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Jun 30, 2021
HCSG Q2 2021 Earnings Report
Reported revenue of $398.2 million, net income of $9.6 million, or $0.13 per basic and diluted common share, and cash flow from operations of $25.3 million.
Key Takeaways
Healthcare Services Group, Inc. reported Q2 2021 results with revenue of $398.2 million, net income of $9.6 million, and earnings per share of $0.13. The company expects over $50.0 million of annualized revenue growth, or over $12.5 million per quarter, to be reflected in Q3.
Revenue for the quarter was $398.2 million.
Net income for the quarter was $9.6 million, or $0.13 per basic and diluted common share.
Cash flow from operations was $25.3 million for the quarter.
The Board of Directors declared a quarterly cash dividend of $0.20875 per common share.
Forward Guidance
The Company expects over $50.0 million of annualized revenue growth, or over $12.5 million per quarter, to be reflected in Q3, consisting primarily of new dining & nutrition service agreements with existing housekeeping & laundry customers. The Company expects an effective tax rate of 24-26% in Q3 and Q4.
Positive Outlook
- Expects over $50.0 million of annualized revenue growth, or over $12.5 million per quarter, to be reflected in Q3.
- Growth primarily from new dining & nutrition service agreements with existing housekeeping & laundry customers.
- Confident the Company is well positioned for long-term growth.
- Excited about return to growth in Q3.
- Stabilizing industry landscape.
Challenges Ahead
- Q2 reported results were impacted by temporary or non-recurring items.
- Significant uncertainty related to COVID-19 remains.
- Temporary Genesis adjustments decreased Q2 cash flow from operations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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