secwatch.observer — SEC 8-K summary
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Issuer:     HEALTHCARE SERVICES GROUP INC (HCSG)
CIK:        0000731012
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0000731012-23-000098
Event type: earnings
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

HCSG Q2 2023 revenue $418.9M, net income $8.6M, adjusted EBITDA $26.3M
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- Revenue $418.9M; housekeeping & laundry $190.8M (8.7% margin), dining & nutrition $228.1M (5.5% margin).
- GAAP net income $8.6M ($0.12 per diluted share); adjusted EBITDA $26.3M.
- Direct cost 87.8% including $11.3M CECL AR reserve increase; SG&A $41.4M (adjusted $39.1M).
- Cash flow from operations $7.4M; DSO 83 days; AR increased $39M due to timing of collections.
- CEO cites robust new business pipeline; three priorities: direct cost management, collections, new facility starts.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/731012/000073101223000098/0000731012-23-000098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/731012/000073101223000098/hcsg-20230726.htm
  HTML page:      https://secwatch.observer/filing/0000731012-23-000098

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