Tuesday, housekeeping service provider Healthcare Services Group Inc. (HCSG), reported a 12% rise in profit for the second quarter, aided by a 16% rise in revenues, as well as higher investment and interest income. Earnings were in line with Street expectations while revenues beat market projections.
The Bensalem, Pennsylvania-based company's second quarter net income increased to $7.82 million or $0.18 per share from $7.00 million or $0.16 per share in the prior-year quarter. On average, seven analysts polled by Thomson Reuters estimated earnings of $0.18 per share for the quarter. Analysts' estimates typically exclude one-time charges and gains.
Quarterly revenues rose 16% to $171.00 million from $148.00 million last year, topping analysts consensus estimate of $168.55 million.
Income from operations for the quarter increased to $11.55 million from $11.00 million in the same quarter last year. Investment and interest income for the quarter surged to $1.16 million from $0.60 million in the corresponding period last year.
For the six-month period, net income rose to $15.55 million or $0.35 per share from $14.00 million or $0.31 per share in the same period last year. Revenues for the period rose to $331.31 million from $295.20 million last year.
The company also declared a quarterly dividend of $0.19 per share payable on August 7 to stockholders of record as of the close of business on July 24, 2009. The dividend leads to a 6% increase sequentially and 27% increase from the same period last year.
HCSG closed Tuesday's trading at $18.26, up $0.30 or 1.67%, on a volume of 0.14 million shares on the Nasdaq. In after hours, the stock further gained $0.20 or 1.10%, trading at $18.46.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.