Welcome to our dedicated page for Chemed news (Ticker: CHE), a resource for investors and traders seeking the latest updates and insights on Chemed stock.
Chemed Corporation (symbol: CHE) is a diversified holding company that operates through its two significant subsidiaries: VITAS Healthcare Corporation and Roto-Rooter Services Company. With its headquarters in Cincinnati, Ohio, Chemed’s operations are concentrated in the United States, where it generates the majority of its revenue.
VITAS Healthcare Corporation is one of the leading providers of hospice care services in the nation. Specialized in end-of-life care for terminally ill patients, VITAS offers comprehensive palliative care through a dedicated network of professionals including physicians, registered nurses, home health aides, social workers, and volunteers. The revenue for this segment comes predominantly from Medicare and Medicaid reimbursement programs, making it a substantial part of Chemed’s financial structure.
On the other hand, Roto-Rooter Services Company is the largest provider of plumbing, drain cleaning, and water restoration services in the United States. Catering to both residential and commercial customers, Roto-Rooter ensures 24/7 services to meet urgent and routine plumbing needs. This segment also plays a crucial role in Chemed’s revenue generation, supporting the company’s diversified business model.
Chemed Corporation has showcased resilience and strong financial health through consistent performance improvements and strategic expansions. Recent achievements include significant growth in the VITAS segment, driven by an increase in the number of patients served and enhanced operational efficiencies. Additionally, Roto-Rooter’s revenue growth has been fueled by robust demand for emergency plumbing services and effective market penetration strategies.
With a forward-looking approach, Chemed continues to expand its footprint in the healthcare and plumbing services sectors through innovations, strategic acquisitions, and partnerships. The company’s long-term vision focuses on delivering high-quality, reliable services to meet the evolving needs of its diverse customer base.
Chemed (NYSE: CHE) reported strong Q2 2024 financial results. Consolidated revenue rose 7.6% to $595.9 million, while GAAP diluted EPS increased 32.5% to $4.65. Adjusted diluted EPS jumped 34.1% to $5.47. VITAS segment revenue grew 16.7% to $374.6 million, driven by a 14.4% increase in average daily census and 11.0% rise in admissions. Conversely, Roto-Rooter posted a 5.0% decline in revenue to $221.3 million alongside a 9.2% drop in adjusted EBITDA. Chemed ended the quarter with $222.9 million in cash and no debt. Additionally, the company repurchased 100,000 shares worth $55.8 million. Guidance for 2024 has been revised upward, anticipating VITAS revenue to grow by 16.3%-17.3% and Roto-Rooter revenue to decline by 4.0%-5.0%. Full-year EPS is projected to range between $23.55 and $23.80.
Chemed (NYSE: CHE) will release its second-quarter financial results for 2024 on July 24, following the close of trading on the NYSE.
The company will hold a conference call and webcast at 10 a.m. ET on July 25 to discuss the results and provide an update on its business. Participants can access the live webcast through Chemed's investor relations website or by registering for the teleconference. A replay of the call will be available approximately two hours after its conclusion.
Chemed, headquartered in Cincinnati, operates VITAS Healthcare, the largest U.S. provider of end-of-life hospice care, and Roto-Rooter, the leading provider of plumbing and drain cleaning services.
Chemed (NYSE: CHE) will present at the Jefferies 2024 Global Healthcare Conference on Wednesday, June 5, 2024, at 9:00 a.m. (ET). The event will be held at the New York Marriott Marquis, with a live webcast available on the Chemed website. The webcast replay will be accessible for 90 days post-event. Chemed, headquartered in Cincinnati, Ohio, operates two subsidiaries: VITAS Healthcare, the largest provider of end-of-life hospice care in the U.S., and Roto-Rooter, the leading provider of plumbing and drain cleaning services in the U.S.
Chemed (NYSE:CHE) held its 2024 annual stockholders’ meeting, where 10 directors were elected, and PricewaterhouseCoopers LLP was ratified as the independent accountant for 2024. Stockholders approved the executive compensation but voted against a proposal on termination pay. Subsequently, Chemed's Board declared a quarterly cash dividend of 40 cents per share, payable on June 18, 2024, to stockholders of record as of May 30, 2024. This marks the 212th consecutive quarterly dividend in the company's 53-year history as a public entity. Chemed operates VITAS Healthcare, the nation's largest hospice care provider, and Roto-Rooter, a leading plumbing and drain cleaning service provider.
Chemed (CHE) will present at the Bank of America Securities Health Care Conference 2024 on May 14, 2024. The presentation will be webcast live and available for replay on the Chemed website. Chemed operates VITAS Healthcare and Roto-Rooter, with a focus on end-of-life hospice care and plumbing services.
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