Aveanna Healthcare (AVAH) announced that California's 2027 budget will include an increase in pediatric private duty nursing rates, ending a four-year struggle.
Aveanna Healthcare CEO Jeffrey Shaner stated on the Q2 earnings call that California's 2027 budget will finally include a meaningful pediatric private duty nursing rate increase, effective January 1, 2027, marking the culmination of the company's four-year advocacy effort. This move will impact Aveanna in all 32 states where it provides private duty nursing services. The company's Q2 revenue increased by 13.7% year-over-year to approximately $670 million, adjusted EBITDA grew by 8% to $95.4 million, and it raised its full-year revenue guidance to over $2.68 billion and adjusted EBITDA guidance to over $365 million.
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