Addus HomeCare grows revenues in first quarter but disappoints Wall Street – Home Care Daily News

Addus HomeCare’s first quarter earnings, which were released on Monday, missed the mark set by Wall Street and investors.

The Frisco, TX-based company earned $0.74 cents a diluted share in the quarter compared to $0.77 in the same quarter a year earlier. The company reported revenues of $205.3 million, a 7.9% increase over the previous year. Still, that was $3.5 million short of analysts’ expectations.

Despite that, Addus HomeCare Chairman and CEO Dirk Allison said the company was pleased with the quarter and expected it to be the last one significantly impacted by the COVID-19 pandemic.

“First quarter 2021 results reflect an improving public health environment, and we anticipate the COVID-19 pandemic will steadily decrease in severity over the next several quarters,” Allison said.

Addus HomeCare is seeing improvement in both its personal and home healthcare businesses, he noted. As vaccinations continue to expand, hospice demand should improve as well, he said.

Addus HomeCare completed three acquisitions in the second half of last year, including the Queen City Hospice in December. Those transactions have all been largely integrated into the company. Addus HomeCare provides personal care, home healthcare and hospice to 44,000 consumers in 22 states.

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