Loading...
•
Jun 30, 2024
HCSG Q2 2024 Earnings Report
Reported Q2 2024 results, raised second half 2024 revenue estimates, and reaffirmed full-year 2024 cash flow forecast.
Key Takeaways
HCSG reported Q2 2024 revenue of $426.3 million, in line with expectations. Net loss was ($1.8) million, including a $0.22 impact from client restructuring charges. The company is raising Q3 and Q4 revenue estimates and reaffirming its 2024 adjusted cash flow range of $40.0 to $55.0 million.
Revenue of $426.3 million, in line with expectations.
Net loss and diluted EPS of ($1.8) million and ($0.02), which includes $0.22 impact of client restructuring charges.
Reported and adjusted cash flow from operations of $16.3 million and ($2.4) million, respectively.
Raised Q3 and Q4 revenue estimates to $425.0 to $435.0 million and $430.0 to $440.0 million, respectively.
Forward Guidance
The company raised its Q3 and Q4 revenue estimates to reflect second half of year topline expectations and reaffirmed its 2024 adjusted cash flow forecast.
Positive Outlook
- Continuing to manage cost of services within our 86% targeted range, building on the operational momentum achieved in the second quarter.
- Driving growth by raising Q3 and Q4 revenue estimates to $425.0 to $435.0 million and $430.0 to $440.0 million, respectively.
- Collecting what we bill with expectations for cash collections to continue to gain strength over the next six months and further still into 2025.
- Reaffirming 2024 adjusted cash flow forecast of $40.0 to $55.0 million.
- Strong business fundamentals and strategic priorities position us to boost profitability, growth, and cash flow in the second half of the year.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...