Shares of Amedisys (AMED +17%) jump on a 5x surge in volume after it updated its Q2 guidance this morning. The company expects revenues of $300M - 305M and EPS from continuing ops of $0.15 - 0.20. This represents a significant turnaround from Q1's operating loss.
Management attributes its improved performance to healthier gross margins and lower expenses pursuant to it plans to close/consolidate care centers and right-size admin costs.
The company remains cautious on its full-year outlook due to the seasonality of the business and the early-stage nature of some of its performance initiatives.