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Mar 31, 2021
Addus Q1 2021 Earnings Report
Addus HomeCare's first quarter results for 2021 were announced, demonstrating revenue growth and increased net income.
Key Takeaways
Addus HomeCare Corporation reported a 7.9% increase in net service revenues, reaching $205.3 million for the first quarter of 2021. Net income increased to $8.9 million, or $0.55 per diluted share. Adjusted EBITDA increased 8.9% to $19.3 million.
Net service revenues increased by 7.9% to $205.3 million compared to Q1 2020.
Net income rose to $8.9 million, with earnings per diluted share at $0.55.
Adjusted earnings per diluted share were reported at $0.74.
Adjusted EBITDA increased by 8.9% to $19.3 million.
Revenue by Segment
Forward Guidance
Addus HomeCare anticipates the COVID-19 pandemic will continue to steadily decrease in severity over the next several quarters. They expect to benefit from the statewide Illinois rate increase that became effective April 1, 2021.
Positive Outlook
- Improving organic growth trends ahead of pre-pandemic levels in both personal care and home health.
- Accelerating growth in vaccinations across the country and increasing facility access.
- Expect a return to higher volume trends in hospice business.
- Well positioned to meet expected demand in all operating segments as overall conditions improve and more restrictions are lifted.
- Integration of acquired transactions is largely complete, with positive growth seen since acquisition.
Challenges Ahead
- Impacted by both the pandemic and the historic winter storm that interrupted business throughout many significant markets.
- COVID-19 challenges
- Uncertainty regarding the outcome of discussions with managed care organizations
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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