Addus HomeCare Corporation (ADUS) stock is soaring 5.25% in Tuesday's intraday trading session, following the company's impressive first-quarter earnings report released late Monday. The home care services provider outperformed analyst expectations, demonstrating strong financial performance despite challenging market conditions.
According to the earnings report, Addus HomeCare posted adjusted earnings of $1.42 per diluted share for Q1, significantly surpassing the FactSet analyst consensus of $1.33. This represents a substantial increase from $1.21 per share in the same quarter last year. The company's revenue also showed robust growth, reaching $337.7 million for the quarter ended March 31, up from $280.7 million in the previous year. While the revenue slightly missed the FactSet analyst expectations of $339.9 million, the strong bottom-line performance appears to have overshadowed this minor shortfall.
The market's positive reaction to Addus HomeCare's earnings report was evident even in after-hours trading on Monday, with shares rising 2.3%. The continued surge in Tuesday's regular trading session underscores investors' confidence in the company's financial health and growth prospects. As the demand for home care services continues to grow, Addus HomeCare's strong performance positions it well in the competitive healthcare sector.
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