Encompass Health Corporation (NYSE: EHC), a leading provider of inpatient rehabilitation services, reported impressive financial results for the third quarter of 2024, prompting the company to raise its full-year guidance.

For the quarter ended September 30, 2024, Encompass Health posted net operating revenue of $1.35 billion, a significant 11.9% increase compared to the same period last year. This growth was primarily driven by an 8.8% increase in discharges, including a 6.8% rise in same-store discharges, and a 2.5% increase in net revenue per discharge.

Adjusted earnings per share for the third quarter stood at $1.03, representing a 19.8% year-over-year increase. Income from continuing operations attributable to Encompass Health shareholders reached $108.9 million, or $1.07 per diluted share, up from $86.6 million, or $0.85 per diluted share, in the prior-year quarter.

Encompass Health's strong performance prompted the company to raise its full-year 2024 guidance. The company now expects net operating revenue in the range of $5.33 billion to $5.38 billion, up from its previous guidance of $5.28 billion to $5.35 billion. Adjusted earnings per share from continuing operations are now projected to be between $4.19 and $4.33, higher than the previous range of $3.97 to $4.22.