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Dec 31, 2022
HCSG Q4 2022 Earnings Report
Reported Q4 2022 results, achieved direct cost target, and rebalanced capital allocation strategy.
Key Takeaways
Healthcare Services Group reported Q4 2022 revenue of $424.0 million and net income of $16.2 million, or $0.22 per basic and diluted common share. The company's Board of Directors has suspended the quarterly cash dividend and authorized the repurchase of up to 7.5 million shares of its common stock.
Revenue for the quarter was reported at $424.0 million.
Housekeeping & laundry and dining & nutrition segment revenues of $198.0 million and $226.0 million, respectively.
Housekeeping & laundry and dining & nutrition segment margins were 8.7% and 4.3%, respectively.
Direct cost of services was reported at $366.8 million, or 86.5%.
Forward Guidance
The Company expects a 2023 tax rate of 24% to 26%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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