| --- | --- | --- | --- | |------------------------------|----------------|-------|-------| | | | | | | | | | | | | 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 ...

Financial Data and Key Metrics Changes - VITAS's net revenue was $298 million in Q2 2022, a decline of 4.5% compared to the prior year, primarily due to a 3.8% decline in days of care, partially offset by a 0.8% increase in Medicare reimbursement rates [14][15] - Roto-Rooter generated quarterly revenue of $233 million in Q2 2022, an increase of $13.2 million or 6% compared to the prior year [17] - Chemed's full-year 2022 earnings per diluted share is estimated to be in the range of $19.30 to $19.50, compared to previous guidance of $19.10 to $19.50 [25] Business Line Data and Key Metrics Changes - VITAS's average daily census was 17,315 patients, a decline of 3.8% over the prior year, with total admissions down 12.5% [27][28] - Roto-Rooter branch commercial revenue totaled $54.8 million, an increase of 7.5% over the prior year, with growth in various segments including plumbing and water restoration [17][18] - The average length of stay for VITAS patients increased to 103.7 days, compared to 94.5 days in Q2 2021 [30] Market Data and Key Metrics Changes - The nursing home-based patient ratio in VITAS's average daily census increased to 16.4% in Q2 2022, up from 15.6% in Q4 2021 [11] - Roto-Rooter is experiencing a challenge in increasing manpower, with technician manpower expanding by 4.3% compared to Q2 2021 [12] Company Strategy and Development Direction - VITAS has implemented a targeted hiring and retention bonus program to address the shortage of licensed healthcare professionals, with an estimated cost of $37 million [9] - Roto-Rooter aims to expand market share by leveraging brand awareness and customer service advantages [12] - The company is focusing on community access initiatives to improve hospice patient identification and care [41] Management's Comments on Operating Environment and Future Outlook - Management noted that the ongoing COVID-19 pandemic and economic uncertainties are impacting financial modeling and guidance [22] - There is optimism regarding the hiring and retention program's potential to improve staffing and operational capacity in the future [39] - Management expects continued growth in Roto-Rooter despite a more sustainable revenue outlook due to economic conditions [48] Other Important Information - Chemed entered into a five-year $550 million credit agreement, with approximately $387 million of undrawn borrowing capacity as of June 30, 2022 [19] - The company repurchased 100,000 shares for $49.9 million during the quarter, with $125 million remaining under the share repurchase authorization [20] Q&A Session Summary Question: What offsets should be considered for the guidance raise? - Management indicated that while revenues are strong, there has been some softness in Roto-Rooter revenue growth, leading to a more realistic outlook for the second half of the year [33] Question: How much of the labor improvement is due to volume changes? - Management acknowledged that the inability to grow manpower as anticipated has impacted margins, with a focus on recruitment and retention efforts [34][35] Question: What is the long-term outlook for the community access initiative? - Management believes that increased awareness of home care will positively impact hospice patient access in the long term [55] Question: How should Roto-Rooter's revenue outlook be viewed entering 2023? - Management expects continued growth and market share consolidation for Roto-Rooter, despite a softer revenue outlook due to economic conditions [48]

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 June 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 Emplo ...

| --- | --- | |----------|---------------------------| | | | | Employer | Identification No.) 45202 | 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, 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 ...

Chemed Corporation (NYSE:CHE) Q1 2022 Earnings Conference Call April 27, 2022 10:00 AM ET Company Participants Kevin McNamara – President and Chief Executive Officer Nick Westfall – President and Chief Executive Officer of Chemed VITAS Healthcare Corporation Subsidiary Dave Williams – Executive Vice President and Chief Financial Officer Holley Schmidt – Assistant Controller Conference Call Participants Joanna Gajuk – Bank of America Ben Hendrix – RBC Capital Markets Operator Good day and thank you for sta ...