Addus HomeCare reports Q4 EPS $1.38, consensus $1.36

Reports Q4 revenue $297.1M, consensus $291.0M. Commenting on the results, Dirk Allison, CEO, said, “Our fourth quarter financial and operating performance marked a strong finish to another successful year for Addus. We achieved top-line revenue growth of 7.5%, and adjusted EBITDA was 10.3% higher for the fourth quarter of 2024 compared with the same period last year. For the year, revenues were up 9.1% to reach $1.15 billion, a new annual high for Addus. These results reflect robust demand for our home-based care services and our ability to meet this demand with our proven operating model across the care continuum. Our personal care services have been the key driver of our business, accounting for 74.1% of our revenue for the fourth quarter. We achieved a 5.8% organic revenue growth rate in personal care over the fourth quarter last year, and our annual organic growth was 7.7%, reflecting both higher volumes and favorable reimbursement trends. Results for the fourth quarter included one month from our acquisition of the personal care operations of Gentiva, which closed on December 2, 2024. The consolidated financial results for the fourth quarter excluded the Company’s operations in New York, in connection with our previously announced agreement with HCS-Girling to divest the Company’s New York personal care operations and exit the state. Our hospice services accounted for 19.9% of our business with solid organic revenue growth of 7.8% over the fourth quarter last year. We are pleased with the steady improvement in average daily census, patient days and revenue per patient day compared with the same period last year. We implemented changes to our sales leadership late in the third quarter which we believe will result in continued improvement in admission volumes. Our home health services, which is our smallest business segment, accounted for 6.0% of total revenue for the fourth quarter.”