Exhibit 99.2 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d)    Exhibits.
Exhibit Number
Description
104Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document

* The information in Item 2.02 and 7.01, including Exhibit 99.1 and Exhibit 99.2, is being “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section and shall not be incorporated into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, unless specifically identified as being incorporated therein by reference.


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
ENHABIT, INC.
By:/s/ Dylan C. Black
Name:Dylan C. Black
Title:General Counsel
Dated: November 6, 2024

Exhibit 99.1

enhabit_hhhxlogoxverticalxa.jpg

Enhabit Reports Third Quarter 2024 Financial Results
Company to host a conference call tomorrow, November 7, 2024, at 10 a.m. EST
DALLAS, TX – November 6, 2024 – Enhabit, Inc. (NYSE: EHAB), a leading home health and hospice care provider, today reported its results of operations for the third quarter ended September 30, 2024.
“Our continued progress in our strategies during the third quarter resulted in Adjusted EBITDA growth year over year and strong free cash flow generation that led to further debt reduction,” said Enhabit’s President and Chief Executive Officer Barb Jacobsmeyer. “The payor innovation strategy continues to foster Medicare Advantage growth in our home health segment, and average daily census continues to grow in our hospice segment.”
QUARTERLY PERFORMANCE - CONSOLIDATED
•Net service revenue of $253.6 million
•Net loss attributable to Enhabit, Inc. of $110.2 million
•Adjusted EBITDA of $24.5 million
•Loss per share of $2.20
•Adjusted earnings per share of $0.03
RECENT COMPANY HIGHLIGHTS
•Non-Medicare admissions increased 20.1%, driving total admissions growth of 5.6% year over year
◦45% of non-Medicare visits are now in payor innovation contracts at improved rates
•Home health cost per visit increased 1.1% year over year
•30-day hospital readmission rate in home health is 23.3% better than the national average
•Hospice average daily census increased 6.9% year over year
◦Average daily census increased sequentially every month since January
◦Admissions increased 5.7% year over year
•Hospice cost per day flat year over year
•53.2% better than the national average for hospice patient visits in last days of life
•Consolidated Adjusted EBITDA grew to $24.5 million from $23.2 million, a 5.6% improvement year over year primarily due to home office expense reductions and revenue growth in hospice
•Reduced bank debt by $10 million in the quarter
1

FINANCIAL RESULTS
Consolidated
($ in millions, except per share data)Q3 '24 vs. '23
20242023
Home health net service revenue$201.0$210.9(4.7)%
Hospice net service revenue52.647.411.0%
Total net service revenue$253.6$258.3(1.8)%
% of revenue% of revenue
Cost of service51.9%$131.751.9%$134.0(1.7)%
Gross margin48.1%121.948.1%124.3(1.9)%
General and administrative expenses38.1%96.739.1%101.0(4.3)%
Total operating expenses90.1%$228.491.0%$235.0(2.8)%
Other income—(0.1)
Net income attributable to noncontrolling interests0.70.2
Adjusted EBITDA$24.5$23.25.6%
Adjusted EBITDA margin9.7%9.0%
Impairment of goodwill$107.9$—N/A
Net loss attributable to Enhabit, Inc.$(110.2)$(2.4)(4,491.7)%
Reported diluted EPS $(2.20)$(0.05)(4,300.0)%
Adjusted EPS
$0.03$0.03—%
Consolidated Adjusted EBITDA grew 5.6% year over year primarily due to home office expense reductions and revenue growth in hospice.
Consolidated revenue decreased $4.7 million, or 1.8%, year over year primarily due to lower Medicare volume as a result of lower recertifications in the home health segment.
Our payor innovation strategy continues to foster Medicare Advantage growth. 45% of non-Medicare visits are now in payor innovation contracts at improved rates. Non-Medicare revenue per visit increased from $140 in 2023 to $147 in 2024.
2

SEGMENT RESULTS
Home Health
($ in millions)Q3 '24 vs. '23
20242023
Net service revenue:
Medicare $117.3$141.0(16.8)%
Non-Medicare81.567.420.9%
Private duty(1)
2.22.5(12.0)%
Home health net service revenue201.0210.9(4.7)%
Cost of service105.9110.0(3.7)%
Gross margin47.3%47.8%
General and administrative expenses58.259.0(1.4)%
Other income—(0.1)(100.0)%
Net income attributable to noncontrolling interests0.40.2100.0%
Adjusted EBITDA$36.5$41.8(12.7)%
% Adj. EBITDA margin18.2%19.8%
Operational metrics (actual amounts)
Medicare:
Admissions23,42225,585(8.5)%
Recertifications16,10119,321(16.7)%
Completed episodes38,86644,350(12.4)%
Visits561,525660,380(15.0)%
Visits per episode14.414.9(3.4)%
Revenue per episode$3,018$3,179(5.1)%
Non-Medicare:
Admissions 29,95024,93820.1%
Recertifications14,11213,4115.2%
Visits552,815501,76410.2%
Total:
Admissions53,37250,5235.6%
Same-store total admissions growth
5.5%
Recertifications30,21332,732(7.7)%
Same-store total recertifications growth
(7.8)%
Visits1,114,3401,162,144(4.1)%
Visits per episode14.114.9(5.4)%
Cost per visit$94$931.1%
(1) Private duty represents long-term comprehensive hourly nursing medical care.
Non-Medicare admissions increased 20.1%, driving total admissions growth of 5.6% year over year. Revenue declined $9.9 million, or 4.7%, year over year primarily due to lower Medicare volume as a result of lower recertifications. Revenue per episode in Q3 2023 included a positive impact from changes in our estimated recoverability of net service revenue, leading to a negative year-over-year comparison in 2024.
Adjusted EBITDA decreased $5.3 million, or 12.7%, year over year primarily due to the decrease in revenue. Cost per visit increased 1.1% year over year primarily due to the decrease in visits and merit and market increases, partially offset by a reduction in contract labor and favorable experience in workers' compensation and group medical claims. Year-to-date cost per visit was flat year over year. Visits per episode decreased 5.4% year over year to 14.1 primarily due to our continued focus on establishing a just right plan of care for patients, ongoing clinician education, team collaboration, and the thoughtful integration of predictive analytics.
3

Hospice

($ in millions)Q3 '24 vs. '23
20242023
Net service revenue$52.6$47.411.0%
Cost of service25.824.07.5%
Gross margin51.0%49.4%
General and administrative expenses16.515.75.1%
Net income attributable to noncontrolling interests0.3—N/A
Adjusted EBITDA$10.0$7.729.9%
% Adj. EBITDA margin19.0%16.2%
Operational metrics (actual amounts)
Total admissions3,0462,8825.7%
Same-store total admissions growth4.1%
Patient days333,247311,7196.9%
Discharged average length of stay100107(6.5)%
Average daily census3,6223,3886.9%
Revenue per patient day$158$1523.9%
Cost per patient day$77$77—%
Revenue increased $5.2 million, or 11.0%, year over year due to a 6.9% increase in patient days and increased Medicare reimbursement rates. Admissions increased 5.7% year over year. Revenue per day increased 3.9% year over year primarily due to increased Medicare reimbursement rates. In the third quarter, the Company accrued $1.4 million in Medicare Cap billing limitations compared to $20 thousand in the third quarter of 2023.
Average daily census increased 6.9% year over year. Average daily census increased sequentially every month since January 2024.
Adjusted EBITDA increased $2.3 million, or 29.9%, year over year primarily due to increased revenue. Cost per day was flat year over year.
GUIDANCE
Based on the impact of lower recertifications in the third quarter and the impact from hurricanes in September and October, the Company revised its guidance ranges for full-year 2024.The Company updated its full-year 2024 guidance as follows:
($ in millions, except per share data)
2024 Previous Guidance2024 Updated Guidance
Net service revenue
$1,050 to $1,063$1,031 to $1,046
Adjusted EBITDA
$100 to $106$98 to $102
Adjusted EPS
$0.19 to $0.37$0.19 to $0.29
For additional considerations regarding the Company’s 2024 guidance ranges, see the supplemental information posted on the Company’s website at http://investors.ehab.com.
CONFERENCE CALL INFORMATION
The Company will host an investor conference call at 10 a.m. EST on November 7, 2024 to discuss its results for the third quarter of 2024. To access the live call by phone, dial toll-free (888) 660-6150 or
4

international (929) 203-0843; the conference ID is 5248158. A simultaneous webcast of the call, along with supplemental information, may be accessed by visiting https://events.q4inc.com/attendee/164004764. Following the call, a replay will be available on the Company’s website at http://investors.ehab.com.
ABOUT ENHABIT HOME HEALTH & HOSPICE
Enhabit Home Health & Hospice (Enhabit, Inc.) is a leading national home health and hospice provider working to expand what's possible for patient care in the home. Enhabit’s team of clinicians supports patients and their families where they are most comfortable, with a nationwide footprint spanning 256 home health locations and 112 hospice locations across 34 states. Enhabit leverages advanced technology and compassionate teams to deliver extraordinary patient care. For more information, visit ehab.com.
OTHER INFORMATION
Note regarding presentation and reconciliation of non-GAAP financial measures
The financial data contained in this press release and supplemental information includes non-GAAP (generally accepted accounting principles (GAAP)) financial measures as defined in Regulation G under the Securities Exchange Act of 1934, including Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EPS, and Adjusted free cash flow. See “Supplemental Non-GAAP Information” for reconciliations of the non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP. Additionally, our Form 10-Q for the three and nine months ended September 30, 2024, provides further information regarding “unusual or nonrecurring items that are not typical of ongoing operations,” a reconciliation item in our Adjusted EBITDA calculation. Such non-GAAP financial measures exclude significant components in understanding and assessing financial performance and should therefore not be considered superior to, as a substitute for or alternative to the GAAP financial measures presented in this press release. The non-GAAP financial measures in the press release may differ from similar measures used by other companies.
The Company is unable to reconcile the guidance for Adjusted EBITDA and Adjusted EPS to their corresponding GAAP measures without unreasonable effort due to the inherent difficulty in predicting, with reasonable certainty, the future impact of items that are outside the control of the Company or otherwise non-indicative of its ongoing operating performance. Accordingly, the Company relies on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K. Such items include, but are not limited to, gains or losses related to hedging instruments; loss on early extinguishment of debt; adjustments to its income tax provision (such as valuation allowance adjustments and settlements of income tax claims); and items related to corporate and facility restructurings. For the same reasons, the Company is unable to address the probable significance of the unavailable information.
Note regarding presentation of same-store comparisons
The Company uses “same-store” comparisons to explain the changes in certain performance metrics and line items within its financial statements. Same-store comparisons are calculated based on home health and hospice locations open throughout both the full current period and the immediately prior period presented. These comparisons include the financial results of market consolidation transactions in existing markets, as it is difficult to determine, with precision, the incremental impact of these transactions on the Company’s results of operations.
5
Enhabit, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(Unaudited)
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
($ in millions, except per share data)
Net service revenue$253.6 $258.3 $776.6 $785.7 
Cost of service, excluding depreciation and amortization131.7 134.0 397.7 402.1 
General and administrative expenses103.8 108.8 321.3 327.1 
Depreciation and amortization8.2 7.7 23.6 23.2 
Impairment of goodwill107.9 — 107.9 85.8 
Operating (loss) income(98.0)7.8 (73.9)(52.5)
Interest expense and amortization of debt discounts and fees10.8 10.9 32.8 30.7 
Other income— (0.1)— (0.2)
Loss before income taxes and noncontrolling interests(108.8)(3.0)(106.7)(83.0)
Income tax (benefit) expense0.7 (0.8)1.5 (9.9)
Net loss(109.5)(2.2)(108.2)(73.1)
Less: Net income attributable to noncontrolling interests0.7 0.2 2.0 1.0 
Net loss attributable to Enhabit, Inc.$(110.2)$(2.4)$(110.2)$(74.1)
Weighted average common shares outstanding:
Basic50.2 49.9 50.2 49.8 
Diluted50.2 49.9 50.2 49.8 
Loss per common share:
Basic loss per share attributable to Enhabit, Inc. common stockholders$(2.20)$(0.05)$(2.20)$(1.48)
Diluted loss per share attributable to Enhabit, Inc. common stockholders$(2.20)$(0.05)$(2.20)$(1.48)

6
Enhabit, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Unaudited)
September 30,
2024		December 31,
2023
($ in millions)
Assets
Current assets:
Cash and cash equivalents$45.7 $27.4 
Restricted cash1.7 2.4 
Accounts receivable, net of allowances150.9 164.7 
Prepaid expenses and other current assets9.9 15.6 
Total current assets208.2 210.1 
Property and equipment, net19.4 19.0 
Operating lease right-of-use assets54.3 57.5 
Goodwill953.8 1,061.7 
Intangible assets, net63.9 80.0 
Other long-term assets4.7 5.3 
Total assets$1,304.3 $1,433.6 
Liabilities and stockholders’ equity
Current liabilities:
Current portion of long-term debt$23.0 $22.5 
Current operating lease liabilities11.7 11.8 
Accounts payable9.9 7.6 
Accrued payroll47.1 38.5 
Refunds due patients and other third-party payors4.1 8.2 
Accrued medical insurance8.5 8.4 
Other current liabilities38.6 40.7 
Total current liabilities142.9 137.7 
Long-term debt, net of current portion502.9 530.1 
Long-term operating lease liabilities, net of current portion43.4 45.7 
Deferred income tax liabilities17.1 17.1 
Other long-term liabilities0.1 1.3 
Total liabilities 706.4 731.9 
Redeemable noncontrolling interests5.0 5.0 
Stockholders’ equity:
Total Enhabit, Inc. stockholders’ equity566.1 669.7 
Noncontrolling interests26.8 27.0 
Total stockholders’ equity592.9 696.7 
Total liabilities and stockholders’ equity$1,304.3 $1,433.6 
7
Enhabit, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(Unaudited)
Nine Months Ended September 30,
20242023
($ in millions)
Cash flows from operating activities:
Net loss$(108.2)$(73.1)
Adjustments to reconcile net loss to net cash provided by operating activities—
Depreciation and amortization23.6 23.2 
Amortization of debt related costs1.1 1.0 
Impairment of goodwill107.9 85.8 
Stock-based compensation7.8 7.2 
Deferred income taxes
0.1 (13.1)
Other
(0.7)0.7 
Changes in assets and liabilities, net of acquisitions—
Accounts receivable, net of allowances13.8 (17.8)
Prepaid expenses and other assets5.9 19.9 
Accounts payable2.3 2.2 
Accrued payroll8.6 13.1 
Other liabilities(6.9)(3.6)
Net cash provided by operating activities55.3 45.5 
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired— (2.8)
Purchases of property and equipment, including capitalized software costs(3.2)(3.6)
Other1.1 0.6 
Net cash used in investing activities(2.1)(5.8)
Cash flows from financing activities:
Principal payments on term loan facility(15.0)(15.0)
Principal payments on revolving credit facility(15.0)(10.0)
Principal payments under finance lease obligations— — 
Debt issuance costs— (1.1)
Distributions paid to noncontrolling interests of consolidated affiliates(2.2)(2.5)
Other(3.4)(3.1)
Net cash used in financing activities(35.6)(31.7)
Increase in cash, cash equivalents, and restricted cash 17.6 8.0 
Cash, cash equivalents, and restricted cash at beginning of period29.8 27.2 
Cash, cash equivalents, and restricted cash at end of period$47.4 $35.2 
8
Enhabit, Inc. and Subsidiaries
Supplemental Non-GAAP Information
(Unaudited)
Reconciliation of Diluted Earnings Per Share to Adjusted Earnings Per Share
Three Months Ended September 30,Nine Months Ended
September 30,
2024202320242023
Diluted earnings per share, as reported$(2.20)$(0.05)$(2.20)$(1.48)
Adjustments, net of tax:
Impairment of goodwill1.93 — 1.93 1.50 
Unusual or nonrecurring items that are not typical of ongoing operations(1)
0.05 0.07 0.18 0.14 
Income tax adjustments(2)
0.24 — 0.25 0.01 
Adjusted earnings per share$0.03 $0.03 $0.17 $0.16 
(1)    Unusual or nonrecurring items in the three months ended September 30, 2024 include costs associated with shareholder activism and restructuring activities and severance; the nine months ended September 30, 2024 include costs associated with shareholder activism, the strategic review process and nonroutine litigation; in the three months ended September 30, 2023, they include nonroutine litigation, and the strategic review process; the nine months ended September 30, 2023 also include shareholder activism.
(2)    Income tax adjustments include the effect of permanent book-tax differences attributable to stock-based compensation and the effect of a valuation allowance recorded against a portion of our deferred tax assets.

9



Reconciliation of Adjusted EBITDA to Adjusted Earnings Per Share
Three Months Ended September 30,
2024
Adjustments
As ReportedImpairment of GoodwillUnusual or Nonrecurring Items That are Not Typical of Ongoing Operations
Income tax Adjustments(3)
As Adjusted
($ in millions, except per share data)
Adjusted EBITDA(1)
$24.5 $— $— $— $24.5 
Interest expense and amortization of debt discounts and fees(10.8)— — — (10.8)
Depreciation and amortization(8.2)— — — (8.2)
Gain on disposal of assets0.3 — — — 0.3 
Impairment of goodwill(107.9)107.9 — — — 
Stock-based compensation(3.8)— — — (3.8)
Unusual or nonrecurring items that are not typical of ongoing operations(2)
(3.6)— 3.6 — — 
(Loss) income before income taxes(109.5)107.9 3.6 — 2.0 
Income tax benefit (expense)(0.7)(11.0)(1.0)12.2 (0.5)
Net (loss) income attributable to Enhabit, Inc.$(110.2)$96.9 $2.6 $12.2 $1.5 
Diluted EPS
$(2.20)$1.93 $0.05 $0.24 $0.03 
Diluted shares50.2 50.8 
(1)    Reconciliation to GAAP provided below.
(2)    Unusual or nonrecurring items in Q3 2024 include costs associated with shareholder activism and restructuring activities and severance.
(3)    Income tax adjustments include the effect of permanent book-tax differences attributable to stock-based compensation and the effect of a valuation allowance recorded against a portion of our deferred tax assets.
(4)    Adjusted diluted EPS may not sum due to rounding.
10


Reconciliation of Adjusted EBITDA to Adjusted Earnings Per Share
Three Months Ended September 30,
2023
Adjustments
As ReportedImpairment of GoodwillUnusual or Nonrecurring Items That are Not Typical of Ongoing Operations
Income Tax Adjustments(3)
As Adjusted
($ in millions, except per share data)
Adjusted EBITDA(1)
$23.2 $— $— $— $23.2 
Interest expense and amortization of debt discounts and fees(10.9)— — — (10.9)
Depreciation and amortization(7.7)— — — (7.7)
Gain on disposal of assets0.2 — — — 0.2 
Stock-based compensation(3.1)— — — (3.1)
Unusual or nonrecurring items that are not typical of ongoing operations(2)
(4.9)— 4.9 — — 
(Loss) income before income taxes(3.2)— 4.9 — 1.7 
Income tax benefit (expense)0.8 — (1.3)0.1 (0.4)
Net (loss) income attributable to Enhabit, Inc.$(2.4)$— $3.6 $0.1 $1.3 
Diluted EPS
$(0.05)$— $0.07 $— $0.03 
Diluted shares50.1 50.1 
(1)    Reconciliation to GAAP provided below.
(2)    Unusual or nonrecurring items in 2023 include costs associated with nonroutine litigation, and the strategic review process.
(3)    Income tax adjustments include the effect of permanent book-tax differences attributable to stock-based compensation.
(4)    Adjusted diluted EPS may not sum due to rounding.
11

Reconciliation of Adjusted EBITDA to Adjusted Earnings Per Share
Nine Months Ended September 30,
2024
Adjustments
As ReportedImpairment of GoodwillUnusual or Nonrecurring Items That are Not Typical of Ongoing Operations
Income Tax Adjustments(3)
As Adjusted
($ in millions, except per share data)
Adjusted EBITDA(1)
$75.0 $— $— $— $75.0 
Interest expense and amortization of debt discounts and fees(32.8)— — — (32.8)
Depreciation and amortization(23.6)— — — (23.6)
Gain on disposal of assets0.5 — — — 0.5 
Impairment of goodwill(107.9)107.9 — — — 
Stock-based compensation(7.8)— — — (7.8)
Unusual or nonrecurring items that are not typical of ongoing operations(2)
(12.1)— 12.1 — — 
Income before income taxes(108.7)107.9 12.1 — 11.3 
Income tax expense(1.5)(11.0)(3.2)12.8 (2.9)
Net income attributable to Enhabit, Inc.$(110.2)$96.9 $8.9 $12.8 $8.4 
Diluted EPS
$(2.20)$1.93 $0.18 $0.25 $0.17 
Diluted shares50.2 50.4 
(1)    Reconciliation to GAAP provided below.
(2)    Unusual or nonrecurring items in 2024 include costs associated with shareholder activism, the strategic review process, and nonroutine litigation.
(3)    Income tax adjustments include the effect of permanent book-tax differences attributable to stock-based compensation and the effect of a valuation allowance recorded against a portion of our deferred tax assets.
(4)    Adjusted diluted EPS may not sum due to rounding.
12

Reconciliation of Adjusted EBITDA to Adjusted Earnings Per Share
Nine Months Ended September 30,
2023
Adjustments
As ReportedImpairment of GoodwillUnusual or Nonrecurring Items That are Not Typical of Ongoing Operations
Income Tax Adjustments(3)
As Adjusted
($ in millions, except per share data)
Adjusted EBITDA(1)
$72.5 $— $— $— $72.5 
Interest expense and amortization of debt discounts and fees(30.7)— — — (30.7)
Depreciation and amortization(23.2)— — — (23.2)
Gain on disposal of assets0.2 — — — 0.2 
Impairment of goodwill(85.8)85.8 — — — 
Stock-based compensation(7.2)— — — (7.2)
Unusual or nonrecurring items that are not typical of ongoing operations(2)
(9.8)— 9.8 — — 
(Loss) income before income taxes(84.0)85.8 9.8 — 11.6 
Income tax benefit (expense)9.9 (11.1)(2.9)0.6 (3.5)
Net (loss) income attributable to Enhabit, Inc.$(74.1)$74.7 $6.9 $0.6 $8.1 
Diluted EPS
$(1.48)$1.50 $0.14 $0.01 $0.16 
Diluted shares49.9 49.9 
(1)    Reconciliation to GAAP provided below.
(2)    Unusual or nonrecurring items in 2023 include costs associated with nonroutine litigation, shareholder activism, and the strategic review process.
(3)    Income tax adjustments include the effect of permanent book-tax differences attributable to stock-based compensation.
(4)    Adjusted diluted EPS may not sum due to rounding.
13

Reconciliation of Net Loss to Adjusted EBITDA
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
($ in millions)
Net loss$(109.5)$(2.2)$(108.2)$(73.1)
Interest expense and amortization of debt discounts and fees10.8 10.9 32.8 30.7 
Income tax (benefit) expense0.7 (0.8)1.5 (9.9)
Depreciation and amortization8.2 7.7 23.6 23.2 
Gains on disposal of assets(0.3)(0.2)(0.5)(0.2)
Impairment of goodwill107.9 — 107.9 85.8 
Stock-based compensation3.8 3.1 7.8 7.2 
Net income attributable to noncontrolling interests(0.7)(0.2)(2.0)(1.0)
Unusual or nonrecurring items that are not typical of ongoing operations(1)
3.6 4.9 12.1 9.8 
Adjusted EBITDA$24.5 $23.2 $75.0 $72.5 
(1)    Unusual or nonrecurring items in the three months ended September 30, 2024 include costs associated with shareholder activism and restructuring activities and severance; the nine months ended September 30, 2024 include costs associated with shareholder activism, the strategic review process and nonroutine litigation; in the three months ended September 30, 2023, they include nonroutine litigation, and the strategic review process; the nine months ended September 30, 2023 also include shareholder activism.

14

Reconciliation of Net Cash Provided by Operating Activities to Adjusted EBITDA
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
($ in millions)
Net cash provided by operating activities$28.4 $6.3 $55.3 $45.5 
Interest expense, excluding amortization of debt discounts and fees10.4 10.7 31.7 30.3 
Current portion of income tax expense(0.5)1.3 1.4 3.2 
Change in assets and liabilities, excluding derivative instrument(16.7)— (23.6)(15.0)
Net income attributable to noncontrolling interests(0.7)(0.2)(2.0)(1.0)
Unusual or nonrecurring items that are not typical of ongoing operations(1)
3.6 4.9 12.1 9.8 
Other— 0.2 0.1 (0.3)
Adjusted EBITDA$24.5 $23.2 $75.0 $72.5 
(1)    Unusual or nonrecurring items in the three months ended September 30, 2024 include costs associated with shareholder activism and restructuring activities and severance; the nine months ended September 30, 2024 include costs associated with shareholder activism, the strategic review process and nonroutine litigation; in the three months ended September 30, 2023, they include nonroutine litigation, and the strategic review process; the nine months ended September 30, 2023 also include shareholder activism.
15

Reconciliation of Net Cash Provided by Operating Activities to Adjusted Free Cash Flow
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
($ in millions)
Net cash provided by operating activities$28.4 $6.3 $55.3 $45.5 
Unusual or nonrecurring items that are not typical of ongoing operations(1)
3.6 4.9 12.1 9.8 
Capital expenditures for maintenance (0.7)(1.9)(3.2)(3.6)
Other working capital adjustments(1.0)(0.7)(2.7)(1.7)
Distributions paid to noncontrolling interests of consolidated affiliates— — (2.2)(2.5)
Adjusted free cash flow $30.3 $8.6 $59.3 $47.5 
(1)    Unusual or nonrecurring items in the three months ended September 30, 2024 include costs associated with shareholder activism and restructuring activities and severance; the nine months ended September 30, 2024 include costs associated with shareholder activism, the strategic review process and nonroutine litigation; in the three months ended September 30, 2023, they include nonroutine litigation, and the strategic review process; the nine months ended September 30, 2023 also include shareholder activism.

Reconciliation of Gross Margin to Adjusted EBITDA Margin
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Gross margin as a percentage of revenue48.1 %48.1 %48.8 %48.8 %
General and administrative expenses(40.9)%(42.1)%(41.4)%(41.6)%
Stock-based compensation1.5 %1.2 %1.0 %0.9 %
Noncontrolling interests(0.3)%(0.1)%(0.3)%(0.1)%
Unusual or nonrecurring items that are not typical of ongoing operations(1)
1.4 %1.9 %1.6 %1.2 %
Adjusted EBITDA margin9.7 %9.0 %9.6 %9.2 %
(1)    Unusual or nonrecurring items in the three months ended September 30, 2024 include costs associated with shareholder activism and restructuring activities and severance; the nine months ended September 30, 2024 include costs associated with shareholder activism, the strategic review process and nonroutine litigation; in the three months ended September 30, 2023, they include nonroutine litigation, and the strategic review process; the nine months ended September 30, 2023 also include shareholder activism.



16

FORWARD-LOOKING STATEMENTS
This press release 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 amended (the “Exchange Act”)) that involve known and unknown risks and relate to, among other things, future events, projections, financial guidance, legislative or regulatory developments, strategy or growth opportunities, our future financial performance, our projected business results, or our projected capital expenditures. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, the reader can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “targets,” “potential,” or “continue” or the negative of these terms or other comparable terminology. Any forward-looking statement speaks only as of the date of this release, and the Company undertakes no duty to publicly update or revise such forward-looking information, whether as a result of new information, future events, or otherwise. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties, many of which are beyond our control. Actual events or results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors. While it is impossible to identify all such factors, factors which could cause actual events or results to differ materially from those estimated by the Company include, but are not limited to, our ability to execute on our strategic plans; regulatory and other developments impacting the markets for our services; changes in reimbursement rates; general economic conditions; changes in the episodic versus non-episodic mix of our payors, the case mix of our patients, and payment methodologies; our ability to attract and retain key management personnel and healthcare professionals; potential disruptions or breaches of our or our vendors’, payors’, and other contract counterparties’ information systems; the outcome of litigation; our ability to successfully complete and integrate de novo locations, acquisitions, investments, and joint ventures; the impact of Hurricanes Helene and Milton on our operations; and our ability to control costs, particularly labor and employee benefit costs. Our Annual Report on Form 10-K for the year ended December 31, 2023 dated March 15, 2024, which can be found on the Company’s website at http://investors.ehab.com, discusses these and other risks and factors that could cause actual results to differ materially from those expressed or implied by any forward-looking statement in this press release.
Investor relations contact                    
Jobie Williams
investorrelations@ehab.com
469-860-6061
Media contact
Erin Volbeda
media@ehab.com
972-338-5141
17
�       !"#$%&%'

 
�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̂!""_" "!!̀abccd̀e#" f" $%&'0+-'-1,*,&21&13.)8-'3-+,*&1G1219g@@h4&1*13&*.5-*')+-'H*'8-4&1-8&1V-;).*,&21g)18-+,%-DE3%*1;-@3,6&13.)8&1;@8K)',-8DiN$Z@6@8K)',-8DiN$Z@5*+;&16@8K)',-8-*+1&1;'0-+'%*+-6*18@8K)',-84+--3*'%4.27MV-3213&.&*,&21'24,%-'-1219g@@h4&1*13&*.5-*')+-',2,%-52',8&+-3,./3250*+*L.-4&1*13&*.5-*')+-'3*.3).*,-8&1*332+8*13-7&,%g@@h*+-0+-'-1,-8*,,%--1824,%&'0+-'-1,*,&21MU)+W2+5j9Y64&.-87&,%,%-=DO*'24,%-8*,-24,%&'0+-'-1,*,&2160+2J&8-'4)+,%-+-E0.*1*,&21*188&'3.2')+-+-;*+8&1;D1%*L&,R')'-241219g@@h4&1*13&*.5-*')+-'*18'%2).8L-+-*8&1321K)13,&217&,%,%&'')00.-5-1,*.&142+5*,&21M@88&,&21*./62)+W2+5AX9k42+,%-,%+--521,%'-18-8=-0,-5L-+CX6>X>F60+2J&8-'4)+,%-+&142+5*,&21+-;*+8&1;l)1)')*.2+121+-3)+&1;&,-5',%*,*+-12,,/0&3*.2421;2&1;20-+*,&21'6l*+-3213&.&*,&21&,-5&12)+@8K)',-8DiN$Z@3*.3).*,&21M̂!""_" "!!̀ #"a !"e#_  $%-O250*1/)'-'G'*5-9',2+-H3250*+&'21',2-E0.*&1,%-3%*1;-'&13-+,*&10-+42+5*13-5-,+&3'*18.&1-&,-5'7&,%&1&,'4&1*13&*.',*,-5-1,'M=*5-9',2+-3250*+&'21'*+-3*.3).*,-8L*'-821%25-%-*.,%*18%2'0&3-.23*,&21'20-1,%+2);%2),L2,%,%-4).3)+-1,0-+&28*18,%-&55-8&*,-./0+&2+0-+&280+-'-1,-8M$%-'-3250*+&'21'&13.)8-,%-4&1*13&*.+-').,'245*+:-,321'2.&8*,&21,+*1'*3,&21'&1-E&',&1;5*+:-,'6*'&,&'8&4&3).,,28-,-+5&1-67&,%0+-3&'&216,%-&13+-5-1,*.&50*3,24,%-'-,+*1'*3,&21'21,%-O250*1/R'+-').,'2420-+*,&21'M

 
�                 !   " # $ %&" '(  )*+ ,( -.$  /$ ---0  /$ -1-    23  4'5+2 -+6  78  " 9  -23  :  : ; -%  -)-*23  :  : ; 2 $   <  = :  : ; 0.0-2> '  $" #((; ?     22& 00-

 
�                    !"#$  $ "%&'%'()*+,-./*0,1,21./*'%3,'4.5%/,''%0.2,%'-%'2/.-21.2,64/%0*+/.2*178%124*/0,1,2,'-/*.1*+5*./%0*/5*./79:(+.5;%14,2.</*.+6,11,%'/.2*==>*2*/2;.''.2,%'.<.0*/.?* @   $ A  #B$  $ C0*/.?*+.,<5-*'1D1,'-/*.1*+1*ED*'2,.<5*0*/56%'2;1,'-*F.'D./57C+6,11,%'1,'-/*.1*+"G5*./%0*/5*./C+HD12*+IJKLMC?/*3BB5*./%0*/5*./78%124*/+.5&<.25*./%0*/5*./7"=>*2*/2;.'2;*'.2,%'.<.0*/.?*&%/4.2,*'20,1,21,'2;*<.12+.51%&<,&* N*-%'-,<,.2,%'12%OCCP4/%0,+*+,'C44*'+,Q R A S  T   @UA �VWXY@  Z"   ! Z=   "#  $  $   $A    !  [   A  A    N*+D-*+>.'+*>2>5Z   ,'2;*ED./2*/]>.'+*>2+%3'Z="   5*./%0*/5*./     T    Z"=#*̂21*/0,-*/*0*'D*Z Z_̀*̂2<%11.2/,>D2.><*2%I';.>,2aK'-7 N*4%/2*+IPbZ" Z=C+HD12*+IJKLMC C+HD12*+IPb"==G =#c%6*c*.<2;C+6,11,%'1 c%14,-*C+6,11,%'1=dd## =#c%6*c*.<2;)*+,-./*-%64<*2*+*4,1%+*1 c%14,-*C0*/.?*+.,<5-*'1D1Z=d Z"dc%6*c*.<2;)*+,-./*/*0*'D*4*/*4,1%+* c%14,-*N*0*'D*4*/4.2,*'2+.5ZB ZGGc%6*c*.<2;8%124*/0,1,2 c%14,-*8%124*/4.2,*'2+.5 efghijkflmnopeqrstjuvkwrsxkrvkwryzs{j|{hkfijrs{q}rkkzwiu}~stw{ffkjrkfhzj|s{y€wvsr|{{sxwj|s{ijrwjkqvzs{j|{hkijs}sijkrkf|zwrkefxw{jwqkqrstju|{us‚kukw~juyzs{j|{hkfwxkrwqkfw|~vzk{ihiqrstju|{usi€|zk

 
�             !" #$# %&'% ('$') *+ ,-./0,-+-1-. -1-+2345657896:59;5<=>?5<5=5:@5 ABCDEC ABDCEF GHIJKL23;M>?5:59;5<=>?5<5=5:@5 NBEO PQEP RRISLT    U/ U /  V-+0W V-X0+ YZ[)L]̂_̀àbc̀ L]̂_̀àbc̀d3;93e;5<=>?5 fRIgL ADhDEQ fRIgL ADhPEC GRIJKLi_]jjkl_mnb HoIRL RpRIg HoIRL RpHIq GRIgKLr5:5<787:s7s4>:>;9<79>=55tM5:;5; qoIRL FOEQ qgIRL DCDEC GHIqKLu]vlw]x̀_lvnbm̀yx̀bj̀j gSIRL ABBzEP gRISL ABhNEC GpIoKL{965<>:?345 | }CED~59>:?34579<>€@97€8593:3:?3:9<38>:>:95<5;9;  CEQ CEB‚ƒ �„…T†‚ V-.0 V-+0- ‡Zˆ‰(Š‹$ (ŒŽ‰'%‘ ’0“” ’01”… U  •– — V˜1“0’ V™ š›‰œ  U  �…0 Vž˜˜10-Ÿ Vž-0.Ÿ   ¡YZ¢)  U   �£¤ Vž-0-1Ÿ Vž101Ÿ  ¥¦¦Z¦)‚ƒ �£¤ž       +.+Ÿ V101+ V101+ §̈  U  U/  ©    /   ©  ªr7>:;3:s>;M3;783e7;;59; A}CEh~ A}CEB~«93?¬­€7;5s?34M5:;79>3:5tM5:;5 AhEz AhED®:@;@783<:3:<5?@<>:>954;96797<5:399̄M>?783e3:3>:3M5<79>3:;}D~ AhEO APEFD®:@;@783<:3:<5?@<>:>954;>:°hBCBP>:?8@s5?3;9;7;;3?>795s±>96;67<5638s5<7?9>=>;4²7:s<5;9<@?9@<>:7?9>=>9>5;7:s;5=5<7:?5³>:°hBCBh²965̄>:?8@s5:3:<3@9>:58>9>79>3:7:s965;9<795>?<5=>5±M<3?5;;E5́?3:?>8>79>3:;93rµµ¶M<3=>s5s>:µMM5:s>t

 
�                !"#$%&'"($)$*)&'"+$,&-'$(&*$%*'&%*)&*$.,'("#'&*")/0 !"#$%&'"'"("1","'($)$*$%'"&)"#*234$5657)"")8$#"9:/;< => ? = @<   A  =B = C?@ @= DE   = ?   =  FGEH   I =JEKLI< = ? =< == = <   D =B = ?  =   A D ==  =A      @ E M"%%$8$&*$)*NOOP,'($#"#$O,,"#$Q     =  = @<R*&$S8"("8)'".&$)*'S!)*'"%"*".,8-"""S&S"."*)1'("-$#$%&*"#1'".,8-"")&'"$*T"*,T"&8*T%&'"%.,&$"))1'("-"#$$#$S*T"$'+'U."&$S18/    CV �W>XYC@= DZEL< = ? =< == = <    A  [  =  = ?  @= D  E

 
�         �     �     !  "   #$%& '() '(* &'(' +,-./.012.342456725849:;4<514=>751<.12;8241?@+-514A>751<.12;8241B  #$$%C '(D '(E F(E GG-./.012.342456725849:;4<514=>751<.12;8241?HA-514A>751<.12;8241@'*I  %   % ' &'(F &(E C'(' -./J57;497<145K3;74K7.595:074:5142.<J;756L;72;9=,K5M<./<7517./:514.114<03J7;.9./:514# NOI POP ) '() )(Q F'(C -./J57;497<L2.14:4;R4K;9J41<.9R;<;7</1.3ST.134K;:56<.:;56L.1U41.957645<77L..07./724/;95672144K5M<./724J57;497V<6;/4 $W #    X   I  Y  P"   $  # P   ZZZZB[056;7M./]57;497̂514_.]̂ [>751S57;98<5<./̀06M@,@A/.1K574<./<41R;:4/06M451@,@@?a:7.b41@,@@721.082>4J743b41@,@=@[c.34c45672̂514̂.9<0341d<<4<<3497./c45672:514]1.R;K41<_cĉ dc]>[]57;497>01R4M>751S57;98<5<./̀06M@,@A/.1K574<./<41R;:4̀59051MBe@,@=fg4:43b41=Be@,@==[S4<451:2h9<7;7074/.1c.34̂514@,@=̂2517b..U_K575/1.3i4K;:514>759K51Kd956M7;:<j;64</.1̂k@,@@[el925b;7K575;<5<./B@,@AA[i4K;:514/44/.1<41R;:4:65;3<K575/1.3̀59051M@,@B7.g4:43b41@,@@_<.01:4i4K;:514]1.R;K41g575:5756.8fd080<7@,@A[

 
�                             !      "#$  !            %            !  & ' !      & ()*+ ()", ()"- ./00 ./01 /2304+$ ),$ )5$ 66$ *$ "*$ "#$ 7801 7001 7101 7401 7804 7004 7104 29:;<=>:;<?@:;=A<@=BCB=<A=D<=EB:FG<H8I0J01<;DK<;L<AH8I0J04

 
�                            !     "# !      $%     &   ' (     )*  + , -  (           .  )   "/0 " 0 "#0 /10 //0 //0 //0/0 10 %$0 %/0 0 0 0"10 2#0 2$0 2 0 %0 %0 $0 34567879:5;<=67>54= ?5@94A::9B5879:C9:845>8DE% # $ E  # $ E$ # $ E/ # $ E% # / E  # / E$ # / �  F &� "% %

 
�        !!"!#  !!"$% " &'! !!"!#  !!%(%!)! * !*%*+ %$%'&,-./)%#"!'!"!0100!"0102)+!"!*!' #! !0103"!'45 6 7 89 : ;9 7 :< 9:9 = >? >?> >?? >?@A@ ?  > B#B B >CDC> >CDC>> >CDC>D EF5>>G >D G H !I+! 

 
�              !"#$ !!%!" !%!&  '# ' # ( )*+,-./0+ 122345 126247 8294:;<=>?@*+,-./0+ :24A 9346 B74C<D0-E/F+,GFH82; B4B B4A 82B47;<     '# ' # ( !%$% !%$I 8643;<J>KF>LK+0E-.+ 27A4C 22747 8543;<MNOPPQRNSTU VWXYZ VWX[Z+?+0/]/?,/,̂ -?-KF0/F-E++_̀+?K+K A:4B AC47 8246;<aFb+0-?.>̂ + c 8742; 827747;<=+F-?.>̂ +/F0-dGF/d]+F>?>?.>?F0>]-?e-?F+0+KFK 746 74B 27747<fgh( g�ijklf mn$o m"$p q!$rstZuvwXxyz{|uQRNSTU }[X~Z }X[Z€ '   'q(  (s g' )‚,̂ -KK->?K !ƒ"!! BA„A:A 8:4A;<…+.+0F-L-./F->?K nƒ% 2C„5B2 82943;<J>̂ ]̀+F+,+̀-K>,+K pƒpnn 66„5A7 82B46;<†-K-FK onƒo!o 997„5:7 82A47;<†-K-FK̀+0+̀-K>,+ "$" 264C 8546;<…+E+?G+̀+0+̀-K>,+  mƒ%p 15„23C 8A42;<& ‡ g' )‚,̂ -KK->?K !IƒIo% B6„C5: B742<…+.+0F-L-./F->?K "ƒ! 25„622 A4B<†-K-FK oo!ƒpo A72„396 274B<k  )‚,̂ -KK->?K oƒr! A7„AB5 A49<ˆRQ‰ŠP‹ON‰‹O‹RŒRvQTPPTOUPSNO‹Ž XZ…+.+0F-L-./F->?K %ƒ! 5B„35B 8343;<ˆRQ‰ŠP‹ON‰‹O‹RŒN‰‰N‹T‘TR‹TOUPSNO‹Ž ’WX[“Z†-K-FK  ƒ"ƒ"% 2„29B„266 8642;<†-K-FK̀+0+̀-K>,+  "$ 264C 8A46;<J>KF̀+0E-K-F  mI" 1C5 242<82;D0-E/F+,GFH0+̀0+K+?FK]>?e@F+0̂.>̂ 0̀+b+?K-E+b>G0]H?G0K-?ê+,-./]./0+4 …+.>?.-]-/F->?KF>‚‚D̀0>E-,+,-?‚̀ +̀?,-_

 
�                          !"#$%#&'&()&$%*)$+,,-./$0&1"1&%,.."%1&2 3 45     678      6 9   :!"0"%;"1"#'&%"1<=>=?&'&$%@$/A>BC@D"(/$0"/D"(/./&?(/&'D1;")$'$E"/F"1&#(/"0$';?"(*(/"*;')$G'$E"//"#"/)&G&#()&$%*>:!"0"%;"."/".&*$1"&%HIJKJI&%#';1"1(.$*&)&0"&?.(#)G/$?#L(%M"*&%$;/"*)&?()"1/"#$0"/(N&'&)D$G%")*"/0&#"/"0"%;"@'"(1&%M)$(%"M()&0"D"(/$0"/D"(/#$?.(/&*$%&%JKJA>OP �QRSTO   UV   8 W8             :X$*)."/0&*&)&%#/"(*"1Y>YCD"(/$0"/D"(/./&?(/&'D1;")$)L"1"#/"(*"&%0&*&)*(%1?"/&)(%1?(/Z")&%#/"(*"*@.(/)&('D$G*")ND(/"1;#)&$%&%#$%)/(#)'(N$/(%1G(0$/(N'""2."/&"%#"&%E$/Z"/*[#$?."%*()&$%(%1M/$;.?"1&#('#'(&?*>]"(/̂)$̂1()"#$*)."/0&*&)&*G'()D"(/$0"/D"(/>:_&*&)*."/".&*$1"1"#/"(*"1̀>ACD"(/$0"/D"(/)$YA>Y./&?(/&'D1;")$$;/#$%)&%;"1G$#;*$%"*)(N'&*L&%M(a;*)/&ML).'(%$G#(/"G$/.()&"%)*@$%M$&%M#'&%&#&(%"1;#()&$%@)"(?#$'(N$/()&$%@(%1)L")L$;ML)G;'&%)"M/()&$%$G./"1&#)&0"(%('D)&#*>

 
�             !"#$ !!%!" !%!&  '# ' # ( )*!$+ )",$" $%-./01/20345673 89:; 8<:= >:9?@ABCCDEAFGH IJKLM NOKNMP3Q34RSRQTRTU6Q6014R16533VW3Q030 XY:9 X9:> 9:X?Z316Q7/U3R146[1R[S31/Q/Q7/Q14/S6Q]6Q1343010 =:̂ _ Z̀abcd( c�efghb )%$% ),$, !i$i-MjklKmnopqjDEAFGH JOKLM JrKsMt '   'uvwxuuxwg  c   y%"+ !yzz! *$,-{RU3|01/431/1RSRTU6006/Q0]4/}1~ NKJM c€ y!", y,i +$i-h' c# '   € %% %, ‚+$*ƒ-b# ' c € ( y+!! yzz +$i-„ # (  ' c€ )*z )*! $i-…  ' c€ ),, ),, †- ‡37/Q76S6R16/Q01/PaaˆW4/56T3T6QaWW3QT6V

 
�                          !"#$%#&'&()&$%*)$+,,-./$0&1"1&%,.."%1&2 3     456   7 8 7            9      :,1;&**&$%*&%#/"(*"1<=>?@"(/$0"/@"(/=:!"0"%A"."/1(@&%#/"(*"1B=C?@"(/$0"/@"(/./&;(/&'@1A")$&%#/"(*"1D"1&#(/"/"&;EA/*";"%)/()"*=:F%)G")G&/1HA(/)"/I)G"J$;.(%@(##/A"1KL=M;&'&$%&%D"1&#(/"J(.E&'&%N'&;&)()&$%*#$;.(/"1)$KOP)G$A*(%1&%)G")G&/1HA(/)"/$QOPOB=R           :,0"/(N"1(&'@#"%*A*&%#/"(*"1*"HA"%)&('@"0"/@;$%)G*&%#"S(%A(/@OPOM=RT �UVWXR  46Y   7 6 7             :J$*)."/1(@Z(*Q'()@"(/$0"/@"(/=

 
�           � !"# $% &'()(* + ,   - .  &'()(' + ,   - .     /  � 01234 05637   /  � 6838 939  , /  :  :.  ;   <==38> 739? <=231> 683=?    � @(*A @('A(  , /  :  :.  ;    .   ;  BC    ,  0<831> 0<83=>D EF     0137 0136G  : : ::/ :  H  , / /  : IJ 0132 053K<6>LMNONPQRSMRMSTUNSVMWVXTYOVMZ1=8=5VMUQN[TUROXOPOORUVPXT[VX]O]PST]RQ[TSPUXV̂VOY_PM[STOXSNUXNSVMWPUXV̂VXVTOPM[OT̂TSPMUT̀VMZ1=8=1_X]TaVMUQN[TMRMSRNXVMTQVXVWPXVRMPM[X]TOXSPXTWVUST̂VTbSRUTOO3 cTURMUVQVPXVRMOXRdeefbSR̂V[T[VMebbTM[Vg hiRYTRjVUTWTMTSPQPM[P[YVMVOXSPXV̂TTgbTMOTO[TUSTPOT[XR739?RjURMORQV[PXT[ST̂TMNTbSVYPSVQa[NTXRQRTSVMUTMXV̂TURYbTMOPXVRMPM[X]TUROXURMXSRQVMVXVPXV̂TOTNM[TSXRRkVMX]TOTURM[]PQjRj=8=1PM[X]SRNW]RNX=8=53hl]SRNW]X]TX]VS[mNPSXTSRj=8=5_UROXOXSNUXNSTU]PMWTOVYbQTYTMXT[PSTTgbTUXT[XRnTMTjVX]RYTRjVUTUROXOnaPbbSRgVYPXTQa0=YVQVRMPMMNPQaRMPWRojRSPS[nPOVO3

 
�          !"#$ %   &'()')*    &()')&+,-./0123/,1441-56-7/8041,79:.07679;<,31=>=?@AB@=B CADEF> CAG>F>CH>>I7675/914I65./:.07679;<,31=>=?@AB@JB JE=F? JD?FAK7/./0161.215L678.975/2 GF= EFEM    NO)OPQ NOO)PR122ST.2U./,0.2U1V37-.61/92@HB HEF? =?FHW   N*X'P) NO)OP)W   YZ �[MY]*̂  *PX_ OP*_M ̀a b c YZ �[MY CA>>F= Cd?FDYb    NQ*P N'PX@ABeU1fJ=>=Hg178U91,.-14.817/9141294.91g.2?FEh@ijKkl041,792m41.,.,n329I1/9l=E>Lm2BF@=Bj/j095L14JA<=>=H<9U1T5Im./;I.,1./.,,7975/.6-563/9.4;CEI7675/m.;I1/99541,3019U141-56-7/8041,79:.07679;53929./,7/8L.6./0195CAD>F>I7675/F@JBo/j095L14=>==<p/U.L791/9141,7/95./7/9141294.912g.m95:7q9U14.915/C=>>I7675/5:792914I65./FeU12g.m:7q129U1ijKk05Im5/1/95:9U17/9141294.91.9HFJhF@HBr.;45697I7/8m52797-16;7Im.091,9U1T5Im./;s20.2UL.6./01.9i1m91IL14J><=>=HF+L21/99U72L1/1:79<9U161-14.814.975g536,U.-1L11/EF>qFk105/0767.975/295t++rm45-7,1,7/+mm1/,7q o/i1m91IL14=>=H<9U1T5Im./;I.,1.b NO    <41,307/89U153929./,7/8L.6./015:9U141-56-7/8041,79:.07679;:45ICA?>I7675/95CADEI7675/F

 
�            !"#$"%&'($"# !)$*!+%!,)'$-!'$+.*',/+*&0+&%'! &/"*,' $1!2+!"3**$-$"#&0)!.'&+45637/,*30' !,0+&%!,,/-)*$&",&",+$38945/,,&0637/,*30' !,0+&%&",+$38:4 ;<=>?=@=A>BC D &" $+$!*$&",*&E66F)'&1$33$"6))"3$G 6374H'I!,H+&%JK898L 637/,*3MNOK6 I!"#$"P&'($"#I!)$*!+!"3Q*' R!$"*"!" I!)$*!+MG)"3$*/', I!,O"*',*F!.-"*, I!,!GF!.-"*,ST*&0D0/"3, 6374H'I!,H+&%JK898UV9V89VU9 VW9VX9 VUY4Z V84Z V[Z48 V[U4XV94U VZ]4LV:X4]

 
�              !"#$%#&#'$()*+,*-.-*/(01/*21.13 45  6           789:;<=> 789:?:@A789:<> 789:>8@A789:;<5B �CDEF5 7GH=< 78::@A78:< 7GI@A78:J5B �6K 7:=JJ 7:=8G@A7:=>H 7:=8G@A7:=JG LMNAONPQPR@PAOS@ATUUVWXAYPZMZPOUWWMOZP[

 
�            !"#$%&'() *+,"-.)!/#--"0""1()  )0!!"!,"!-*2!- !"#3'-"$'     !"#&%4'() *+#"5$-/".+/56 !"# **"70 -89:'() *+#"5:,"!-** --) 9 !"#$'-"&'  ; 7 -"# **"70 -89&<'=8.-)!/ ".-"# **"70 -89>3%<08"!/ !    

 
�             !"#$ %   & '  (')* (+    (  ,-./012-34567, 89:;< 8:=;> 8?>>1@8?>< 89A1@8?>BCD0EFG12H2012IJ2G02 K>;< LL;? 8K?1@8KK 8K?1@8KBCD0EFGM@N21DIJDON2G10PH2Q/G-0RSG21 PA;BR P>;<R 8K1@8= 8>1@8BT@HUFGVMDJF1DWDG-@1E2H L;> PB>;>R 8PLR1@8L 8>1@8LXDFG12GDGM2MDJF1DW2IJ2G-F1/H20 L;K L;B 8=1@8?> 8K1@8< % %  YZ[[ YZ]& Y&] YZ[ Y(̂ YZZ_ 2̀1MD0EFGM@N21DIH2Q/G-0FGB>BLFGMW/-21E2FNJDM1@QDJDH1FDWH2Q/G-@QB>BB@a2HJDON2G1;_6E2MEDGV2FGb@HUFGVMDJF1DWQ@Hc67B>BKbD0JHFNDHFWO1E2H20/W1@QW@b2HDMM@/G10H2M2FaDdW2DG-1E21FNFGV@QJDOH@W; e2M@GMFWFD1F@G01@f,,gJH@aF-2-FG,JJ2G-FI

 
�             !" # $!%&'   (  )* +  +,-). ).  /012324 5676 5878 5679:25;79<=>?@4@:@214A8B 567C 5D 5D/0E:F0GHIJ01:4AE2F2K@1L4BM10: 5;979 5;979 5N979:25NO79A8BP2JGQ0:0R:S0H=>?@4@:@212TUG0=@HQ:IV2J0V0HQ:SPHF0W1=7@1X8696;H:HG?F=SH40GF@=02T5;78J@Q@21MK@:SHS2QREH=Y2T597;J@Q@210ZG0=:0R:2E0F0Q0H40R[HF=S8M696O7

 
�        

 
�           !" #$% &" #$!'($)!!#"$" #$%*+, $#$!(!-!(!#-!.+-./%)!!#"$*/,01123$$#"4!' #-!)!!#"$!%' 5-%$#$!%( (!!-#$!*/, 6)!6!#"$7 #$%6 !7 #$% 6)!6!#"$86 !9$#$!6)!6!#"$:%";9$#$! *+,<39!$!)=!->?@/?/A&'5!$ #"!@%$#"" #$% #%=!-!-!!%$!'=;" #$%#")#-B!-*/,C#!'%/?//6)!6!#"$4!' #-!-!D!%5! 6 !7 #$%*+,E16)!6!#"$7 #$%*+,F!#-!#"!#'%G-D'!-3)!!#"$#%' !!-D !$#$$-D!$-D'!H  I J K       K L  M-D!-/?;!#-@(!ND!-D'!' #-!($OJPH Q H =! )%G#H R 3!#"$;$!)@#;-#%'$!--B&=!#-%G!%$$!F!!-#$!%#$%#";# ->A$#$!($IST  Q F!3$!-#%RJOH H $#$#$-#$!G #'D#%$#G!%#$-# $%G#%'-!$#%%G$#"!%$#%'#)#% %$-=5$-$5- %$%5!'5 !

 
�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

 
�           

 
�       �                !"  # $ !  %     !      "   % # !  #    "  &       "   # #  "  '     "    "    (    )  * !"+ ,  -'. '. -'. '/. 0'. '. 0'. 1. -'2. '. '. 0'. '. 0'0. 34567689:;;:4<;=>4?5@ A69BC;54>B689:;;:4<;=>4?5@-    -  

 
�       �      �                !            !      " #      $%$%  &  '   ()(%( ()(*+ ()%,- ()%-. (),$ (),(- (),,( ()*%. ()*% /% 0 % &% 1% & % /% / % 1% " %

 
�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̂ T UV1N2QQ2CDQ @8W9>A @8W7<; @8W=<A @9W=7? 7;;W98< <;WAA7 <;W@;= @=W=>; =7W;8;X0305H2Y234H2CDQ 77WA8; 7<W8>A 7<W877 7<W;>A >7W?9? 7<W8A= 78W>A? 78W77@ 8@W7AA2Q2HQ 8A@W<;7 >78W;;A >;7W?98 >@@W987 @W;@;W?78 >?7W@A= >A7W<@9 >>@WA7> 7W?;>W8<;-  UV1N2QQ2CDQ ><W=8< >;W=?> >;W>@< >@W;;? @;?W88A >9WA@> >8W@@8 ><W<?@ 798W8@7X0305H2Y234H2CDQ <7W??A <<W<8@ <@W?<@ <@W;@A 7@=WAA; <7W787 <7W@@9 <;W@7< =@W>A;2Q2HQ 7W@;>W?;; 7W@;>WA9> 7W79@W788 7W79@W<A> 8W?<9W;=8 7W@;<W<<9 7W7?=W;9A 7W778W<8; <W8=9W?882Q2HQ[050[2QC10 78:A 78:9 78:= 78:< 78:9 78:= 78:; 78:7 78:8ZCQH[05G2Q2H 6 AA6 =76 =<6 =@6 =76 =;6 A=6 =86 =7K7LF52G4H01IHJ50[50Q0DHQPCD_EH05N3CN[50O0DQ2G0OCI5PJDI5Q2D_N01234P3450:

 
�             !"#$% &'() &() &)() &*() +,() &'(* &(* &)(* ,-.(*/012345657158934585956:5 ;<=>? ;<@>A ;<B>< ;AC>C ;C=D>E ;<=>E ;AF>< ;AE>D ;CAE>EG G#G"$ %H07IJIKL3113061 ?MCEE EM@?B EM@@E EM@BE CCMBC? ?MF?E EM@@@ ?MF<D @M=DDNI73567KIO1 ?CBMFEB ?CCM<DA ?CCMBC= ?CAM@BF CMEADMF@C ?F@MA<E ?EFMFED ???ME<B =DCM@CAP314QI8R5KI958IR5J56R7Q0S17IO CC< CF@ CFB CFE CF@ CF< CF@ CFF CFDT958IR5KI3JO4561:1 ?MAE? ?M<E? ?M?@@ ?M<?? ?M<<C ?M?=C ?MACB ?MDEE ?MACFU5956:5258KIO ;CAD ;CAD ;CAE ;CDE ;CAD ;CA= ;CAB ;CA@ ;CA@V017258KIO ;BB ;BB ;BB ;BD ;BB ;B= ;B@ ;BB ;B@

 
�              !" #$#%&#!"'&!())*+,!-#..#")++".#/ 0123425263789:;9<=<9>7?@>9A@=@B  CD D EFGE H!IJ%$&J"&',-# ,-"K LMNOPO LMOQPR STUVWXH!'+# "&',-# ,-"K YRNPN YORPN ZU[X    CF C F  ]]̂Ĝ ]_̀G] 0abcBdXefghihjkh Xefghihjkhl!'&!m',-#  VnUTX opqPq VnUTX OQNPY SnUnWXrsettuvswxj Z[U[X yz[U{ Z[U[X o|oPM SnUTWX(",%$%".%.I#"#'&,%&#-/+"'' y[U{X oQYPp y{UVX oYQPo STUzWX}e~ve€hsv~xjwh€hjtht {‚UnX MppPM {‚UzX qYNPO SnU[WXƒ&J,#" !I „ …QPN†‡&#" !I%&,#ˆK&%ˆ$&!"!" !"&,!$#"‰#"&,'&' NPQ YPQŠ‹ �ŒŠ ]̀G ]G̀ ŽbdA‘’7=9A“”•–—4@>˜23 ™bšd ™bcd C  ›œ  ž]GŸ _̀G_ cb d¡  C  �¢G £žžG¤ £]Gž¤ 0¥ bšBd  C   �¦§ £G¤ £žG_¤ 0¥ b̈BdŠ‹ �¦§£       ̂]¤ Gž] Gž̂ ̈bŽd©  C  CF  ª    F   ª  «(%#"!".#'+!'%$!m%''&' L…QPR† L…QPN†¬&! ­®ˆ%'. !I+"'%&#!"/+"' LqP| LqPN"̄K'K%$!,"!", K,#"‰#&I'&J%&%,"!&&°+# %$!m!"‰!#"‰!+,%&#!"'…Y† LYNPY LpP|…Y†̄ "K'K%$!,"!", K,#"‰#&I'#"NQNO#" $K. !'&'%''! #%&.±#&J'J%,J!$.,% &#-#'I²&J'&,%&‰# ,-#±+,! ''²%"."!",!K&#"$#&#‰%&#!"³#"NQNo²&J°#" $K. !'&'%''! #%&.±#&J"!",!K&#"$#&#‰%&#!"²'J%,J!$.,% &#-#'I²%".&J'&,%&‰# ,-#±+,! ''P

 
�              !"#!$!%"&'  () ) *+,* -  (+ ( +  ./0123450 6789:7 6;<8:= >?7:@ABCDEF/0123450 <=G:= <G8:< <?:=BH52I4J01KJL>?A 8:8 9:M >?=:;AB     (+ ( +  N, N,O ><:=ABPDQJDRQ05I230 7<<:9 7<@:= ><:?ABSTUVVWXTYZ[ ]̂_̀ ]̂àb0E054c4E141d2E2QJ54J2I00ef0EQ0Q ?98:7 ?M?:7 ><:MABgJh052E3Dd0 i >G:<A >?GG:GABC0J2E3Dd04J52jKJ4jc0JDEDE3DEJ5Dc2Ek2EJ050QJQ ?:= ?:G =G:GBlmn m�opl q,r qs,r t,ruv`wxŷz{|}~wWXTYZ[ €̂]̀ ‚̂̀ƒ (   (t  u„ m( .…1d2QQ2DEQ †‡s M?ˆ9?= >?G:<AB‰0305J2R234J2DEQ O‡r =@ˆ?;7 >?;:MABPDdfc0J010f2QD10Q ‡NO† ?;?ˆ?G@ >?<:;ABŠ2Q2JQ ‡†r‡ <ˆG9=ˆ878 >?7:9ABŠ2Q2JQf050f2QD10 ,O ?;:9 >?:;AB‰0I0EK0f050f2QD10  q‡r† 67ˆG<< >?:9AB- )„ m( .…1d2QQ2DEQ r‡ 97ˆ9<8 <7:=B‰0305J2R234J2DEQ ‡ss 7Mˆ9G@ @:GBŠ2Q2JQ ‡†O‡ ?ˆ;@MˆG97 ?7:MB  .…1d2QQ2DEQ N‡ ?==ˆ;;? =:MB‹XWŒVŽUTŒŽUŽXXxWZVVZU[VYTUŽ‘ ’̂à‰0305J2R234J2DEQ r‡Os @9ˆM=< >=:;AB‹XWŒVŽUTŒŽUŽXTŒ“ŒTŽZ”Z“XŽZU[VYTUŽ‘ •’̂a–̀Š2Q2JQ  ‡rN‡† 7ˆ=97ˆ9G@ ><:<ABŠ2Q2JQf050f2QD10  , ?;:M ><:9ABPDQJf05I2Q2J  qr 6@? iB>?AH52I4J01KJL50f50Q0EJQcDEkFJ05d3Ddf50h0EQ2I0hDK5cLEK5Q2Ekd01234c3450: ‰03DE32c24J2DEQJDb……Hf5DI21012E…ff0E12e

 
�             !" # $!%&  '( ( )*+) ,  '* ' *  -./+ -./+ +012345364789:;7 <=>? <@>A B>BCDEFGGHIEJKL MNOPQ MNONQR7S78TUTSVTVW:S:458T5:977XY7S474 Z[>= Z[>? >?C]75:S;3W7T58:̂_5T̂U753S3S;3S583U:S̀:S5787454 ?>= a ]bcdef e�ghd -0+ -+i .+i1QjklOmnopqjHIEJKL rsOMQ rtOuQv '   'wxyzw#w"$z!y%&  e   0{|ii 0{0. .+1}TW7~45387535TUTVW:44:3S4̀835€ NOP‚Qƒ e„ |i.{0./ |{.. +1' e* '   …„ . .. †/+/‡1d* ' e „  {/. { .+|1 *   ' e„ -./0 -./ +i1ˆ  ' e„ -‰0 -‰‰ .+1 Š7;3S;:U:T5:3S453Rcc‹Y839:V7V:ScYY7SV:X

 
�           !" # $ %& %' ( $ )!*+,-, ./.0 ./. ./.0 ./. ./.12345672 889:; :<9:; 8898; :<9<; :=9>;12345672?3@6AB6C2 <D9D; =:9:; <D9<; =E9F; =F9G;16A6C23H672 E9F; E9<; F9=; :9:; E9<;12345643 =9=; =9I; G9F; =9<; =9<;JBK27 L; L; G9<; L; G9=;MNB6O =GG9G; =GG9G; =GG9G; =GG9G; =GG9G;PQP*-R12345672 >E9I; 889F; >E9F; 8898; 8>98;12345672?3@6AB6C2 <F9>; <=9:; <E9E; <D9<; <D9I;16A6C23H672 ==9G; =G9G; ==9G; E9E; F9>;12345643 =9=; =9I; =9=; =9I; =9I;JBK27 L; L; G9<; L; G9=;MNB6O =GG9G; =GG9G; =GG9G; =GG9G; =GG9G;PS+T12345672 FE9D; FE9>; FE98; F89E; F:9=;16A6C23H672 G98; L; =9I; <9F; <9>;12345643 =9=; =9>; L; G9D; G9I;JBK27 L; L; L; L; L;MNB6O =GG9G; =GG9G; =GG9G; =GG9G; =GG9G;

 
�       �    !"#$%&'%()(%*#+,*%, "-)#./01 0�2 /3  4 0 5 4  67 08 9  4: 4 44;5 <4 : <=  6>; ;> 4  5 <?/01 @A //01 0/01 0�B5<C/@DA EFG EH EH EH EFGIJKLMLNKLOPLJNLQJRQSTMKUVQKUTJTWRLXKRUNYTZJKNQJRWLLN []̂_̀ a a a []̂_̀bLPMLYUQKUTJQJRQSTMKUVQKUTJ [_̂c̀ a a a [_̂c̀dQUJTJRUNPTNQeTWQNNLKN ]̂f a a a ]̂fISPQUMSLJKTWgTTRhUe []îj̀ ]îj a a akKTYlmXQNLRYTSPLJNQKUTJ [f̂_̀ a a a [f̂_̀nJZNZQeTMJTJMLYZMUJgUKLSNKoQKQMLJTKKpPUYQeTWTJgTUJgTPLMQKUTJN[c̀ [f̂q̀ a f̂q a a[rTNǸUJYTSLXLWTMLUJYTSLKQOLN []ĵs̀ ]îj f̂q a ĉ]IJYTSLKQOXLJLWUK[LOPLJNL̀ []̂ì [̂]̀ [̂]̀ ĉc []̂s̀: @ A 4  �t5F E@DDFA EuvFu EFv EDF EDFGC  0� E@FA EDFu EFG EF EFC  04  GF GFw[̀xLYTJYUeUQKUTJKTdyyzPMT{URLRTJNeURLNf_QJRfĵ[c̀nJZNZQeTMJTJMLYZMUJgUKLSNUJ|fc]c}UJYeZRLYTNKNQNNTYUQKLRhUKoNoQMLoTeRLMQYKU{UNSQJRMLNKMZYKZMUJgQYKU{UKULNQJRNL{LMQJYL̂[f̀IJYTSLKQOQR~ZNKSLJKNUJYeZRLKoLLWLYKTWPLMSQJLJKXTTlmKQORUWLMLJYLNQKMUXZKQXeLKTNKTYlmXQNLRYTSPLJNQKUTJQJRKoLLWLYKTWQ{QeZQKUTJQeThQJYLMLYTMRLRQgQUJNKQPTMKUTJTWTZMRLWLMLRKQOQNNLKN̂[}̀yR~ZNKLRRUeZKLRzkSQpJTKNZSRZLKTMTZJRUJĝ

 
�       �    !"#$%&'%()(%*#+,*%, "-)#./01 0�2 /3  4 0 5  46 4 4478 94 6 9:  ;<7 7< 4  8 9=/01 >? //01 0/01 0�@89A/>B? CD CE CE CDFGHIJIKHILMIGKINGONPQJHRSNHRQGQTOIUHORKVQWGHKNGOTIIK XYZ[] ^ ^ XYZ[]_IMJIVRNHRQGNGONPQJHRSNHRQG X̀[̀] ^ ^ X̀[̀]aNRGQGORKMQKNbQTNKKIHK Z[c ^ ^ Z[cdHQVefUNKIOVQPMIGKNHRQG Xg[Y] ^ ^ Xg[Y]hGWKWNbQJGQGJIVWJRGiRHIPKHjNHNJIGQHHkMRVNbQTQGiQRGiQMIJNHRQGKXc] Xl[] l[ ^ ^XmQKK]RGVQPIUITQJIRGVQPIHNLIK Xg[c] l[ ^ Y[̀FGVQPIHNLUIGITRHXILMIGKI] Z[n XY[g] Z[Y XZ[l]6 > ? 4  �o8D C>Dp? CDq CDB CBDA  0� C>D? CDr CE CDA  04  DB DBXY]sIVQGVRbRNHRQGHQattuMJQvROIOQGKbROIKgnNGOg[Xc]hGWKWNbQJGQGJIVWJRGiRHIPKRGcZcgRGVbWOIVQKHKNKKQVRNHIOwRHjGQGJQWHRGIbRHRiNHRQGxNGOHjIKHJNHIiRVJIvRIwMJQVIKK[Xg]FGVQPIHNLNOyWKHPIGHKRGVbWOIHjIITIVHQTMIJPNGIGHUQQefHNLORTIJIGVIKNHJRUWHNUbIHQKHQVefUNKIOVQPMIGKNHRQG[Xl]tOyWKHIOORbWHIOzudPNkGQHKWPOWIHQJQWGORGi[

 
�       �    !"#!$!%"&'()*(+,+(-&./-(/#%0",&1234 3�5 26  7 3 8 7  9: 3; <  7= 7 77>8 7 = ?  9@> >@ 7  8 A234 BC 2234 3234 3�D82BEC FGHI FJ FJ FJ FGHIKLMNONPMNQRNLPNSLTSUVOMWXSMWVLVYTNZMTWP[VLMPSLTYNNP ]̂_̀ab c c c ]̂_̀abdNRON[WSMWVLSLTSUVOMWXSMWVL ]_̂ èb c c c ]_̂ èbfSWLVLTWPRVPSgVYSPPNMP h̀i c c c h̀iKURSWOUNLMVYjVVTkWg ]lhm̀nb lhm̀n c c coMV[pqZSPNT[VURNLPSMWVL ]m̀ab c c c ]m̀abrLPSgVOLVLON[OWLjWMNUPMsSMSONLVMMtRW[SgVYVLjVWLjVRNOSMWVLP]_b ]l_̀lb c l_̀l c cKL[VUNZNYVONWL[VUNMSQNP ]lhàmb lhm̀n l_̀l c ll̀̂KL[VUNMSQNQRNLPN ]l̀ib ]ll̀hb ]̂_̀b l_̀a ]_̀nb=  7  �u8I FBEEIC FvIv FwIv FEIw FwI  3� FBIC FEIv FIEw FIH FIEG  37  HI HI]lbxN[VL[WgWSMWVLMVfyyzROV{WTNTVLPgWTNP̂aSLT̂ǹ]_brLPSgVOLVLON[OWLjWMNUPWL_h_|WL[gTN[VPMPSPPV[WSMNTkWMsPsSONsVgTNOS[MW{WPU}MsNPMOSMNjW[ON{WNkROV[NPP}SLTLVLOVMWLNgWMWjSMWVL̀]̂bKL[VUNMSQST~PMUNLMPWL[gTNMsNNYN[MVYRNOUSLNLMZVVpqMSQTWYNONL[NPSMOWZMSZgNMVPMV[pqZSPNT[VURNLPSMWVLSLTMsNNYN[MVYS{SgSMWVLSgVkSL[NON[VOTNTSjSWLPMSRVOMWVLVYVOTNYNONTMSQSPPNM̀]|byT~PMNTTWgMNTzoUStLVMPUTNMVOVLTWLj̀

 
�       �    !" # $!%&'()'*+*',%-.,'."$/!+%0123 2�45 16  7 2 8 7  9: 2; <  7= 7 77>8 7 = ?  9@> >@ 7  8 A123 BC 1123 2123 2�D81BEC FGH FI FI FI FGHJKLMNMOLMPQMKOMRKSRTUNLVWRLVUKUXSMYLSVOZU[KLORKSXMMO ]̂_̀a b b b ]̂_̀acMQNMZVRLVUKRKSRTUNLVWRLVUK d]_da b b b d]_daeRVKUKSVOQUORfUXROOMLO _̂d b b b _̂dJTQRVNTMKLUXgUUShVf ij_ia ij_i b b bkLUZlmYROMSZUTQMKORLVUK ̀_da b b b ̀_danK[O[RfUNKUKNMZ[NVKgVLMTOLoRLRNMKULLpQVZRfUXUKgUVKgUQMNRLVUKOda q_ia b q_i b brUOOaVKZUTMYMXUNMVKZUTMLRPMO is_̂a ij_i q_i b tt_uJKZUTMLRPYMKMXVLMPQMKOMa q_q tt_ta d_qa _̂u ]_ja= B C 7  �v8G FBwGEC FwG FxGy FGx FzGE  2� FBEGwzC FEGH FGEw FGE FGEx  27  wyGy wyGyta{MZUKZVfVRLVUKLUe||}QNU~VSMSUKOfVSMO]iRKS]q_danK[O[RfUNKUKNMZ[NVKgVLMTOVKd̂d]VKZf[SMZUOLOROOUZVRLMShVLoKUKNU[LVKMfVLVgRLVUKOoRNMoUfSMNRZLV~VOTRKSLoMOLNRLMgVZNM~VMhQNUZMOO_]aJKZUTMLRPRS€[OLTMKLOVKZf[SMLoMMXMZLUXQMNTRKMKLYUUlmLRPSVXMNMKZMORLNVY[LRYfMLUOLUZlmYROMSZUTQMKORLVUK_sa|S€[OLMSSVf[LMS}kTRpKULO[TS[MLUNU[KSVKg_

 
�                � !   "#$%&$'$(%)* + , � -   +./  , � -   +./0.01 0.0 0.01 0.0   234.5678 230608 234.608 239648:;<=>=?<=@A=;?=B;CBDE><FGB<FE;EHC=I<CF?JEK;<?B;CH==? LMNO LMNP QRNO QMNS:;JED=<B@TI=;=HF<U=@A=;?= MNS TMNOU LNV TPNPUW=A>=JFB<FE;B;CBDE><FGB<FE; ONR SNS RQNX RQNRYBF;?E;CF?AE?BZEHB??=<? TMNQU TMNRU TMNVU TMNRU:DABF>D=;<EH[EECFZ LMSNP ] LMSNP OVNO<̂EJ_̀IB?=CJEDA=;?B<FE; QNO QNL SNO SNRa=<F;JED=B<>FIK<BIZ=<E;E;JE;<>EZF;[F;<=>=?<? TMNSU TMNRU TRNMU TLNMUb;K?KBZE>;E;>=JK>F;[F<=D?<cB<B>=;E<<dAFJBZEHE;[EF;[EA=>B<FE;?TLU QNX eNP LRNL PNO � 20167 2060 2976. 29067TLUb;K?KBZE>;E;>=JK>F;[F<=D?F;<c=<c>==DE;<c?=;C=Ĉ=A<=DI=>QMfRMReF;JZKC=JE?<?B??EJFB<=CF<c?cB>=cEZC=>BJ<FgF?DB;C>=?<>KJ<K>F;[BJ<FgF<F=?B;C?=g=>B;J=h<c=;F;=DE;<c?=;C=Ĉ=A<=DI=>QMfRMReF;JZKC=JE?<?B??EJFB<=CF<c?cB>=cEZC=>BJ<FgF?Df<c=?<>B<=[FJ>=gF=A>EJ=??B;C;E;>EK<F;=ZF<F[B<FE;hF;<c=<c>==DE;<c?=;C=Ĉ=A<=DI=>QMfRMRQf<c=dF;JZKC=;E;>EK<F;=ZF<F[B<FE;fB;C<c=?<>B<=[FJ>=gF=A>EJ=??h<c=;F;=DE;<c?=;C=Ĉ=A<=DI=>QMfRMRQBZ?EF;JZKC=?cB>=cEZC=>BJ<FgF?DN

 
�                   ! �"#$%&'()*(+(,)-. $ / � 0   12  / � 0   123134 313 3134 313       53674 587 5997 54979:;<=>=?<=@A=;?=B=@CDEFG;HIJK><GLI<GK;KMF=N<FG?CKE;<?I;FM==? OPQR OPQS TOQS TPQTUE>=;<AK><GK;KMG;CKJ=<I@=@A=;?= VPQWX OQT OQR TQYUZI;H=G;I??=<?I;FDGINGDG<G=?B=@CDEFG;HF=>G[I<G[=G;?<>EJ=;< VOQSX ] VYTQX VOWQPX=̂<G;CKJ=I<>GNE<IND=<K;K;CK;<>KDG;HG;<=>=?<? VPQSX VPQYX VYQPX VOQPX_;E?EIDK>;K;>=CE>G;HG<=J?<ZI<I>=;K<<̀AGCIDKMK;HKG;HKA=>I<GK;?VOX TQ RQa OYQO aQbc<Z=> ] PQY PQO VPQTX ! �"#$% 53479 5373 5d971 5d379VOX_;E?EIDK>;K;>=CE>G;HG<=J?G;<Z=<Z>==JK;<Z?=;F=Fe=A<=JN=>TPBYPYRG;CDEF=CK?<?I??KCGI<=FfG<Z?ZI>=ZKDF=>IC<G[G?JI;F>=?<>EC<E>G;HIC<G[G<G=?I;F?=[=>I;C=g<Z=;G;=JK;<Z?=;F=Fe=A<=JN=>TPBYPYRG;CDEF=CK?<?I??KCGI<=FfG<Z?ZI>=ZKDF=>IC<G[G?JB<Z=?<>I<=HGC>=[G=fA>KC=??I;F;K;>KE<G;=DG<GHI<GK;gG;<Z=<Z>==JK;<Z?=;F=Fe=A<=JN=>TPBYPYTB<Z=̀G;CDEF=;K;>KE<G;=DG<GHI<GK;BI;F<Z=?<>I<=HGC>=[G=fA>KC=??g<Z=;G;=JK;<Z?=;F=Fe=A<=JN=>TPBYPYTID?KG;CDEF=?ZI>=ZKDF=>IC<G[G?JQ

 
�                   ! " " #$%&'(&)&*'+, - . � /   01  . � /   0122 220 22 220       3245 3650 37750 375789:;:<=>?9>9?@A:?B9CBD@E;DF<D<?@9>DDGHBA<=>I>9C>B9C>H@?<DB>9;JKL MNO PNQ KRNK QNST<HBD<=@UH@9VBD:?@;I>?E<B9D@9<9A@ JWNXL JKNQL JMNRL JMNOLYDF@?Z>?[B9CA<HBD<=<V:;DE@9D; JKNWL JWNXL JRNXL JKNXL]B;D?B̂:DB>9;H<BVD>9>9A>9D?>=B9CB9D@?@;D;>IA>9;>=BV<D@V<IB=B<D@; _ _ JRNRL JRǸL !   # 3050 3456 37a50 3b57JKL89:;:<=>?9>9?@A:?B9CBD@E;B9DF@DF?@@E>9DF;@9V@Vc@HD@Ê @?MWdRWRPB9A=:V@A>;D;<;;>AB<D@VZBDF;F<?@F>=V@?<ADBeB;E<9V?@;D?:AD:?B9C<ADBeBDB@;<9V;@e@?<9A@fDF@9B9@E>9DF;@9V@Vc@HD@Ê @?MWdRWRPB9A=:V@A>;D;<;;>AB<D@VZBDF;F<?@F>=V@?<ADBeB;EdDF@;D?<D@CBA?@eB@ZH?>A@;;<9V9>9?>:DB9@=BDBC<DB>9fB9DF@DF?@@E>9DF;@9V@Vc@HD@Ê @?MWdRWRMdDF@GB9A=:V@9>9?>:DB9@=BDBC<DB>9d<9VDF@;D?<D@CBA?@eB@ZH?>A@;;fDF@9B9@E>9DF;@9V@Vc@HD@Ê @?MWdRWRM<=;>B9A=:V@;F<?@F>=V@?<ADBeB;EN

 
�               � !   � "   #$% &  � "   #$%'$' '$'# '$' '$'#       (  )*+ )*+ )*)+ )*)+,-.-/010.20234.456/0647--89-.5-5 :;<=>?@ :;A=B?@ :;B=;?@ :;B=C?@,04.5D.2459D501DE055-65 :<=B?@ :<=B?@ :<=B?@ F@G6DHIJK05-2HD39-.5064D. B=L@ B=A@ B=<@ <=>@MD.HD.6/D14.N4.6-/-565 :<=O?@ :<=B?@ :<=O?@ :<=B?@P.Q5Q01D/.D./-HQ/4.N46-356R060/-.D66S94H01DED.ND4.ND9-/064D.5:B? B=;@ B=>@ B=C@ B=A@ � !  T*U+ T*$+ T*V+ T*'+:B?P.Q5Q01D/.D./-HQ/4.N46-354.6R-6R/--3D.6R5-.2-2G-96-3K-/O<WA<A;4.H1Q2-HD565055DH406-2X46R5R0/-RD12-/0H6474530.2/-56/QH6Q/4.N0H647464-50.25-7-/0.H-Y6R-.4.-3D.6R5-.2-2G-96-3K-/O<WA<A;4.H1Q2-HD565055DH406-2X46R5R0/-RD12-/0H647453W6R-56/06-N4H/-74-X9/DH-550.2.D./DQ64.-1464N064D.Y4.6R-6R/--3D.6R5-.2-2G-96-3K-/O<WA<AOW6R-S4.H1Q2-.D./DQ64.-1464N064D.W0.26R-56/06-N4H/-74-X9/DH-55Y6R-.4.-3D.6R5-.2-2G-96-3K-/O<WA<AO015D4.H1Q2-5R0/-RD12-/0H647453=

 
v3.24.3
Cover
Nov. 06, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Nov. 06, 2024
Entity Registrant Name Enhabit, Inc.
Entity Incorporation, State or Country Code DE
Entity File Number 001-41406
Entity Tax Identification Number 47-2409192
Entity Address, Address Line One 6688 N. Central Expressway
Entity Address, Address Line Two Suite 1300
Entity Address, City or Town Dallas
Entity Address, State or Province TX
Entity Address, Postal Zip Code 75206
City Area Code 214
Local Phone Number 239-6500
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, par value $0.01 per share
Trading Symbol EHAB
Security Exchange Name NYSE
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0001803737
Enhabit (NYSE:EHAB)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Enhabit Charts.
Enhabit (NYSE:EHAB)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Enhabit Charts.