Chemed Corporation Reports Third-Quarter 2024 Financial Results

Chemed Corporation, a Delaware-based company operating VITAS Healthcare Corporation and Roto-Rooter, recently released its financial results for the quarter ending September 30, 2024. The company’s press release highlighted various aspects of its operations and financial performance during this period.

In the third quarter of 2024, Chemed reported a 7.4% increase in revenue, reaching $606.2 million. The GAAP Diluted Earnings-per-Share (EPS) saw a 1.4% increase at $5.00, while the Adjusted Diluted EPS increased by 6.0% to $5.64 during the same period.

Noteworthy figures from VITAS Healthcare Corporation, a provider of end-of-life care services, included a Net Patient Revenue of $391.4 million, marking a 17.3% increase. Additionally, the VITAS segment reported positive growth in metrics such as Average Daily Census, Admissions, Net Income, and Adjusted EBITDA.

On the other hand, Roto-Rooter, a residential and commercial plumbing and drain cleaning services provider, reported a decrease in revenue by 6.9% to $214.8 million for the quarter.

Chemed Corporation ended the quarter with total cash and cash equivalents of $238.5 million and no outstanding debt. Moreover, the company repurchased 100,000 shares of Chemed stock for $57.8 million during the quarter and still has around $168.1 million remaining under its share repurchase authorization.

Looking ahead, the company revised its guidance for 2024, anticipating earnings per diluted share to be in the range of $23.00 to $23.15, representing a 13.3% to 14.0% increase from the reported adjusted earnings per diluted share in 2023.

Chemed Corporation is set to host a conference call and webcast on Wednesday, October 30, 2024, at 10 a.m. ET to discuss its quarterly results and business update. Interested participants can access the live webcast through the company’s investor relations section website or the hosting website.

It is important to note that Chemed Corporation utilizes non-GAAP metrics such as EBITDA and Adjusted EBITDA to provide additional context to its financial results. These metrics are intended to assist investors in evaluating the company’s performance across fiscal periods.

Investors are warned that forward-looking statements included in the press release are subject to risks and uncertainties. They are advised not to place undue reliance on these statements as they may differ due to various factors affecting the company’s operations.

Chemed Corporation continues to operate within the healthcare and plumbing industries, aiming to provide exceptional services to its customers. The adept handling of financials and operational growth further solidifies its position in the market.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Chemed’s 8K filing here.

About Chemed

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.