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Sep 30, 2023
HCSG Q3 2023 Earnings Report
HCSG reported Q3 2023 results with revenue in line with expectations and raised cash flow expectations.
Key Takeaways
HCSG's Q3 2023 results showed revenue of $411.4 million, with an adjusted revenue of $424.0 million. The company reported a net loss of $5.5 million, but an adjusted net income of $12.5 million. Adjusted diluted EPS increased by 13.3% over Q3 2022. The company also raised its expectations for the second half of 2023 cash flow from operations.
Revenue of $411.4 million; adjusted revenue of $424.0 million, in line with expectations.
Net income and diluted EPS of ($5.5) million and ($0.07); adjusted net income and adjusted diluted EPS of $12.5 million and $0.17, a 13.7% and 13.3% increase, respectively, over Q3 2022.
Adjusted EBITDA of $23.2 million, a 10.2% increase over Q3 2022.
Raises expectations for second half of 2023 cash flow from operations from a range of $20.0 million to $30.0 million, to $35.0 million to $45.0 million.
Forward Guidance
The Company estimates Q4 revenue in the range of $420.0 million to $430.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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