HCSG Q1 diluted EPS $0.21 beats expectations; revenue $423.4M in line; reiterates FY2024 cash flow guidance

HEALTHCARE SERVICES GROUP INC

2024-Q1 EPS reported $0.21 revenue$423,433,000

Diluted EPS of $0.21 (adjusted $0.22) exceeds expectations; net income $15.3M.
Revenue of $423.4M, in line with $420M-$430M guidance; Housekeeping & laundry $190.5M, Dining & nutrition $232.9M.
Adjusted EBITDA $28.9M, up 10.7% YoY; adjusted cost of services 84.4%.
Reiterates 2024 adjusted cash flow range of $40M-$55M; Q2 revenue guidance $420M-$430M.
Change Healthcare cyberattack impacted Q1 cash collections; achieved 95% cash collections; expects temporary headwind.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.8

HEALTHCARE SERVICES GROUP INC reported the three months ended March 31, 2024 results: revenue $423.4 million, EPS $0.21. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Revenue: $423.4 million
EPS: $0.21
Guidance: reaffirmed
Result: reported results

Exact text from the filing

(EX-99.1) --- HCSG Reports Q1 2024 Results Exceeds Earnings Expectations, Revenue In Line Reiterates 2024 Cash Flow Forecast & Expectation for YoY Revenue Growth • Revenue of $423.4 million, in line with expectations. • Net income and diluted EPS of $15.3 million and $0.21; adjusted net income (1) and adjusted diluted EPS (1) of $16.5 million and $0.22. • Adjusted

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