Addus Homecare Corp
F:A41
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Addus Homecare Corp
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Addus Homecare Corp
Addus HomeCare is a home-based care company that helps older adults, people with disabilities, and patients with serious illness get care where they live. It provides personal care, hospice care, and home health services such as help with bathing, meals, medication support, and end-of-life care. Its customers are mainly individuals and families who need care at home, along with government health programs and managed care plans that arrange or pay for that care. The company makes money by billing for caregiving visits and related services through Medicaid, Medicare, private insurance, managed care contracts, and private pay. A big part of its business is personal care, where caregivers help clients with daily activities so they can stay out of nursing homes or hospitals when possible. What makes Addus different is that it sits close to the patient and works through a local, labor-heavy service model rather than a medical device or drug model. It is a care-delivery business built around recruiting caregivers, coordinating schedules, and serving people in their homes, which makes it an important link in the long-term care system.
Addus HomeCare is a home-based care company that helps older adults, people with disabilities, and patients with serious illness get care where they live. It provides personal care, hospice care, and home health services such as help with bathing, meals, medication support, and end-of-life care. Its customers are mainly individuals and families who need care at home, along with government health programs and managed care plans that arrange or pay for that care.
The company makes money by billing for caregiving visits and related services through Medicaid, Medicare, private insurance, managed care contracts, and private pay. A big part of its business is personal care, where caregivers help clients with daily activities so they can stay out of nursing homes or hospitals when possible.
What makes Addus different is that it sits close to the patient and works through a local, labor-heavy service model rather than a medical device or drug model. It is a care-delivery business built around recruiting caregivers, coordinating schedules, and serving people in their homes, which makes it an important link in the long-term care system.
Strong Q1: Addus reported revenue of $363.6 million, up 7.7% year over year, with adjusted EPS of $1.62 and adjusted EBITDA of $44.5 million, both up meaningfully from last year.
Personal Care: The largest segment kept driving results, helped by rate increases in Illinois and Texas, acquisitions, and better utilization of authorized hours despite a weather-related hit in January.
Indiana Expansion: Addus entered Indiana with the HomeCourt acquisition and signed a second deal there, saying the state offers attractive rates, managed Medicaid exposure, and room to build density.
Balance Sheet: Cash flow was strong, debt fell to $94.3 million, and management said the company is positioned to pursue larger acquisitions if they fit strategically.
Outlook: Management sounded confident that Personal Care growth will stay in the high end of its normal range, hospice should remain strong, and adjusted EBITDA margin should stay above 12% for the full year.
