Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Chemed Results Top Estimates; Outlook Strong

RELATED NEWS
Trade CHE now with 

Chemed Corp. (CHE: Quote) said Monday that its fourth quarter profit rose 4% from last year, as strong performance by its VITAS segment more than offset the weakness in its Roto-Rooter segment.

The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave a strong earnings outlook for the current year.

Chemed operates VITAS Healthcare Corp., the largest U.S. provider of end-of-life care, and Roto-Rooter, the largest commercial and residential plumbing and drain cleaning services provider in the U.S.

Fourth quarter revenue for the VITAS segment rose 7.2% to $273 million, due to a 5.4% increase in Average Daily Census.

Roto-Rooter's plumbing and drain cleaning business generated fourth quarter revenue of $95.6 million, a decrease of 0.1% from a year earlier.

For the fourth quarter ended December 31, 2012, Chemed reported net income of $26.7 million or $1.40 per share, compared to $25.7 million or $1.31 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $29.9 million or $1.57 per share, compared to $28.3 million or $1.45 per share in the prior year quarter.

On average, 5 analysts polled by Thomson Reuters expected the company toe earn $1.48 per share for the fourth quarter. Analysts' estimates typically exclude special items.

Chemed's total revenue for the fourth quarter rose 5.2% to $368.58 million from $350.25 million in the same quarter last year. Four analysts had a consensus revenue estimate of $364.95 million for the fourth quarter.

Looking forward, Chemed forecast 2013 adjusted earnings of $5.65 to $5.80 per share. Analysts currently expect the company to earn $5.47 per share for the full year 2013.

Chemed shares closed Friday's regular trading session at $76.09, down 71 cents.

Register
To receive FREE breaking news email alerts for Chemed Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Beverages giant Coca-Cola Co. reported Tuesday a profit for the third quarter that decreased 14 percent from last year, despite higher worldwide volumes, reflecting a revenue drop. Adjusted earnings per share matched analysts' expectations, even as quarterly revenues missed their estimates. Following the announcement, the company's shares are trading more than five percent lower in early deals. Apple Inc. said Monday that its fourth quarter profit rose 13% from last year, driven by strong sales of its iPhones and Mac computers. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly sales. At the same time, the company gave an upbeat revenue forecast for the current quarter, which includes the all important holiday season. Programmable chipmaker Xilinx Inc. (XLNX) said Thursday after the markets closed that its second quarter profit rose 21% from last year, helped by higher revenue and better cost control. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue....
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.