Shares of Addus HomeCare (ADUS) are soaring 5.25% in Tuesday's intraday trading session, following the company's impressive first-quarter earnings report released late Monday. The strong performance has sparked investor enthusiasm, pushing the stock to significant gains.
Addus HomeCare reported adjusted earnings of $1.42 per diluted share for Q1, surpassing the FactSet analyst consensus of $1.33 and showing considerable growth from $1.21 in the same quarter last year. While the company's revenue of $337.7 million fell slightly short of the expected $339.9 million, it still represented a substantial increase from $280.7 million in the year-ago period.
The market's positive reaction suggests that investors are focusing on Addus HomeCare's ability to exceed earnings expectations, despite the minor revenue miss. This strong start to the fiscal year could indicate improved operational efficiency and potential for future growth, contributing to the stock's significant upward movement in today's trading session.
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