Healthcare Services Shares Fall After Estimating Charges Linked to Genesis Bankruptcy

MT Newswires Live
11 Jul

Healthcare Services Group (HCSG) stock was down more than 10% in recent Thursday trading after the company said it expects to record non-cash charges tied to Genesis HealthCare's Chapter 11 bankruptcy filing.

Healthcare Services, which provides services to 164 Genesis facilities, said it expects a Q2 non-cash charge of about $0.62 per share and a Q3 charge of about $0.03 to $0.04 per share.

Despite the expected impact, the company reiterated its 2025 guidance for mid-single-digit revenue growth and $60 million to $75 million in cash flow from operations, excluding the change in payroll accrual. Healthcare Services also said it expects to continue providing services and receiving payments from Genesis facilities without disruption.

Price: 13.16, Change: -1.50, Percent Change: -10.23

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