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Chemed (CHE) Lags Q3 Earnings and Revenue Estimates
CHEChemed(CHE) ZACKS·2024-10-29 22:56

Core Viewpoint - Chemed reported quarterly earnings of 5.64pershare,missingtheZacksConsensusEstimateof5.64 per share, missing the Zacks Consensus Estimate of 5.76 per share, but showing an increase from 5.32pershareayearago[1][2]FinancialPerformance−Thecompanypostedrevenuesof5.32 per share a year ago [1][2] Financial Performance - The company posted revenues of 606.18 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 1.12%, compared to 564.53millioninthesamequarterlastyear[3]−Chemedhassurpassedconsensusrevenueestimatesjustonceoverthelastfourquarters[3]StockPerformance−Chemedshareshaveincreasedapproximately4.1564.53 million in the same quarter last year [3] - Chemed has surpassed consensus revenue estimates just once over the last four quarters [3] Stock Performance - Chemed shares have increased approximately 4.1% since the beginning of the year, while the S&P 500 has gained 22.1% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [7] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is 7.05 on revenues of 641.75million,andforthecurrentfiscalyear,itis641.75 million, and for the current fiscal year, it is 23.58 on revenues of $2.44 billion [8] - The trend of estimate revisions for Chemed is mixed, which could change following the recent earnings report [7] Industry Context - The Medical - Outpatient and Home Healthcare industry is currently in the top 9% of over 250 Zacks industries, indicating a favorable outlook [9] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry performance can significantly impact stock performance [6][9]