Healthcare Leaders Address Acquisition Strategies During Third-Quarter Earnings Calls as Strong Results Reported
Healthcare firms reported solid quarterly earnings during the week of October 31 with several executives mentioning the outlook for acquisitions. CVS Health Corporation on November 2 reported third-quarter results that featured double-digit percentage increases for total revenue in the quarter and the year. Revenue increased to $81.2 billion in the quarter, up 10% compared to the prior year. Revenue in the year-to-date period jumped to $238.6 billion, up 10.7% compared to the previous year. The Woonsocket, Rhode Island-based company raised its 2022 full-year cash flow from operations guidance range to $13.5 billion to $14.5 billion from $12.5 billion to $13.5 billion. On September 2, the... Read More »
U.S. Physical Therapy’s Q3 2022 Earnings Highlights
U.S. Physical Therapy, Inc (USPT) announced its financial results for the third quarter ended September 30, 2022. Earnings, adjusted for non-recurring gains, came to $0.58 per share, beating the Zacks Consensus Estimate of $0.55 per share. Despite the impact labor and inflation-related headwinds had on some financial metrics (net income and adjusted EBITDA), USPT still managed to report strong revenues and improved performance indicators, such as patient visits. USPT also remained active throughout the quarter with several acquisitions announced and completed. The Houston, Texas-based company reported: 10.9% increase in total revenue from $125.9 million in Q3:21 to $139.6 million in... Read More »
Addus HomeCare Corp.’s Q3 2022 Earnings Highlights
Addus HomeCare Corp., a provider of home care services, announced its financial results for the third quarter ended September 30, 2022. Despite staffing and Omicron-related headwinds, the company still reported revenue growth of 11% over the third quarter of 2021. Addus had revenue increases in its home health and hospice segments, demonstrating the strength and resilience of both operations. The Frisco, Texas-based company reported: 11% increase in net revenue from $216.7 million in Q3:21 to $240.5 million in Q3:22.12% increase in gross profit from $67 million (30.9% of net revenue) in Q3:21 to $75.2 million (31.3% of net revenue) in Q3:22.0.9% decrease in net income from $11.6 million... Read More »
Labcorp’s Q3 2022 Earnings Highlights
Laboratory Corporation of America Holdings (Labcorp), an S&P 500 global life sciences company, experienced a decline by nearly every financial metric (i.e. net revenue, gross profit, net earnings, operating income, etc.) and missed earnings estimates for the third quarter. Labcorp’s ‘robust’ acquisition strategy could not offset the impact of significant headwinds, including rising labor costs, labor shortages and other inflationary pressures. A major decrease in COVID-19 PCR and antibody testing sales also contributed to the decline in organic revenues. The reduced guidance for 2022 is indicative of this downward trend continuing into the final quarter of the year. The Burlington,... Read More »
Option Care Health’s Q3 2022 Earnings Highlights
On Thursday, October 27, 2022, Option Care Health, Inc., the nation’s largest independent provider of home and alternate site infusion services, announced financial results for the third quarter ended September 30, 2022. The Bannockburn, Illinois-based company reported: 14.5% increase in net revenue from $891.9 million in Q3:21 to $1.02 billion in Q3:227.4% increase in gross profit from $203 million (22.8% of net revenue) in Q3:21 to $218 million (21.4% of net revenue) in Q3:229.3% increase in net income from $35.5 million ($0.20 per share) in Q3:21 to $38.8 million ($0.21 per share) in Q3:229.8% increase in adjusted EBITDA from $78 million (8.7% of net revenue) in Q3:21 to $85.6 million... Read More »Schedule a demo
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