Healthcare Services Group (HCSG) Tops Q2 EPS by 5c, Revenues Beat

Healthcare Services Group (NASDAQ: HCSG) reported Q2 EPS of $0.31, $0.05 better than the analyst estimate of $0.26. Revenue for the quarter came in at $452 million versus the consensus estimate of $449.41 million.

Ted Wahl, Chief Executive Officer, stated, “During the quarter we continued our intensive operational focus on mitigating the effects of COVID-19 and remained steadfast in our commitment to support our customers in the care of their patients and residents. In the face of unprecedented challenges, it has been beyond inspiring to witness our HCSG heroes as they, alongside our clients’ employees, positively and profoundly impact the lives of America's most vulnerable each and every day.”

Mr. Wahl continued, “Prior to the onset of the pandemic, sector fundamentals were improving on the heels of positive trends around occupancy, reimbursement and lease costs. While COVID-19 has presented the industry with its share of near-term challenges, we’ve been encouraged by swift and decisive federal and state agency actions in support of providers. As we continue to navigate this crisis, we will continue to assess the impact of COVID-19 on our business and our industry, including the trends we are seeing with regard to lower census and increased costs.”

For earnings history and earnings-related data on Healthcare Services Group (HCSG) click here.

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