Cano Health

Cano Health, Inc. operates primary care centers and supports affiliated medical practices that engages in primary care for seniors in Florida, Texas, Nevada, and Puerto Rico. It provides population health management tools including telehealth, prescription home delivery, wellness programs, transition of care, and high-risk and complex care management. The company was founded by Marlow Hernandez in 2009 and is headquartered in Miami, FL.

Earnings data Q2 2021

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Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q3 2024

Cano Health reports strong 2022 performance, eyes growth opportunities

Cano Health demonstrated strong performance in membership growth and revenue generation in 2022, despite facing challenges in revenue per member and goodwill impairment. Strategic actions to enhance liquidity and operational efficiency position the company for future growth.
The company's focus on optimizing operations, expanding strategically, and improving cash flows presents opportunities for sustainable growth and profitability. Renegotiated contracts and cost-saving initiatives aim to address challenges and drive financial performance.
With a clear roadmap for 2023, including membership and revenue targets, Cano Health is poised to capitalize on its strengths, navigate challenges, and leverage opportunities to drive value for stakeholders. The company's financial health and growth prospects remain promising.

Cano Health reports robust Q1 performance, focuses on profitability

Cano Health's Q1 2023 performance showcased strong revenue growth, membership expansion, and a focus on operational efficiency and profitability.
The company faces challenges in managing increased MCR and seasonality impacts but is strategically positioned to capitalize on opportunities for growth and cost optimization.
By divesting non-core assets, reallocating resources, and focusing on Medicare Advantage business, Cano Health aims to drive profitability and enhance shareholder value.
Overall, Cano Health's performance, strategic initiatives, and financial position indicate a positive outlook for continued growth and operational improvements.

Cano Health reports revenue growth but faces financial challenges in Q2 2023

Cano Health's Q2 2023 showcased revenue growth and membership expansion, but challenges with financial performance and liquidity require strategic focus.
The company's strengths in core markets and operational efficiency initiatives offer opportunities for growth and improved profitability.
Navigating challenges with Medicare Risk Adjustment, unexpected expenses, and market exits will be crucial for Cano Health's future success and financial stability.

Cano Health reports Q3 losses, focuses on cost management strategies

Cano Health's Q3 2023 performance reflects a mix of challenges and strengths, with a focus on cost management and operational efficiency.
The company's strategic initiatives in the Medicare Advantage business show promise for revenue growth and cost reductions.
While facing liquidity concerns and financial losses, Cano Health is actively addressing these challenges through restructuring and cost-saving measures.
Opportunities for growth and improved financial performance exist through further cost optimization and strategic decision-making.

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Mr. Kent immediately joins Board of Directors, replacing Dr. Marlow Hernandez who has stepped down MIAMI , Aug. 21, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company"), a leading value-based primary care provider and population health company, today announced that its Board of Directors has appointed Mark Kent as Chief Executive Officer, effective immediately. The Board also elected Mr.

Cano Health Appoints Mark Kent Permanent Chief Executive Officer

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Cano Health shares plummeted to an all-time low after the health care provider for seniors warned it may not be able to continue operations and is looking for a buyer as revenue sank and expenses rose.

Cano Health Warns it May Not Be Able to Stay in Business, Looks for Buyer

Cano Health isn't sure it can continue as a going concern for another year. The company is exiting several markets, cutting staff, and looking for a buyer.

Why Cano Health Stock Is Crashing Today

Cano Health stock tanked on Friday after the company announced plans to pursue a sale along with disappointing 2Q numbers. The Miami-based healthcare company reported a quarterly loss of $0.28 per share, far higher than the $0.09 analyst estimates and above the loss of $0.03 per share a year ago.

Cano Health initiates strategic review for potential sale, replaces 2023 guidance amidst financial strain

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Cano Health (NYSE: CANO ) stock is taking a beating on Friday after the healthcare company provided a business update in its latest earnings report. The big news here is Cano Health announcing its plan to explore strategic alternatives.

Why Is Cano Health (CANO) Stock Down 48% Today?

Citi analysts downgraded the company's shares to Neutral from Buy, citing many challenges for the primary-care provider.

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Cano Health, Inc. (NYSE:CANO ) Q2 2023 Earnings Conference Call August 10, 2023 5:00 PM ET Company Participants Mark Kent - Interim CEO Brian Koppy - CFO Conference Call Participants A.J. Rice - Credit Suisse Josh Raskin - Nephron Research Andrew Mak - UBS Parker Snure - Raymond James Gary Taylor - Cowen Jessica Tassan - Piper Sandler Operator Good afternoon, and welcome to Cano Health's Second Quarter 2023 Earnings Call.

Cano Health, Inc. (CANO) Q2 2023 Earnings Call Transcript

Cano Health, Inc. (CANO) came out with a quarterly loss of $0.28 per share versus the Zacks Consensus Estimate of a loss of $0.09. This compares to loss of $0.03 per share a year ago.

Cano Health, Inc. (CANO) Reports Q2 Loss, Lags Revenue Estimates

Shares of Cano Health Inc. CANO tumbled 50% after hours on Thursday after the primary-care provider and health-management platform said there was “substantial doubt” about its ability to keep operating, and that it was cutting staff and exploring interest in a sale. “Management has concluded that there is substantial doubt about the company's ability to continue as a going concern within one year” amid liquidity issues, the company said in its second-quarter earnings release.

Cano Health stock dives 50% on ‘going concern' warning

Primary care provider Cano Health said on Thursday there is substantial doubt about the company's ability to continue as a going concern within one year, sending shares down 37.5% after the bell.

Cano Health sinks on raising going concern doubts

Cano Health is pursuing a process to sell the Company The Company plans to exit operations in California, New Mexico and Illinois by the fall of 2023, and Puerto Rico by January 1, 2024 MIAMI , Aug. 10, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE: CANO), a leading value-based primary care provider and population health company, today announced financial results for the second quarter ended June 30, 2023. Second Quarter 2023 Financial Results Total membership of 381,066 including 205,696 Medicare capitated members, an increase of 35% and 25% year-over-year, respectively Total revenue of $766.7 million, compared to $689.4 million in the prior year, an increase of 11% year-over-year Net loss of $(270.7) million, compared to a net loss of $(14.6) million in the prior year, primarily driven by a higher operating loss, due to lower-than-expected Medicare Risk Adjustment ("MRA") revenue, higher third-party medical costs, a change in the reserve for other assets related to MSP Recovery Class A common stock, a change in fair value of warrant liabilities, and higher interest expense Adjusted EBITDA1 of $(149.7) million, compared to $9.9 million in the prior year In the second quarter of 2023, capitated revenue of $743.3 million increased 13% year-over-year.

Cano Health Announces Financial Results for the Second Quarter 2023

MIAMI , Aug. 9, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE: CANO), announced today that it has rescheduled its second quarter 2023 earnings release and conference call to tomorrow afternoon.  A press release with the business and financial results will be issued on Thursday, August 10, 2023 after the market closes, and the Company will host a conference call at 5:00 PM Eastern Time the same day to review its business and financial results.

Cano Health Reschedules Second Quarter 2023 Earnings Conference Call

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MIAMI , July 25, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE: CANO), a leading value-based primary care provider and population health company, will release its financial results for the second quarter 2023 after the market closes on Wednesday, August 9, 2023, and will host a conference call at 5:00 PM Eastern Time the same day to review its business and financial results.  To access the live call and webcast, please dial (888) 660-6359 for U.S. participants, or (929) 203-0867 for international participants, referencing the Cano Health Second Quarter 2023 Earnings Conference Call and Conference ID 8371699.

Cano Health Announces Date to Report Second Quarter 2023 Results

NEW YORK & MIAMI--(BUSINESS WIRE)--Elliot Cooperstone, Lewis Gold and Barry Sternlicht (collectively with our affiliates, the “Group” or “we”) today issued the below letter to Cano Health, Inc. (“Cano” or the “Company”) (NYSE: CANO) stockholders. As a reminder, the Group's advocacy this past spring resulted in overwhelming WITHHOLD votes against Dr. Alan Muney and Kim Rivera, who were the two members of the Board of Directors (the “Board”) standing for re-election at the Annual Meeting of Stock.

Concerned Shareholders of Cano Health Condemn the Board's Egregious Conduct and Unwillingness to Accept a Resounding Rebuke at the 2023 Annual Meeting

MIAMI , June 22, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company"), a leading value-based primary care provider and population health company, today filed with the SEC final voting results from its Annual Stockholders' Meeting held on June 15, 2023. An aggregate of 457,462,704 shares—or 85.3% of the Company's Class A and Class B common stock outstanding as of the record date for the meeting—were represented in person or by proxy at the meeting.

Cano Health Files Final Voting Results of Annual Stockholders' Meeting

Cano Health CEO Dr. Marlow Hernandez has stepped down amid pressure from key stakeholders, with Mark Kent named as interim CEO. CANO has faced a series of unfortunate events, including a >90% destruction in shareholder value since listing. The market has responded positively to the news, but the choice of the next CEO will be crucial for the company's future.

Cano Health: CEO Departure Could Be Constructive, New Skipper More So

Cano Health has been in a proxy fight with former board members. The primary health company went public in 2020.

Why Shares of Cano Health Jumped on Tuesday

NEW YORK & MIAMI--(BUSINESS WIRE)--Elliot Cooperstone, Lewis Gold and Barry Sternlicht (collectively with certain of their affiliates, the “Group” or “we”), who recently resigned as members of the Board of Directors (the “Board”) of Cano Health, Inc. (“Cano” or the “Company”) (NYSE: CANO) and collectively represent the largest single stockholder of the Company, today issued the below response to the Company's Friday post-market announcement: “While we are pleased our campaign for leadership cha.

Concerned Shareholders of Cano Health Address Company's Offensive Friday Afternoon “News Dump” Regarding its Leadership Transition

Shares of Cano Health Inc. CANO, -3.85% jumped nearly 20% in the aftermarket Friday after the primary-care provider said that Chief Executive Marlow Hernandez has agreed to step down, effectively immediately. Hernandez will remain on the company's board of directors.

News for Cano Health Stock (CANO)