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Healthcare Services Group (HCSG) Misses Q2 EPS by 17c

July 21, 2021 7:04 AM EDT

Healthcare Services Group (NASDAQ: HCSG) reported Q2 EPS of $0.13, $0.17 worse than the analyst estimate of $0.30. Revenue for the quarter came in at $398.2 million versus the consensus estimate of $407.46 million.

Ted Wahl, Chief Executive Officer, stated, “While Q2 reported results were impacted by temporary or non-recurring items, our underlying operational and financial performance was strong and in line with recent quarters as we continue to execute on our strategy and manage the elements of our business that are within our control.”

Mr. Wahl continued, “Also during Q2, we agreed to temporarily modify the terms of our agreements with Genesis, as it continues to work through its restructuring plan. We believe that these temporary adjustments, in conjunction with concessions made by other stakeholders, are in our best interest as Genesis’ facilities provide a broad platform for strategic opportunities in the future.”

Mr. Wahl concluded, “We remain encouraged by the stabilizing industry landscape, while also cognizant that significant uncertainty related to COVID-19 remains. We’ll continue to closely monitor the various interrelated factors that will play a crucial role in industry recovery, including immunization rates, occupancy trends, staffing levels, and government funding. Looking ahead, given the new dining & nutrition agreements, we’re excited about our return to growth in Q3 and are confident the Company is well positioned for long-term growth.”

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



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