secwatch.observer — SEC 8-K summary
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Issuer:     HEALTHCARE SERVICES GROUP INC (HCSG)
CIK:        0000731012
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0000731012-23-000047
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/731012/000073101223000047/0000731012-23-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/731012/000073101223000047/hcsg-20230426.htm
  HTML page:      https://secwatch.observer/filing/0000731012-23-000047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer