Cano Health Falls as Accounting ‘Adjustment’ Delays Earnings

Cano Health, Inc. shares fall 7.3% in premarket trading after the company said it would delay its fourth-quarter earnings report that had been scheduled for Monday.

• The company and its auditor found “certain potential non-cash adjustments to account for revenue recognition” last week when finalizing its financial statements for the year that “relate to how and when the Company accrues revenue related to Medicare Risk Adjustments,” according to a company statement
  • Adjustments set to impact revenue recognition timing, but not cash from operations, cash position or “estimated collectability of receivables,” according to the release
  • CANO plans to file a ...