| --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------|-------|--------------------------|-------|---------------|-------|----------------------------------------------------------------------------------------------|-------|-------------------------------------| | | | \n(1) Shares Repurchased | | (2) Dividends | | For the Period January 1, 2007, through June 30, 2023 \n (3) Total Returned to Shareholders | \n$ | (4) Free Cash Flow Generated (1) | | Activity in 2007 A ...

Financial Data and Key Metrics - VITAS Healthcare's Q2 2023 revenue increased by 7.8% YoY to $321 million, driven by a 6.2% increase in days of care and a 2.7% increase in Medicare reimbursement rates [101] - Roto-Rooter's Q2 2023 revenue declined by 0.2% YoY to $233 million, with residential revenue down 1.1% and commercial revenue up 1.3% [99] - VITAS' adjusted EBITDA margin, excluding Medicare Cap, was 15.7% in Q2 2023, down 101 basis points YoY due to sequestration [102] - Roto-Rooter's adjusted EBITDA margin in Q2 2023 was 28.3%, down 128 basis points YoY [103] Business Line Performance - VITAS' average daily census (ADC) increased by 6.2% YoY to 18,392 patients in Q2 2023, with admissions up 5.9% YoY [82][68] - Roto-Rooter's call volume declined by approximately 13% YoY in Q2 2023, but close rates improved by 230 basis points for call centers and 160 basis points for technicians [85][86] Market Performance - VITAS' nursing home admissions increased by 13.7% YoY, while assisted facility admissions grew by 3.9%, hospital-directed admissions by 4.5%, and home-based patient admissions by 3.8% [68] - Roto-Rooter's residential revenue saw declines in drain cleaning (-8.6%) and plumbing (-2.8%), but growth in excavation (3.8%) and water restoration (2.5%) [99] Strategic Direction and Industry Competition - VITAS is focusing on expanding market share by leveraging scale, as smaller competitors struggle with inflation and reimbursement challenges [6] - Roto-Rooter is enhancing its internet marketing presence to capture more customer attention, despite a decline in overall search activity for plumbing services [65][40] Management Commentary on Operating Environment and Future Outlook - Management expects VITAS to achieve a 17.5% adjusted EBITDA margin by 2024, driven by improved staffing and census growth [5] - Roto-Rooter's guidance assumes continued consumer spending headwinds, with conservative estimates for Q3 and Q4 2023 [50] Other Important Information - VITAS' retention program has added 784 licensed healthcare professionals since July 2022, contributing to an annualized revenue increase of $84 million [94][84] - Roto-Rooter's workforce is at its strongest, with no plans for layoffs despite current call volume challenges [3][41] Q&A Session Summary Question: How does the decline in Roto-Rooter's call volume compare to past consumer cycles? - The decline is unusual, with call volume spikes never seen before, and demand weakness typically does not last beyond 12 months [19][20] Question: What is the outlook for VITAS' growth and margins? - VITAS expects 8.5% to 9.5% revenue growth in 2023, with margins returning to pre-pandemic levels by 2024 [7][5] Question: Are there plans for acquisitions in the hospice industry? - Acquisitions are not off the table, but the company prefers to expand through market competition due to high valuations for small providers [62][46] Question: How is Roto-Rooter addressing cost-cutting amid declining call volumes? - The company is focusing on reengineering costs rather than cutting expenses, with no layoffs planned [74][41]

The components of cash flow information related to leases were as follows: | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------------|-------|---------------------------------------------|-------|---------------| | Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from leases | $ | Six months ended June 30, \n2023 \n25,055 | $ | 2022 \n25,173 | | Leased assets obtained in exchange for ne ...

Chemed Corporation (NYSE:CHE) Q1 2023 Earnings Conference Call April 27, 2023 10:00 AM ET Company Participants Holley Schmidt - Assistant Controller Kevin McNamara - President and Chief Executive Officer David Williams - Executive Vice President and Chief Financial Officer Nicholas Westfall - President and Chief Executive Officer-VITAS Healthcare Corporation Subsidiary Conference Call Participants Joanna Gajuk - Bank of America Benjamin Hendrix - RBC Capital Markets Operator Thank you for standing by, and w ...

| --- | --- | --- | --- | |------------------------------|----------------|-------|-------| | | | | | | | | | | | | CHEMED CORPORA | | on | | | | | | | Results as of March 31, 2023 | | | | | | | | | | | | | | | | | | are | Forward-Looking Statements (1) (2) (3) | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------|-------|--------------------------------|-------|-------------------|-------|--------------------------------------------|-------|------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x Quarterly Report Under Section 13 or 15 (d) of the Securities Exchange Act of 1934 for the Quarterly Period Ended March 31, 2023 o Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 1-8351 CHEMED CORPORATION (Exact name of registrant as specified in its charter) Delaware 31-0791746 (State or other jurisdiction of incorporation or organization) (IRS Empl ...

Employee and Talent Management - As of December 31, 2022, the company had a total of 14,167 employees across its subsidiaries Roto-Rooter and VITAS[132]. - The company recognizes the importance of attracting and retaining top talent, particularly in the challenging labor market during the COVID-19 pandemic[136]. - A nationwide shortage of qualified nurses and aides could adversely affect VITAS' profitability and service quality[155]. Environmental and Regulatory Liabilities - The company's estimated liability for potential environmental cleanup related to the 1991 sale of DuBois Chemicals Inc. is $1.7 million, with a maximum contingent liability of $14.9 million[130]. - The company is contingently liable for additional environmental cleanup costs but does not believe it is probable that these costs will be incurred[130]. - The company has obligations under a corporate integrity agreement with the OIG, which includes compliance monitoring and reporting requirements[121]. Competition and Market Dynamics - The company faces intense competition in the plumbing and restoration businesses, primarily competing on service range, name recognition, and customer service quality[143]. - The healthcare industry is highly competitive, with VITAS competing against numerous organizations in its service areas[156]. - VITAS faces increasing pressure from payors to control healthcare costs, which may impact revenue levels[148]. Financial Performance and Revenue Sources - Over 90% of VITAS' net patient service revenue comes from Medicare and Medicaid payments, which are primarily on a "per diem" basis[148]. - 15% to 20% of VITAS' days of care are provided to patients in nursing homes, and changes in payment laws could reduce net patient service revenue[149]. - The reduction or elimination of Medicare and Medicaid payments for hospice patients in nursing homes would negatively impact VITAS' revenue and profitability[150]. - VITAS' success relies heavily on maintaining relationships with patient referral sources, which have been affected by the pandemic[151]. - Federal and state regulations could require VITAS to invest significantly in new information systems, potentially impacting profitability[153]. Acquisitions and Investments - The company has not completed any acquisitions in 2021[140]. - VITAS acquired hospice assets from a Florida provider for $1.24 million in cash in 2022[161]. Cybersecurity and Safety Measures - The company has implemented cybersecurity measures, including intrusion detection and regular testing of IT systems, to protect sensitive customer information[147]. - The company has developed a safety program for VITAS to ensure employee and patient health during the COVID-19 pandemic, including training on hygiene and PPE usage[135]. Debt and Financial Obligations - The market value of the company's long-term debt at December 31, 2022, is approximately $97.5 million, with all outstanding debt at a variable interest rate[694]. - The company is subject to civil monetary penalties ranging from $20,000 to $100,000 per claim for knowingly submitting improperly filed claims for federal health benefits[126].

Chemed Corporation (NYSE:CHE) Q4 2022 Earnings Conference Call February 24, 2023 10:00 AM ET Company Participants Holley Schmidt – Assistant Controller Kevin McNamara – President and Chief Executive Officer Dave Williams – Executive Vice President and Chief Financial Officer Nick Westfall – President and Chief Executive Officer-VITAS Healthcare Corporation Subsidiary Conference Call Participants Joanna Gajuk – Bank of America Ben Hendrix – RBC Capital Markets Mike Wiederhorn – Oppenheimer Holley Schmidt Goo ...

Chemed Corporation (NYSE:CHE) Q3 2022 Earnings Conference Call November 1, 2022 10:00 AM ET Company Participants Holley Schmidt - Assistant Controller Kevin McNamara - President and CEO Dave Williams - EVP and CFO Nick Westfall - President and CEO, Chemed VITAS Healthcare Corporation Subsidiary Conference Call Participants Joanna Gajuk - Bank of America Ben Hendrix - RBC Capital Markets Operator Good day, and thank you for standing by. Welcome to the Chemed Corporation's Third Quarter 2022 Earnings Conferen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x Quarterly Report Under Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2022 o Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 1-8351 CHEMED CORPORATION (Exact name of registrant as specified in its charter) Delaware 31-0791746 (State or other jurisdiction of incorporation or organization) (IRS ...