Core Insights - Chemed Corporation reported third-quarter 2024 adjusted earnings per share (EPS) of 5.64,a65.00, reflecting a 1.4% increase from the previous year [1] - Revenues for the quarter improved by 7.4% year over year to 606.2million,butalsomissedtheZacksConsensusEstimateby1.1391.4 million, up 17.3% year over year, driven by a 15.5% increase in days of care and a nearly 2.6% rise in the Medicare reimbursement rate [4] - Roto-Rooter segment reported sales of 214.8million,down6.9210 million, but gross margin contracted by 117 basis points to 34.6% due to a 9.3% rise in service costs [6] - SG&A expenses rose by 2.4% year over year to 102million,whileadjustedoperatingprofitincreasedby22.7108 million, with adjusted operating margin contracting by 35 basis points to 17.8% [6] Liquidity and Capital Structure - Chemed ended the quarter with cash and cash equivalents of 238.5million,upfrom222.9 million at the end of the previous quarter, and had no current or long-term debt [7] - Cumulative net cash from operating activities was 252.6million,comparedto221.7 million in the prior year [7] Share Repurchase and Dividends - The company repurchased 100,000 shares for 57.8million,averaging578.2 per share, with approximately 168.1millionremainingunderitssharerepurchaseauthorization[8]−Chemedhasaconsistentdividend−payinghistory,withafive−yearannualizeddividendgrowthof5.5123.00-23.15,downfromthepreviousestimateof23.55-23.80,withtheZacksConsensusEstimateat23.58, indicating a 16.2% growth over 2023 [10]
Chemed(CHE) ZACKS·2024-10-30 15:20