Addus HomeCare reports Q4 adjusted EPS $1.32, consensus $1.17

Reports Q4 net service revenues of $276.4M, consensus $274.44M. Dirk Allison, Chairman and Chief Executive Officer, said, “Our fourth quarter financial and operating performance marked a strong finish to another record year for Addus. Revenue was up 11.9% and adjusted EBITDA was 21.3% higher for the fourth quarter of 2023 compared with the same period last year. Propelled by the strong momentum in our business throughout 2023, we surpassed $1.0 billion in annual revenues for the first time. We continued to benefit from robust demand for home-based care, especially for our personal care services, which accounted for 74.0% of our revenues. We were pleased with our 11.2% organic revenue growth on a same store basis for the quarter, and our annual growth rate of 12.1% was a record for our personal care services. This impressive revenue growth reflects higher volumes, as well as continued rate support for our services.”