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Jun 30, 2020
Chemed Q2 2020 Earnings Report
Chemed's Q2 2020 earnings were reported, with revenue increasing and adjusted EPS surpassing the previous year.
Key Takeaways
Chemed Corporation reported a 6.0% increase in revenue to $502 million. GAAP diluted EPS increased by 62.7% to $5.01, and adjusted diluted EPS increased by 31.3% to $4.41.
Consolidated revenue increased by 6.0% to $502 million.
GAAP diluted EPS increased by 62.7% to $5.01.
Adjusted diluted EPS increased by 31.3% to $4.41.
Roto-Rooter's quarterly revenue increased by 8.6% to $175 million.
Chemed
Chemed
Chemed Revenue by Segment
Revenue by Segment
VITAS Revenue
CapyFin.comRoto-Rooter Revenue
CapyFin.com Forward Guidance
Chemed provided full-year 2020 adjusted earnings per diluted share guidance, excluding certain non-cash expenses and discrete items, estimated to be in the range of $16.20 to $16.40.
Positive Outlook
- VITAS revenue growth is estimated to be in the range of 5% to 7%.
- Average Daily Census is estimated to expand approximately 2% to 4%.
- Adjusted EBITDA margin is estimated to be 19% to 20%.
- Roto-Rooter is forecasted to achieve full-year revenue growth of 9% to 10%.
- Roto-Rooter’s Adjusted EBITDA margin is estimated to be in the range of 23% to 25%.
Challenges Ahead
- The pandemic will continue to materially disrupt all aspects of the healthcare system and general economy.
- Governmental decisions have the potential for an immediate and material impact on VITAS and Roto-Rooter operating results.
- Medicare Cap billing limitations for calendar year 2020 are estimated at $17 million.
- Future rules, regulations and government mandates could materially impact Chemed's ability to achieve its guidance.
- Chemed’s full year adjusted earnings per share guidance eliminates any financial benefit from the CARES Act funds that relate to lost revenue.
Revenue & Expenses
Visualization of income flow from segment revenue to net income