Addus HomeCare Corp

ADUS

Equity

ISIN US0067391062 / Valor 10385048

NASDAQ (2024-11-20)

USD 120.99+0.66%

Addus HomeCare Corp
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About company

Addus HomeCare Corp, established in 1979, has evolved significantly from its origins as a home cleaning service catering to Chicago's at-risk elderly population. Over the past four decades, the company has expanded its scope and scale, now operating 210 offices across 22 states. Addus has refined its strategy to focus on growth within its existing markets while broadening its service offerings to include clinical care. Currently, the company provides personal care services to over 42,000 patients and extends its home health and hospice services to more than 3,600 patients. This strategic shift underscores Addus HomeCare Corp's commitment to supporting the elderly, disabled, and chronically ill individuals, aiming to prevent hospitalization or institutionalization by offering comprehensive in-home care solutions.

Summarized from source with an LLMView SourceSector: Healthcare

Revenue Growth

In the first quarter of 2024, Addus HomeCare Corp reported a significant revenue increase of 11.6%, reaching $280.7 million compared to $251.6 million in the first quarter of 2023. This growth underscores the company's expanding market presence and operational efficiency in delivering home-based care services.

Net Income Increase

Addus HomeCare Corp achieved a net income of $15.8 million in the first quarter of 2024, which represents an increase from $12.7 million recorded in the same period the previous year. The net income per diluted share also rose from $0.78 in the first quarter of 2023 to $0.97 in the first quarter of 2024.

Adjusted EBITDA Growth

The company's adjusted EBITDA saw a robust increase of 24.6%, amounting to $32.4 million in the first quarter of 2024, up from $26.0 million in the corresponding quarter of 2023. This improvement reflects Addus HomeCare's enhanced operational effectiveness and cost management strategies.

Cash Flow and Liquidity

As of March 31, 2024, Addus HomeCare Corp reported strong cash flows with $38.7 million generated from operations during the quarter. The company's cash position stood at $76.7 million, with a substantial capacity under its revolving credit facility, highlighting its solid financial stability and ability to fund future growth initiatives.

Future Outlook

Looking ahead, Addus HomeCare Corp's CEO Dirk Allison expressed optimism about the company's trajectory in 2024, emphasizing ongoing efforts to explore acquisition opportunities and expand market reach. The company aims to leverage its competitive advantages and enhance shareholder value through strategic growth and operational excellence in the home-based care sector.

Summarized from source with an LLMView Source

Key figures

37.9%1Y

20.5%3Y

37.0%5Y

Performance

27.9%1Y

37.8%3Y

43.9%5Y

Volatility