Chemed Corp

Latest Results (12.05.2026):

Chemed Corp — Fourth quarter 2025: Consolidated revenue was essentially flat at $639.3 million. GAAP diluted EPS was $5.48 (down 9.0% year-over-year) and adjusted diluted EPS was $6.42 (down 6.0%). The quarter showed mixed performance across the two operating segments: VITAS hospice saw modest top‑line growth with higher admissions and ADC, while Roto‑Rooter reported lower revenue, margin compression and weaker EBITDA year-over-year.

Consolidated results

Revenue: $639.3M (flat vs Q4 2024). GAAP diluted EPS: $5.48 (−9.0%). Adjusted diluted EPS: $6.42 (−6.0%). Consolidated adjusted EBITDA for the quarter was $132.6M (per company reconciliation). Full-year 2025 revenue was $2.530B (up vs $2.431B in 2024) and net income for 2025 was $265.2M (down from $302.0M in 2024).

VITAS (hospice) segment — quarter

Net patient/net revenue: $418.8M (increase ~1.9%). Average daily census (ADC): 22,462 (up 1.3%). Admissions: 17,419 (up 6.0%). VITAS adjusted EBITDA (excluding Medicare Cap) was reported at ~$91.6M (down ~1.7%); adjusted EBITDA margin (ex‑Cap) was 21.7% (down ~79 bps). Gross margin (ex‑Medicare Cap) was 27.3% (down 150 bps). Medicare cap allowance for the quarter was ~$2.4M; of 33 Medicare provider numbers, 22 have >10% cushion, six between 0–10%, and five have a Medicare Cap billing limitation.

Roto‑Rooter (service) segment — quarter

Revenue: $220.6M (down 3.7% vs prior‑year quarter). Reported net income excluding certain discrete items: $33.8M (down 20.6%). Adjusted EBITDA: $47.5M (down 21.1%); adjusted EBITDA margin: 21.5% (declined ~477 bps). Gross margin: 49.8% vs 51.3% in prior year quarter — indicating margin compression.

Balance sheet, cash flow & buybacks

Cash and cash equivalents at quarter end: $74.5M, down from $178.4M a year earlier. Total assets: $1.538B; total liabilities: $558.8M; total stockholders’ equity: $979.4M. During the quarter the company repurchased 400,000 shares (buyback dollar amount not stated in the excerpt). Net cash used by financing activities was sizable for the year (reflecting share repurchases and dividends).

2026 guidance and outlook

Chemed provided preliminary 2026 guidance centered on VITAS growth and second‑half weighting: VITAS 2026 revenue (prior to Medicare Cap) is estimated to increase 5.5%–6.5%, ADC estimated +3.5%–4.0%, and full‑year EBITDA margin (prior to Medicare Cap) estimated 17.5%–18.0%. Management said 2026 adjusted EPS is weighted to the second half; the specific EPS range referenced in the release excerpt was not included.