Addus HomeCare Earnings: Here’s Why Shares are Down Now
Addus HomeCare Corp. (NASDAQ:ADUS) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.81%.
Addus HomeCare Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 57.14% to $0.22 in the quarter versus EPS of $0.14 in the year-earlier quarter.
Revenue: Decreased 6.45% to $65.75 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Addus HomeCare Corp. reported adjusted EPS income of $0.22 per share. By that measure, the company missed the mean analyst estimate of $0.22. It beat the average revenue estimate of $63.26 million.
Quoting Management: Mark Heaney, President and Chief Executive Officer of Addus HomeCare, stated, “We are pleased by the steady performance of our business and the increased cash collections in the quarter. We remain focused on our efforts to improve our organic sales results, develop and deploy technology to leverage our work force and position our organization to capitalize on the opportunities presented by the dual eligible demonstration projects in our core markets.”
Key Stats (on next page)…
Revenue increased 4.37% from $63 million in the previous quarter. EPS increased 10% from $0.20 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.22 to a profit $0.23. For the current year, the average estimate has moved up from a profit of $0.87 to a profit of $0.89 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)