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Dec 31, 2022
Addus Q4 2022 Earnings Report
Addus HomeCare reported strong Q4 2022 financial results, with revenue growth and increased profitability.
Key Takeaways
Addus HomeCare Corporation announced a 10.0% increase in net service revenues for Q4 2022, reaching $247.1 million. Net income rose to $14.8 million, or $0.91 per diluted share, and adjusted earnings per diluted share increased to $1.11. The company's strong balance sheet and disciplined financial management support continued investment in the business and strategic acquisitions.
Revenues grew by 10.0% to $247.1 million in Q4 2022.
Net income reached $14.8 million, with earnings per diluted share at $0.91.
Adjusted earnings per diluted share increased to $1.11.
Cash flow from operations was $24.3 million for the quarter.
Revenue by Segment
Forward Guidance
Addus is focused on investing in its business, including new technology and acquisitions, to support caregivers, enhance recruiting, and expand clinical service capabilities. The company expects a more favorable acquisition environment in 2023 and is well-positioned to meet the growing demand for home-based care.
Positive Outlook
- Strong balance sheet and disciplined financial management
- Capital to continue investing in the business
- Focus on acquisition strategy
- Confident in development team’s ability to capitalize on new acquisition targets
- Belief in a more favorable acquisition environment in 2023
Challenges Ahead
- Lingering headwinds related to the pandemic
- Challenging labor market for health care providers
- External factors have affected the timing of some opportunities
- Medicare sequestration
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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