Addus HomeCare (ADUS) Q3 FY2023 earnings: revenue $271 million, up 12.6% on the year

Addus HomeCare Corp. (ADUS) reported revenue of $271 million for Q3 FY2023, the quarter ended 30 September 2023, up 12.6% on the same quarter a year earlier. Net income was $15 million, up 33.5% on the year, and diluted earnings per share $0.95. The figures are the company's own, from the 10-Q it filed with the SEC on 31 October 2023.

Revenue$271 millionup 12.6%

Net income$15 millionup 33.5%

Diluted EPS$0.95

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	271	n/a	n/a	n/a
Cost of revenue	184	n/a	n/a	n/a
Gross profit	86.7	n/a	n/a	n/a
Gross margin	32.0%	n/a	n/a
Operating income	22.8	n/a	n/a	n/a
Operating margin	8.4%	n/a	n/a
Interest expense	3.2	n/a	n/a	n/a
Pre-tax income	20.2	n/a	n/a	n/a
Income tax	4.8	n/a	n/a	n/a
Effective tax rate	23.8%	n/a	n/a
Net income	15.4	n/a	n/a	n/a
Net margin	5.7%	n/a	n/a
Diluted EPS	$0.95	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	21.8	n/a	n/a	n/a
Capital expenditure	2.4	n/a	n/a	n/a
Free cash flow	19.4	n/a	n/a	n/a
Free cash flow margin	7.2%	n/a	n/a
Cash from investing	-111	n/a	n/a	n/a
Cash from financing	85.0	n/a	n/a	n/a
Depreciation and amortisation	3.6	n/a	n/a	n/a
Share-based compensation	2.6	n/a	n/a	n/a
Diluted shares, weighted	16m	n/a	n/a	n/a
Shares outstanding at period end	16m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	684	n/a	n/a	n/a
Debt	164	n/a	n/a	n/a
Operating lease liabilities	41.6	n/a	n/a	n/a
Other liabilities	146	n/a	n/a	n/a
Total liabilities and equity	1,036	n/a	n/a	n/a
Fixed assets	20.5	n/a	n/a	n/a
Goodwill	663	n/a	n/a	n/a
Intangible assets	93.8	n/a	n/a	n/a
Cash and equivalents	79.8	n/a	n/a	n/a
Receivables	121	n/a	n/a	n/a
Other assets	57.6	n/a	n/a	n/a
Total assets	1,036	n/a	n/a	n/a

Questions

What was Addus HomeCare's revenue in Q3 FY2023?

Addus HomeCare (ADUS) reported revenue of $271 million for Q3 FY2023, the quarter ended 30 September 2023, up 12.6% on the same quarter a year earlier.

How much did Addus HomeCare earn in Q3 FY2023?

Net income for Q3 FY2023 was $15 million, up 33.5% on the year, and diluted earnings per share $0.95.

When did Addus HomeCare report Q3 FY2023 results?

Addus HomeCare filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 31 October 2023.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	271	276	281	287	290	297	338	349	362	373	364	377
Cost of revenue	184	184	193	194	198	196	230	236	246	249	248	256
Gross profit	86.7	92.4	88.2	93.2	92.2	101	108	114	117	124	116	122
Gross margin	32%	33%	31%	32%	32%	34%	32%	33%	32%	33%	32%	32%
Operating income	22.8	28.0	23.6	26.2	26.0	26.9	30.5	32.9	32.9	42.3	34.1	38.9
Operating margin	8%	10%	8%	9%	9%	9%	9%	9%	9%	11%	9%	10%
Interest expense	3.2	3.1	2.8	2.1	0.6	2.3	4.0	3.5	3.3	2.7	2.2	1.7
Pre-tax income	20.2	25.4	21.3	24.5	27.3	26.2	27.0	29.9	30.4	40.1	32.4	37.8
Tax rate	24%	23%	26%	26%	26%	26%	21%	26%	25%	26%	23%	27%
Net income	15.4	19.6	15.8	18.1	20.2	19.5	21.2	22.1	22.8	29.8	25.1	27.6
Net margin	6%	7%	6%	6%	7%	7%	6%	6%	6%	8%	7%	7%
Diluted EPS	$0.95	$1.20	$0.97	$1.10	$1.10	n/a	$1.16	$1.20	$1.24	$1.61	$1.36	$1.49
Operating cash flow	21.8	30.0	38.7	18.8	48.5	10.4	18.9	22.5	51.3	18.8	52.4	40.0
Capital expenditure	2.4	5.3	1.4	1.1	1.9	1.7	1.9	1.3	1.9	2.7	1.7	1.3
Free cash flow	19.4	24.7	37.3	17.7	46.6	8.7	17.1	21.3	49.3	16.1	50.7	38.7
Shares outstanding	16m	16m	16m	18m	18m	18m	18m	18m	18m	19m	19m	19m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 31 October 2023, accession 0000950170-23-056903: the filing on EDGAR. All of Addus HomeCare Corp.'s filings: EDGAR company page.

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