J P M O R G A N North America Equity Research 10 June 2026 Aveanna Healthcare Model Update Following 1Q earnings, we are updating our estimates for AVAH (see our earnings recap here and follow-up with mgmt here). With the strong performance in 1Q and separate increases to 2026 guidance following the 1Q performance and the recently closed deal with First Family (+$120M annual revenue; ~$20M annual EBITDA), we increase our 2026 estimates for revenue to $2,645M (+8.7% y/y and vs $2,555M prior) and adj EBITDA t ...