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Sep 30, 2020
Addus Q3 2020 Earnings Report
Addus HomeCare's Q3 2020 performance was marked by revenue growth and increased net income.
Key Takeaways
Addus HomeCare Corporation reported a 14.8% increase in net service revenues, reaching $194.0 million for the third quarter of 2020, compared to $169.0 million in the third quarter of 2019. Net income increased by 85.6% to $9.1 million, with earnings per diluted share at $0.57. Adjusted earnings per diluted share were $0.76. The company also completed the acquisition of County HomeMakers, Inc. in Pennsylvania.
Net service revenues increased by 14.8% to $194.0 million.
Net income increased by 85.6% to $9.1 million, with diluted earnings per share of $0.57.
Adjusted earnings per diluted share were reported at $0.76.
The acquisition of County HomeMakers, Inc. was completed, expanding coverage in Pennsylvania.
Revenue by Segment
Forward Guidance
While facing ongoing challenges related to the COVID-19 pandemic, Addus is mindful of its critical role in providing home care services. The top priority is to protect the health and safety of patients, customers, caregivers and other employees while remaining steadfast in the company's mission. Addus remains confident in continued success as a leading provider of comprehensive home care services.
Positive Outlook
- Well positioned to meet expected demand as conditions evolve.
- Focus on providing safe and cost-effective care.
- Continued identification of new growth opportunities in all segments.
- Capital structure to allow pursuit of acquisition opportunities.
- Acquisition of County HomeMakers expected to be immediately accretive.
Challenges Ahead
- Ongoing challenges related to the COVID-19 pandemic.
- Potential ongoing impact to volumes due to spiking COVID-19 cases.
- Short-term negative impact of minimum wage increase in Chicago market.
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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