Agilon Health Cuts Annual Revenue Outlook Below View On Higher Costs, Initiates 2024 Guidance

(RTTNews) - Agilon Health, Inc. (AGL) Friday revised down its full-year guidance to reflect higher medical and non-medical costs. In addition, the company has initiated 2024 outlook.

For the full year, excluding items, the firm now projects EBITDA loss of $69 million to $55 million against its previous expectation for EBITDA of $6 million to $18 million.

Revenue is now expected to be in the range of $4.295 billion to $4.305 billion, lower than the previous outlook of $4.310 billion to $4.320 billion.

On average, 16 analysts polled by Thomson Reuters expect the company to register revenue of $4.53 billion, for the year.

For the full-year 2024, Agilon expects to post adjusted EBITDA of $40 million to $60 million.

Revenue is projected to be in the range of $6.350 billion to $6.420 billion, higher than analysts' estimate of $5.98 billion.

AGL was trading up by 1.90 percent at $12.31 per share in the pre-market trade on the New York Stock Exchange.