Addus HomeCare Q3 adjusted EPS beats estimates; to acquire AccentCare personal care division
ADUS•Addus HomeCare reported third-quarter adjusted EPS of $1.83, above the $1.80 analyst estimate, as service revenue rose 7% year over year. It plans to acquire AccentCare’s personal care division, which the company said would expand its revenue base by nearly 19%.
1. Quarterly results
Addus HomeCare’s third-quarter adjusted EPS rose 17% to $1.83, beating the $1.80 analyst estimate. Adjusted EBITDA was $51.2 million, above the $50.29 million consensus estimate, and service revenue increased 7% year over year.
2. AccentCare acquisition
The company plans to acquire AccentCare’s personal care division, expanding its revenue base by nearly 19%. Addus expects to close and integrate the acquisition in coming quarters and said it plans to pursue further acquisitions.
3. Segment trends
Personal care growth was supported by organic volume expansion, acquisition contribution and favorable rate adjustments. Hospice had higher average daily census and organic revenue growth, while home health showed improved admission and volume trends and returned to organic revenue growth.
