LHC Group (LHCG) Tops Q1 EPS by 6c

LHC Group (NASDAQ: LHCG) reported Q1 EPS of $0.75, $0.06 better than the analyst estimate of $0.69. Revenue for the quarter came in at $512.9 million versus the consensus estimate of $503.98 million.

Outlook:

Joshua L. Proffitt, LHC Group’s Chief Financial Officer, added, “The accelerating organic growth and results we generated in the first 11 weeks of the first quarter combined with our new care model and associated operational strategies under PDGM exceeded our previous expectations. We had a brief but good look at the future of LHC Group – and we really like what we see. With a ramp up of patient volumes anticipated in the second half of the year as elective surgeries begin again and as we are able to fully execute under the PDGM model, we believe we are well positioned for a much higher velocity entering 2021. Working closely with our joint venture partners in hospitals and health systems throughout the country during this pandemic has allowed us to demonstrate our value proposition in real time. With those partnerships proving out every day and the historic consolidation we are anticipating within the in-home healthcare industry only temporarily forestalled due to COVID-19, we believe all of the factors are in place to drive an even more compelling consolidation opportunity than predicted a few months ago.”

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

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