Addus HomeCare Corporation ( (ADUS) ) has released its Q4 earnings. Here is a breakdown of the information Addus HomeCare Corporation presented to its investors.
Addus HomeCare Corporation is a provider of home care services, including personal care, hospice, and home health services, primarily catering to individuals at risk of hospitalization or institutionalization. In its latest earnings report, Addus HomeCare announced a 7.5% increase in net service revenues for the fourth quarter of 2024, reaching $297.1 million. The company also reported a net income of $19.5 million and an adjusted EBITDA increase of 10.3% year-over-year to $37.8 million. For the full year, revenues rose by 9.1% to $1.15 billion, with net income climbing to $73.6 million.
Key financial highlights include a 5.8% organic revenue growth in personal care services, which accounted for 74.1% of the company’s revenue in the fourth quarter. The acquisition of Gentiva’s personal care operations significantly contributed to this growth, adding approximately $280 million in annualized revenues. Additionally, hospice services experienced a 7.8% organic revenue growth, while home health services, the smallest segment, accounted for 6.0% of total revenue.
The company ended the year with $98.9 million in cash and $223.0 million in bank debt, maintaining a strong financial position to support strategic growth initiatives. Addus HomeCare’s acquisition strategy remains a key focus, with the Gentiva acquisition marking the largest in its history, expanding its market coverage in several states.
Looking ahead, Addus HomeCare is optimistic about future acquisition opportunities and plans to maintain a disciplined approach to identifying strategic fits. The company aims to leverage its personal care network and add clinical services, enhancing its competitive advantage and market position.