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Sep 30, 2021
Addus Q3 2021 Earnings Report
Addus HomeCare reported an increase in revenue and net income for Q3 2021.
Key Takeaways
Addus HomeCare Corporation announced its financial results for the third quarter ended September 30, 2021, with net service revenues increasing by 11.7% to $216.7 million and net income increasing by 27.0% to $11.6 million, or $0.72 per diluted share. Adjusted net income per diluted share was $0.91, and adjusted EBITDA increased by 27.4% to $24.9 million.
Net service revenues increased 11.7% to $216.7 million compared to Q3 2020.
Net income increased 27.0% to $11.6 million compared to Q3 2020.
Adjusted net income per diluted share increased 19.7% to $0.91.
Adjusted EBITDA increased 27.4% to $24.9 million.
Revenue by Segment
Forward Guidance
The company continues to benefit from a favorable environment for home-based care with strong demand trends and increased government recognition and support through state and federal funding.
Positive Outlook
- Favorable environment for home-based care.
- Strong demand trends in the home care sector.
- Increased government recognition and support through state and federal funding.
- Addus is well positioned to meet the demand across its operating segments.
- Proven operating model and a dedicated team of frontline caregivers and support staff.
Challenges Ahead
- Pressures related to the surge in the Delta variant of COVID-19.
- Tightening labor market.
- Potential effect on growth in certain markets due to labor market and COVID-19.
- 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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