The Birmingham, Alabama-based post-acute care provider also saw income from continuing operations in Q4 rise 26.5% year-over-year.
Encompass Health experienced top-line growth as its net operating revenues eclipsed $1.2 billion in Q4 2020, according to the company's latest earnings report released Tuesday afternoon.
Encompass saw double-digit year-over-year growth in several metrics, including in cash flows provided by operating activities (29.7%) and adjusted cash flow (55.6%).
Additionally, the company's adjusted earnings per share (EPS) rose 9.4% compared to Q4 2019, while adjusted EBITDA inched up 0.7%.
The Birmingham, Alabama-based post-acute care provider also saw its quarterly income from continuing operations rise 26.5% year-over-year.
For 2020 overall, Encompass' cash flows provided by operating activities were $704.7 million, up 10.9% year-over-year, while its adjusted free cash flow was $579.9 million, up 12.3% over the same period.
"We are pleased with our performance in 2020, which demonstrates the resiliency of our business model," Mark Tarr, CEO of Encompass, said in a statement. "Throughout the past year, we have continued to successfully meet the needs of our patients, employees and business partners. As we look ahead into 2021, we remain confident in our business and long-term prospects."
For 2021, Encompass released a guidance placing net operating revenues between $5 billion to $5.17 billion, with an adjusted EBITDA between $925 million to $955 million.
Encompass also projected that its growth targets for both metrics will be at an 8% to 10% compounded annual growth rate between 2020 to 2025.
For complete financial information, review Encompass Health's filing with the Securities and Exchange Commission.
Jack O'Brien is the Content Team Lead and Finance Editor at HealthLeaders, an HCPro brand.
Photo credit: KIEV, UKRAINE - Jan 11, 2019: Encompass Health, Healthcare company logo seen displayed on smart phone. - Image / Editorial credit: IgorGolovniov / Shutterstock.com