[First Quarter 2024 Financial Results](index=1&type=section&id=First%20Quarter%202024%20Financial%20Results) [First Quarter 2024 Highlights](index=1&type=section&id=First%20Quarter%202024%20Highlights) Addus HomeCare reported strong Q1 2024 financial results, with net service revenues up 11.6% and Adjusted EBITDA up 24.6% Q1 2024 Key Financial Metrics (vs. Q1 2023) | Metric | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Net Service Revenues | $280.7M | $251.6M | +11.6% | | Net Income | $15.8M | $12.7M | +24.4% | | Net Income per Diluted Share | $0.97 | $0.78 | +24.4% | | Adjusted EBITDA | $32.4M | $26.0M | +24.6% | | Adjusted Net Income per Diluted Share | $1.21 | $0.97 | +24.7% | | Cash Flow from Operations | $38.7M | $18.8M | +105.9% | [Management Commentary and Segment Performance](index=1&type=section&id=Management%20Commentary%20and%20Segment%20Performance) Management attributed strong performance to solid execution and demand, with Personal Care driving growth and Hospice improving - The Personal Care segment, representing **74.1%** of the business, saw a **9.3%** same-store revenue increase year-over-year, driven by steady volume and rate increases in certain states[4](index=4&type=chunk) - The company has experienced a more stable labor environment and improved ability to hire and retain caregivers due to investments in efficient hiring and scheduling systems[4](index=4&type=chunk) - The Hospice segment, now **20.0%** of the business, achieved **5.8%** organic revenue growth, benefiting from a **3.1%** rate increase and the acquisition of Tennessee Quality Care, with improved volume trends[5](index=5&type=chunk) [Financial Condition and Outlook](index=2&type=section&id=Financial%20Condition%20and%20Outlook) [Cash, Liquidity, and Outlook](index=2&type=section&id=Cash%2C%20Liquidity%2C%20and%20Outlook) The company maintained strong liquidity with significant cash and available credit, prioritizing accretive acquisitions for strategic growth Liquidity Position as of March 31, 2024 | Metric | Amount | | :--- | :--- | | Cash | $76.7M | | Bank Debt | $101.4M | | Revolving Credit Facility Capacity | $486.9M | | Availability under Credit Facility | $377.5M | - Net cash from operating activities was **$38.7 million** for Q1 2024, enabling a **$25.0 million** reduction of the revolver balance[6](index=6&type=chunk)[7](index=7&type=chunk) - The company's primary strategic objective is to pursue accretive acquisitions that enhance personal care services, build scale, or add complementary clinical services, with a focus on markets that support value-based contracting[7](index=7&type=chunk) [Financial Statements](index=4&type=section&id=Financial%20Statements) [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Addus reported Q1 2024 net service revenues of $280.7 million, with gross profit and net income showing increases Q1 2024 Income Statement Highlights (in thousands) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net service revenues | $280,746 | $251,599 | | Gross profit | $88,177 | $78,415 | | Operating income | $23,645 | $18,608 | | Net income | $15,830 | $12,675 | | Net income per diluted share | $0.97 | $0.78 | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets reached $1.014 billion, with increased equity and stable liabilities Balance Sheet Summary (in thousands) | Metric | March 31, 2024 | March 31, 2023 | | :--- | :--- | :--- | | Total current assets | $191,847 | $209,210 | | Total assets | $1,014,000 | $931,083 | | Total liabilities | $288,857 | $282,197 | | Total stockholders' equity | $725,143 | $648,886 | [Net Service Revenue by Segment](index=6&type=section&id=Net%20Service%20Revenue%20by%20Segment) In Q1 2024, Personal Care was the largest segment at $208.0 million, with all segments showing revenue growth Net Service Revenue by Segment (in thousands) | Segment | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Personal Care | $208,003 | $190,032 | | Hospice | $55,863 | $49,082 | | Home Health | $16,880 | $12,485 | | **Total Revenue** | **$280,746** | **$251,599** | [Key Statistical and Financial Data](index=7&type=section&id=Key%20Statistical%20and%20Financial%20Data) Q1 2024 saw Personal Care revenue per hour increase, Hospice organic revenue grow, and Home Health organic revenue decline Q1 2024 Key Segment Metrics (vs. Q1 2023) | Segment & Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Personal Care** | | | | Revenue per billable hour | $27.35 | $24.98 | | Organic Revenue Growth | 9.3% | 11.4% | | **Hospice** | | | | Patient days | 305,630 | 287,551 | | Revenue per patient day | $182.78 | $176.22 | | Organic Revenue Growth | 5.8% | 2.6% | | **Home Health** | | | | Total Volume | 8,055 | 5,442 | | Organic Revenue Growth | (15.1)% | 13.8% | [Reconciliation of Non-GAAP Financial Measures](index=8&type=section&id=Reconciliation%20of%20Non-GAAP%20Financial%20Measures) The company provides non-GAAP reconciliations, detailing adjustments from Net Income to Adjusted EBITDA and Adjusted Net Income Reconciliation of Net Income to Adjusted EBITDA (Q1 2024, in thousands) | Description | Amount | | :--- | :--- | | Net income | $15,830 | | (+) Interest expense, net | $2,335 | | (+) Income tax expense | $5,480 | | (+) Depreciation and amortization | $3,469 | | (+) Acquisition expenses | $2,711 | | (+) Stock-based compensation expense | $2,618 | | **Adjusted EBITDA** | **$32,443** | Reconciliation of Net Income to Adjusted Net Income (Q1 2024, in thousands) | Description | Amount | | :--- | :--- | | Net income | $15,830 | | (+) Acquisition expenses | $2,711 | | (+) Stock-based compensation expense | $2,618 | | (-) Tax effect | ($1,370) | | **Adjusted Net Income** | **$19,789** |

Company Performance - Addus HomeCare (ADUS) has returned 6% year-to-date, outperforming the Medical sector average of 2.3% [2] - The Zacks Consensus Estimate for ADUS' full-year earnings has increased by 2.8% over the past three months, indicating improved analyst sentiment [2] - Addus HomeCare holds a Zacks Rank of 2 (Buy), suggesting a positive outlook for the stock [1][2] Industry Comparison - Addus HomeCare is part of the Medical - Outpatient and Home Healthcare industry, which has gained an average of 4.7% year-to-date [3] - HCA Healthcare (HCA), another outperforming stock in the Medical sector, has returned 14.3% year-to-date and belongs to the Medical - Hospital industry, which has increased by 14.9% [2][3] - The Medical sector ranks 4 in the Zacks Sector Rank, reflecting the overall strength of the industry [1]

Investors interested in Medical - Outpatient and Home Healthcare stocks are likely familiar with Addus HomeCare (ADUS) and U.S. Physical Therapy (USPH) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven ...

Investors interested in stocks from the Medical - Outpatient and Home Healthcare sector have probably already heard of Addus HomeCare (ADUS) and U.S. Physical Therapy (USPH) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and ...

Investors interested in stocks from the Medical - Outpatient and Home Healthcare sector have probably already heard of Addus HomeCare (ADUS) and U.S. Physical Therapy (USPH) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The ...

Addus HomeCare Corporation (NASDAQ:ADUS) Q4 2023 Earnings Conference Call February 27, 2024 9:00 AM ET Company Participants Dru Anderson - FINN Partners Dirk Allison - Chairman and CEO Brian Poff - CFO Brad Bickham - President and COO Conference Call Participants Joanna Gajuk - Bank of America Scott Fidel - Stephens Brian Tanquilut - Jefferies Ryan Langston - TD Cowen John Ransom - Raymond James Operator Good morning, everyone, and welcome to the Addus HomeCare's Fourth Quarter and Year End 2023 Earnings Co ...

One stock that might be an intriguing choice for investors right now is Addus HomeCare Corporation (ADUS) . This is because this security in the Medical - Outpatient and Home Healthcare space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is argu ...

Investors might want to bet on Addus HomeCare (ADUS) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.The power of a ...

Investors interested in stocks from the Medical - Outpatient and Home Healthcare sector have probably already heard of Addus HomeCare (ADUS) and Chemed (CHE) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and ...

Addus HomeCare (ADUS) reported $276.35 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 11.9%. EPS of $1.32 for the same period compares to $1.11 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $274.02 million, representing a surprise of +0.85%. The company delivered an EPS surprise of +13.79%, with the consensus EPS estimate being $1.16.While investors closely watch year-over-year changes in headline numbers -- revenue and earning ...