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Sep 30, 2024
Addus Q3 2024 Earnings Report
Addus reported a revenue increase of 7.0% and net income of $20.2 million for Q3 2024.
Key Takeaways
Addus HomeCare announced strong third-quarter results for 2024, with a 7.0% increase in net service revenues to $289.8 million and a net income of $20.2 million, or $1.10 per diluted share. Adjusted EBITDA increased by 11.1% to $34.3 million. The company's personal care business continues to be a key growth driver.
Net service revenues increased by 7.0% to $289.8 million.
Net income was reported at $20.2 million, or $1.10 per diluted share.
Adjusted EBITDA increased by 11.1% to $34.3 million.
Cash flow from operations was $48.5 million.
Revenue by Segment
Forward Guidance
Addus expects to close the Gentiva acquisition in the fourth quarter of 2024 and is working on transition planning to integrate these operations. The company aims to expand its market reach, especially in Texas, and will continue to pursue acquisitions aligned with its growth strategy.
Positive Outlook
- The company will continue to maintain a conservative balance sheet.
- Acquisitions represent a significant use of capital for Addus.
- The company will continue to target operations that are aligned with its overall growth strategy.
- Addus announced a definitive agreement to acquire the personal care operations of Gentiva.
- The company is excited about the opportunity to expand its market reach, especially in Texas.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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