HCSG Q1 revenue $417.2M, adjusted EBITDA up 18% to $27.5M

HEALTHCARE SERVICES GROUP INC

2023-Q1 EPS reported $0.17 revenue$417,230,000

GAAP net income $12.7M ($0.17 per share); adjusted EBITDA $27.5M, up 18% YoY.
Housekeeping & laundry revenue $193.5M (10.4% margin); dining & nutrition $223.7M (6.6% margin).
Direct cost of services 86.5% including $6.9M CECL AR reserve increase; SG&A 9.2% after adjustments.
Cash flow used in operations $16.3M; DSO 76 days; CEO cites improved collections and contract modification exit.
Effective tax rate 27.8% in Q1; full-year 2023 tax rate expected 24% to 26%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HEALTHCARE SERVICES GROUP INC reported the three months ended March 31, 2023 results: revenue $417.2 million, net income $12.7 million, EPS $0.17 per basic and diluted common share.

Period: the three months ended March 31, 2023
Revenue: $417.2 million
Net income: $12.7 million
EPS: $0.17 per basic and diluted common share
Result: reported results

Exact text from the filing

Healthcare Services Group, Inc. (NASDAQ:HCSG) (the “Company”) reported for the three months ended March 31, 2023 revenue of $417.2 million, GAAP net income of $12.7 million, or $0.17 per basic and diluted common share, and adjusted EBITDA of $27.5 million.

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Source: SEC EDGAR

accession 0000731012-23-000047

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