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

Earnings data Q3 2021

Earnings data Q4 2021

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.

Cano Petroleum, Inc. operates as an independent oil and natural gas company. The company was founded by Jeffery S. Johnson in 1997 and is headquartered in Tulsa, OK.

LOS ANGELES, CA / ACCESSWIRE / April 18, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Cano Health, Inc. ("Cano Health" or "the Company") (NYSE:CANO) for potential breaches of fiduciary duty on the part of its directors and management. If you are a shareholder, click here to participate.

LONG TERM CANO INVESTOR ALERT: The Schall Law Firm Announces it is Investigating Claims Against Cano Health, Inc. and Encourages Investors with Losses to Contact the Firm

NEW YORK--(BUSINESS WIRE)--Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, is investigating potential securities law violations and breach of fiduciary duty claims against Cano Health Inc. (NYSE: CANO). If you currently own stock or options in Cano Health Inc. and suffered a loss, click here to contact Labaton Sucharow to discuss your options.

Award Winning Firm Labaton Sucharow Investigating Cano Health Inc. – CANO

MIAMI, April 17, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company"), a leading value-based primary care provider and population health company, today announced that it has separated the roles of Chairman and Chief Executive Officer and appointed Solomon Trujillo, the Company's lead independent director, as the non-executive chairman of the Company's Board of Directors, effective immediately. The change will enable Dr. Marlow Hernandez to focus his attention on his role as Chief Executive Officer, in addition to his remaining a director.

Cano Health Announces Separation of Chairman and CEO Roles

MIAMI, April 17, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company"), a leading value-based primary care provider and population health company, today issued the following letter from its Board of Directors to shareholders.

Cano Health Issues Letter to Shareholders

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.

Concerned Shareholders of Cano Health Urge Company to Reopen Window for Nominating Director Candidates at 2023 Annual Meeting

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), today issued the below letter to fellow shareholders. *** Fellow Shareholders, We are writing to convey our serious concerns regarding the management and trajectory of Cano.

Concerned Shareholders of Cano Health Issue Open Letter Regarding the Urgent Need for Leadership and Strategy Changes at the Company

It has been a wild few days of trading for leading value-based primary care provider and population health company, Cano Health (US:CANO).

Cano Health Surges as Key Board Members Quit, Seeking CEO Exit

Shares of Cano Health Inc. CANO, +42.87% were up more than 40% in afternoon trading Monday after Barry Sternlicht, a former board director, disclosed in a 13D filing with the Securities and Exchange Commission that he, two others who recently left Cano's board, and certain of their affiliates have entered into an agreement “to act together to pursue change” at the company, “including, but not limited to, the replacement of the CEO, sale of non-core assets and enhancement of shareholder value.” Sternlicht, Elliot Cooperstone and Lewis Gold, who all resigned from Cano's board Thursday, have a combined voting power of about 35.7%, according to the filing.

Cano Health stock rebounds with 40% pop after former director says he and others agreed ‘to pursue change'

Shares of Cano Health Inc. CANO, -20.77% tumbled 20.3% toward their first-ever sub $1 close in afternoon trading Friday, after the primary care provider said it was “disappointed” that three directors had decided to resign, that it strongly disagreed with their comments about the company and that one director, Barry Sternlicht, shared confidential board deliberations with shareholders. Late Thursday, Sternlicht issued a statement in which he criticized Chief Executive Marlow Hernandez and the board, and the mismanagement that led to the stock being “decimated” since its debut and the given the “crippling” debt burden.

Cano Health stock plunges toward record low after 3 directors resigned amid concerns over CEO Hernandez's leadership

LOS ANGELES--(BUSINESS WIRE)---- $CANO #CANO--The Schall Law Firm Announces it is Investigating Claims Against Cano Health, Inc.

INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Cano Health, Inc. and Encourages Investors with Losses to Contact the Firm

MIAMI , March 31, 2023 /PRNewswire/ -- Cano Health, Inc. ("Cano Health" or the "Company") (NYSE: CANO), a leading value-based primary care provider and population health company, issued the following statement: "Our Board and management team have devoted considerable time and resources to analyzing the Company's performance, operations, financial strength, and potential against the backdrop of the challenges the Company and the sector have faced. While we fully recognize the recent disappointing share price performance, our work has supported our strong confidence in the Company's mission and fundamentals, our commitment to driving operational and financial improvements, and our belief in the Company's continuing prospects for long-term shareholder value creation.

Cano Health Comments on Resignation of Directors

MIAMI , March 30, 2023 /PRNewswire/ -- Barry Sternlicht today issued the following statement announcing his resignation, effective immediately, from the Board of Directors of Cano Health, Inc. (NYSE: CANO). Dear Marlow and Fellow Board Members: I hereby give notice of my resignation from the Board of Directors of Cano Health, Inc. effective immediately.

Barry Sternlicht Issues Statement Announcing Resignation from Cano Health Board of Directors

CANO's 2022 growth was impressive but not impressive enough to boost the stock price. Investors' confidence has been severely dented by the company's significant Earnings shortfall, contributing to the share price slump.

Cano Health: The Near Term Is Dismal, But The Long Term Is Bright

Cano Health, Inc. (NYSE:CANO ) Q4 2022 Earnings Conference Call March 1, 2023 5:00 PM ET Company Participants Marlow Hernandez - Chief Executive Officer Brian Koppy - Chief Financial Officer Conference Call Participants Gary Taylor - Cowen Inc. Jailendra Singh - Truist Securities Andrew Mok - UBS Group AG Joshua Raskin - Nephron Research LLC Adam Ron - Bank of America Merrill Lynch Justin Lake - Wolfe Research, LLC A.J. Rice - Credit Suisse Operator Good afternoon, and welcome to Cano Health's Fourth Quarter 2022 Earnings Call.

Cano Health, Inc. (CANO) Q4 2022 Earnings Call Transcript

Cano Health, Inc. (CANO) delivered earnings and revenue surprises of 280% and 3.83%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Cano Health, Inc. (CANO) Q4 Earnings and Revenues Top Estimates

MIAMI , March 1, 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 fourth quarter and full year ended December 31, 2022. Fourth Quarter 2022 Financial Results Total membership of 309,590 including 179,536 Medicare capitated members, an increase of 36% and 42% year-over-year, respectively Total revenue of $680.4 million, compared to $492.3 million the prior year, an increase of 38% year-over-year Net loss of $(301.7) million, unfavorably impacted by a non-cash goodwill impairment of $(323.0) million, partially offset by a gain of $81.2 million due to a fair value adjustment of warrant liabilities Adjusted EBITDA[1] of $35.7 million, compared to $11.1 million in the prior year Full Year 2022 Financial Results Total revenue of $2,738.9 million, compared to $1,609.4 million in the prior year, an increase of 70% year-over-year Net loss of $(428.4) million, inclusive of the previously mentioned non-cash goodwill impairment of $(323.0) million Adjusted EBITDA of $152.5 million, compared to $27.3 million in the prior year In the fourth quarter of 2022, capitated revenue of $651.2 million increased 40% year-over-year.

Cano Health Announces Financial Results for the Fourth Quarter and Full Year 2022

Announces Preliminary Fourth Quarter 2022 Summary Financial Results MIAMI , Feb. 27, 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 that on February 24, 2023, it consummated the closing of a $150 million senior secured term loan (the "2023 Term Loan"), maturing November 23, 2027.  Lenders in the 2023 Term Loan were Diameter Capital Partners, Rubicon Founders and their respective affiliates and managed funds.

Cano Health Announces Closing of $150 Million Term Loan Facility with Diameter Capital Partners and Rubicon Founders

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MIAMI , Feb. 21, 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 fourth quarter and full year 2022 after the market closes on Wednesday, March 1, 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 Fourth Quarter 2022 Earnings Conference Call and Conference ID 8371699.

Cano Health Announces Date to Report Fourth Quarter and Full Year 2022 Results and Participation in Upcoming Investor Conference

The buyout of a competitor fueled a rise in the primary medical-care company's shares this week.

Why Cano Health Stock Moved Up This Week

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The fourth quarter of 2022 was relatively better for the stock markets, with the S&P 500 up over 7% (its only positive quarterly return for the year).

5 Best and Worst Performing Small-Cap Stocks in Q4 2022

Value-based care is a solution to the challenges that U.S. healthcare is facing. Cano Health, Inc.'s leading position stems from its proprietary platform and relationships with key stakeholders.

Cano Health: FY23 Could Be A Better Year

The company, which operates senior-oriented primary care centers, is running low on cash.

News for Cano Health Stock (CANO)