HCSG Q1 2022 revenue $426.8M, net income $11.3M ($0.15 EPS); declares $0.2125 dividend

HEALTHCARE SERVICES GROUP INC

2022-Q1 EPS reported $0.15 revenue$426,811,000

Revenue $426.8M (housekeeping/laundry $201.7M, dining/nutrition $225.1M).
Direct cost of services 87.5%; target to exit year at historical 86% via service agreement modifications.
Adjusted SG&A $39.5M; expects FY 2022 SG&A 8.5%-9.5% and effective tax rate 24%-26%.
Quarterly cash dividend $0.2125 per share, payable June 24 to holders of record May 20 (75th consecutive increase).
Cash outflow from operations $30.2M; DSO 68 days, impacted by $27.2M AR increase.

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