UPDATE: LHC Group (LHCG) Tops Q3 EPS by 2c, Beats on Revenues; Boosts FY17 EPS/Revenue Outlook

LHC Group (NASDAQ: LHCG) reported Q3 EPS of $0.61, $0.02 better than the analyst estimate of $0.59. Revenue for the quarter came in at $272.9 million versus the consensus estimate of $265.64 million.

Fiscal Year 2017 Guidance

LHC Group raised its issued fiscal year 2017 guidance for net service revenue to be in an expected range of $1.05 billion to $1.06 billion, from the previous range of $1.03 billion to $1.045 billion, and GAAP earnings per diluted share to be in an expected range of $2.35 to $2.40, from the previous range of $2.30 to $2.40.

The Company’s fiscal year 2017 financial guidance includes the expenses of approximately $0.03 per fully diluted share for the third quarter of 2017 related to the CHRISTUS joint venture transaction and one agency closure in Oklahoma. The guidance ranges do not take into account the impact of future reimbursement changes, if any, future acquisitions, if made, de novo locations, if opened, or future legal expenses, if necessary.

Financial Results for the Third Quarter of 2017 Compared with Third Quarter of 2016

• Net service revenue increased 18.2% to $272.9 million compared with $230.8 million.
• Net income attributable to LHC Group’s common stockholders was $10.9 million, up 13.5% from $9.6 million, while earnings per diluted share attributable to LHC Group’s common stockholders increased 13.0% to $0.61 per diluted share from $0.54.
• Adjusted net income attributable to LHC Group’s common stockholders, which excludes expenses related to the CHRISTUS joint venture transaction and one agency closure in Oklahoma, was $11.5 million, up 19.8% from $9.6 million, or $0.64 per diluted share.
• Total organic growth in home health admissions was 6.2%.
• Total organic revenue growth in home health was 10.3%.

GUIDANCE:

LHC Group sees FY2017 EPS of $2.35-$2.40, versus the consensus of $2.39. LHC Group sees FY2017 revenue of $1.05-1.06 billion, versus the consensus of $1.05 billion.

For earnings history and earnings-related data on LHC Group (LHCG) click here.

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