Addus HomeCare reports Q2 adjusted EPS $1.07, consensus $1.01

Reports Q2 revenue $260M, consensus $256.17M. Commenting on the results, Dirk Allison, Chairman and Chief Executive Officer, said, “Addus delivered a very strong financial and operating performance for the second quarter of 2023, highlighted by 9.7% top line growth in overall revenues and 12.7% growth in Adjusted EBITDA compared to the second quarter of 2022. Our strong volume trends in personal care, our largest segment, were a significant driver of our growth for the quarter. Demand for our personal care services continues to grow, reflecting a greater awareness of the value of home-based care as the preferred and most cost-effective option for many individuals. Our team has done an outstanding job in meeting this demand as we continue to provide safe, high-quality care for our patients in the home, while delivering consistent financial results. We expect to see gradual improvement and expansion opportunities in our home health and hospice operations in the second half of 2023 as the clinical staffing environment continues to improve and as a result of the expiration of the public health emergency. With our balance sheet and strong cash flow, we are well positioned to leverage our scale and expertise and extend our market coverage in all three levels of care.”