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EarningsQ2 2026 Earnings Report
CHE Q2 2026 EPS Results
Actual EPS$6.06
Consensus EPS$5.60
Beat/MissBeat by +$0.46
One Year Ago EPS$4.27
CHE Q2 2026 Revenue Results
Actual Revenue$673.25M
Expected Revenue$665.03M
Beat/MissBeat by +$8.22M
YoY Revenue Growth+8.80%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeAfter Close
Conference CallTuesday, July 28, 2026
CHE Upcoming Earnings
Chemed's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
CHE Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was decidedly positive: VITAS delivered strong top-line and profitability beats, materially improved Medicare cap positioning, and management raised full-year guidance across ADC, revenue and EBITDA margin while consolidated cash generation exceeded expectations. Roto-Rooter showed commercial momentum, margin recovery in gross profit, and strategic franchise buybacks, but faces persistent lead-generation/marketing cost pressure, water restoration transitional issues and modest margin drag. Regulatory oversight and mix/length-of-stay dynamics at VITAS are noted risks but were framed as managed and not materially impairing guidance.Company Guidance
VITAS Revenue and Admissions Growth
VITAS net revenue of $443.3M in Q2 2026, up 11.9% YoY; admissions totaled 19,125 (up 9% YoY). Days of care (ADC driver) increased 6.1% and average daily census was 23,687 (up 6.1%), with total patient census exceeding 24,000 at quarter end.
Improved VITAS Profitability and Margins
Adjusted EBITDA (excluding Medicare cap) was $80.6M in Q2, a 20.6% increase YoY; adjusted EBITDA margin (ex-cap) of 18.2% in the quarter. Full-year EBITDA margin guidance (ex-cap) raised to 19.0%–19.5% (from 18%–18.5%).
Medicare Cap Cushion and Reduced Accruals
Added $8.9M to Medicare cap cushion in Florida in Q2; no Medicare cap billing limitation recorded for the Florida combined program in Q2 2026 (vs $16.4M in Q2 2025). Q2 accrual was $0.5M overall; full-year cap billing limitation guidance reduced to $7M from $9.5M.
Upgraded Full-Year Guidance and EPS Outlook
VITAS ADC growth guidance raised to 5.75%–6.25% (previously 4.5%–5.5%); anticipated revenue growth (ex-cap) raised to 8.25%–9.25% (previously 6.5%–7.5%). Full-year adjusted diluted EPS guidance raised to $25.00–$25.75 (midpoint represents a 7.8% increase vs 2025).
Strong Consolidated Performance and Cash Generation
Consolidated Chemed revenue increased 8.8% in Q2 and adjusted diluted EPS increased 41.9% YoY. Cash flow from operations exceeded $173M in the quarter, with minimal leverage to support acquisitions and aggressive share repurchases.
Roto-Rooter Commercial Momentum and Franchise Acquisitions
Roto-Rooter branch commercial revenue was $56.8M in Q2, up 6.8% YoY. Branches with commercial business managers (30 productive managers in place) saw ~13% commercial revenue growth vs a 1% decline in branches without managers. Roto invested ~$33.5M YTD repurchasing four franchises, including a ~$12M purchase in south Texas.
Operational Improvements at Roto-Rooter
Centralization of water restoration billing/collections improved collections and reduced write-offs by $1.3M YoY; centralization reduced approximately 20 employees vs Q2 2025. Roto-Rooter gross margin was 50.4%, up 135 basis points YoY.
CHE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed