Encompass Health reported sustained inpatient rehabilitation volume growth and adjusted EBITDA stability in Q1 2026 despite reimbursement headwinds. The company continues to leverage its scale as the largest U.S. operator of inpatient rehabilitation hospitals, deploying capital towards capacity expansions and technology-enabled operational efficiencies. While reimbursement and labor cost pressures remain key risks, strategic partnerships and data-driven care models support ongoing demand growth and clinical outcomes. Liquidity and covenant compliance remain sound, underpinning Encompass Health’s capacity to invest and adapt.