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Addus HomeCare Corp. (NASDAQ: ADUS) is a leading provider of in-home personal care services in the United States. The company operates across three main segments: personal care, hospice, and home health. The personal care segment is the cornerstone of Addus HomeCare, delivering non-medical assistance with daily living activities like bathing, grooming, feeding, and transportation. This care is primarily aimed at the elderly, disabled, and chronically ill who are at risk of hospitalization or institutionalization.
The hospice segment offers palliative care, encompassing physical, emotional, and spiritual support for terminally ill patients and their families. This segment also includes bereavement counseling and social work services. The home health segment focuses on skilled nursing and therapies such as physical, occupational, and speech therapy for patients recovering from illness or surgery.
Financially robust, Addus HomeCare recently reported significant growth, achieving net service revenues of $280.7 million in Q1 2024, a 11.6% increase year-over-year. The company's strategic acquisitions, including the purchase of Tennessee Quality Care and the personal care segment of Gentiva, have expanded its market presence, particularly in key states like Texas.
With over 49,000 consumers served through 214 locations in 22 states, Addus HomeCare's payor clients include federal, state, and local governments, managed care organizations, commercial insurers, and private individuals. The company continues to focus on growth opportunities through acquisitions and organic expansion while maintaining a strong balance sheet and financial flexibility.
Addus HomeCare also actively engages in important regulatory discussions, such as the recent HHS rule on Medicaid services, ensuring that the company adapts to industry changes and continues to provide high-quality care.
Addus HomeCare Corporation (Nasdaq: ADUS), a provider of home care services, announced its upcoming earnings release for Q4 and the full year ended December 31, 2020, scheduled for February 25, 2021, after market close. A conference call will be hosted on February 26, 2021, at 9:00 a.m. ET, featuring Dirk Allison (President and CEO), Brian Poff (EVP and CFO), and Brad Bickham (EVP and COO). Investors can access the call via a toll-free number or through a live broadcast on the company’s website.
Addus HomeCare Corporation (NASDAQ: ADUS) announced the appointment of Veronica Hill-Milbourne and Esteban López, M.D. to its Board of Directors, effective January 11, 2021. Hill-Milbourne is the CEO of Spectrum Health Services, with extensive experience in healthcare leadership, while López leads the Americas, Healthcare and Life Sciences for Google Cloud, having previously held key positions in major health insurance firms. Their diverse expertise aims to enhance the company's strategic direction and growth in the home care market.
Addus HomeCare Corporation (NASDAQ: ADUS) announced the acquisition of Queen City Hospice, LLC and Miracle City Hospice, LLC for $192 million, which includes $162.8 million net of tax benefits. Based in Ohio, Queen City Hospice serves about 900 patients daily, enhancing Addus's hospice services in the state. This acquisition is part of a broader strategy to expand home care capabilities, following the recent purchase of SunLife Home Care. Addus expects the transaction to be immediately accretive to its financial results.
Addus HomeCare Corporation (Nasdaq: ADUS) has announced that CEO Dirk Allison and CFO Brian Poff will participate in the virtual Stephens Annual Investment Conference 2020. The presentation will take place on November 19, 2020, starting at 9:00 a.m. Eastern Time. Investors can access a live broadcast and a replay on the company's Investor Relations webpage at www.addus.com one hour after the live event. Addus HomeCare specializes in home care services for individuals at risk of hospitalization, serving around 44,000 consumers across 25 states.
Addus HomeCare Corporation (NASDAQ: ADUS) announced a definitive agreement to acquire Queen City Hospice, LLC, for $192 million, netting $162.8 million after tax benefits. Queen City Hospice operates in Ohio, servicing an average of 900 patients daily; it generates about $56 million in annual revenues. The transaction is expected to be immediately accretive and aligns with Addus's strategy to expand hospice services. Funding will come from cash reserves and a revolving credit facility.
Addus HomeCare Corporation (NASDAQ: ADUS) reported third-quarter financial results for 2020, highlighting a 14.8% increase in net service revenues to $194.0 million, compared to $169.0 million in Q3 2019.
Net income surged 85.6% to $9.1 million with diluted earnings per share at $0.57, up from $0.39. Adjusted EBITDA also rose 12.2% to $19.5 million.
For the first nine months, revenues climbed 24.6% to $568.8 million, and net income increased 70.2% to $24.7 million. The company remains active in acquisitions, recently acquiring County HomeMakers in Pennsylvania.
Addus HomeCare Corporation (Nasdaq: ADUS) will announce its third-quarter earnings on November 2, 2020, after market close. A conference call is scheduled for November 3, 2020, at 9:00 a.m. ET, featuring key executives including President and CEO Dirk Allison. The call can be accessed via a toll-free number, with a replay available until November 17, 2020. Addus HomeCare provides essential home care services to approximately 42,000 consumers across 171 locations in 25 states, primarily targeting individuals at risk of hospitalization.
Addus HomeCare Corporation (Nasdaq: ADUS) announced participation in the Baird 2020 Global Healthcare Conference, taking place virtually on September 9-10, 2020. Dirk Allison, President and CEO, along with Brian Poff, CFO, will represent the company. A live broadcast of their presentation will start at 4:20 p.m. Eastern Time on September 9, with an online replay available for a month afterward. Addus HomeCare provides essential home care services to around 42,000 consumers through 185 locations across 25 states.
Addus HomeCare Corporation (NASDAQ: ADUS) reported strong financial results for Q2 2020, with net service revenues rising 23.9% to $184.6 million and net income up 30.5% to $6.9 million. Adjusted net income per diluted share reached $0.73, a 35.2% increase year-over-year. For the first six months, revenues surged 30.4% to $374.8 million, highlighting adjusted EBITDA growth of 61.8% to $36.4 million. Cash reserves stood at $158.6 million with $30.4 million net cash from operations in Q2. The company also acquired A Plus Health Care, bolstering its market presence.
Addus HomeCare Corporation (Nasdaq: ADUS) will participate in the virtual BMO 2020 Prescriptions for Success Healthcare Conference on June 23, 2020. CEO Dirk Allison and CFO Brian Poff will present at 2:30 PM ET. The presentation will be live-streamed and available for replay on the company's website for one month afterward. Addus HomeCare offers home care services, assisting approximately 43,000 consumers across 180 locations in 25 states. They focus on personal care, hospice, and home health services, primarily for those at risk of hospitalization.
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