AdaptHealth Corp. (AHCO) shares plummeted 16.87% during Tuesday's intraday trading session following the release of disappointing first-quarter 2026 financial results.

The home medical equipment provider reported a net loss attributable to shareholders of $16.04 million, significantly wider than the $7.21 million loss in the same period last year. While revenue of $819.8 million exceeded analyst expectations, operating income of $5.49 million fell sharply short of the $26.09 million estimate, and pretax profit showed a loss of $20.11 million versus an expected profit of $4.34 million. Earnings per share also missed estimates across multiple metrics.

Management attributed the weak bottom-line performance to elevated labor expenses from a rapid expansion to serve a new strategic partner, with most of these costs expected to normalize by the end of the second quarter. The company raised its full-year 2026 net revenue guidance but maintained its adjusted EBITDA and free cash flow outlook.