ACH Earnings Preview

$300M revenue headwind coming, but pivoting to core care

This isn't a typical slowdown — it's a forced restructuring into a core business that's presumably higher-margin but smaller. Management is betting that losing $300M in revenue (roughly 11% of total) while focusing on home care actually improves profitability, but the near-term math is brutal: 2026 revenue is guided to $2.55–$2.65B (down 9–10%) with EBITDA falling to $335–$355M (down 11–13%). If that pivot doesn't deliver margin accretion or new growth, this is a value destruction story.

Watch: Track 2026 H1 results closely. The company expects only 40% of annual EBITDA in the first half, which means a dramatic back-half recovery is baked into guidance — miss that and the narrative inverts fast.