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Addus HomeCare Corp.: Q3 FY2026 earnings call

What management said about Q3 FY2026, from the documents filed with the SEC on 3 November 2026: press release. Guidance figures: 1 new. The quarter’s numbers.

Key takeaways

  • Revenue and net income rose: Net service revenues were $387.7 million, up 7.0% from $362.3 million. Net income was $28.6 million, or $1.54 per diluted share, against $1.24 a year earlier. Source
  • Adjusted EPS and EBITDA grew: Adjusted diluted EPS was $1.83 against $1.56. Adjusted EBITDA rose 13.5% to $51.2 million from $45.1 million. Source
  • Personal care was 77.6% of revenue: Personal care revenue was $301.0 million against $275.8 million a year earlier. Organic revenue in the segment rose 6.9%. Source
  • Hospice reached 17.8% of revenue: Hospice revenue was $69.0 million, or 17.8% of the quarter. Average daily census rose 4.3% year over year, and hospice revenue was flat against the prior year as reported. Source
  • AccentCare personal care deal signed: The company agreed to buy AccentCare's personal care division for about $275.0 million, subject to purchase price adjustments, following the September 14 announcement. Source
  • Deal adds about $280 million revenue: Management said the transaction adds roughly $280 million in annualized revenue and expands capabilities in Texas, Illinois, California and Arizona. Source
  • Operating cash flow of $40.9 million: Operating cash flow was $40.9 million in the quarter, against $51.3 million a year earlier. Nine-month operating cash flow was $133.3 million. Source
  • Bank debt down, liquidity ample: Cash was $98.5 million and bank debt was $24.3 million, down from $64.3 million at June 30. Revolver capacity was $650.0 million, with $617.8 million available. Source

“The demand for high-quality, cost-effective care in the home setting remains strong, and our team continues to execute well on our growth initiatives.”

Dirk Allison, Chairman and Chief Executive Officer

Guidance

AreaPeriodFigureAgainst last quarter
Revenue from AccentCare personal care division SourceAnnualized, after closingroughly $280 millionNew

What changed from last quarter

  • New: The company announced on September 14, 2026 a definitive agreement to acquire the personal care division of AccentCare for about $275.0 million, subject to purchase price adjustments. The prior-quarter release did not mention it. Source

Results and growth drivers

  • Revenue and net income rose: Net service revenues were $387.7 million, up 7.0% from $362.3 million. Net income was $28.6 million, or $1.54 per diluted share, against $1.24 a year earlier. Source
  • Adjusted EPS and EBITDA grew: Adjusted diluted EPS was $1.83 against $1.56. Adjusted EBITDA rose 13.5% to $51.2 million from $45.1 million. Source
  • Nine-month totals rose: Nine-month net service revenues were $1.129 billion, up 7.6%. Nine-month net income was $81.3 million, and adjusted diluted EPS was $5.19 against $4.48. Source

Segments and service lines

  • Personal care was 77.6% of revenue: Personal care revenue was $301.0 million against $275.8 million a year earlier. Organic revenue in the segment rose 6.9%. Source
  • Volume and HomeCourt drove personal care: Management cited organic volume expansion and the first full quarter of contribution from HomeCourt Home Care. Source
  • Hospice reached 17.8% of revenue: Hospice revenue was $69.0 million, or 17.8% of the quarter. Average daily census rose 4.3% year over year, and hospice revenue was flat against the prior year as reported. Source
  • Home health returned to growth: Home health revenue was $17.7 million. Management described a return to year-over-year organic revenue growth in the segment. Source

“As we expand our multi-state footprint, we remain disciplined in identifying complementary opportunities that build market density and enhance operational scale.”

Dirk Allison, Chairman and Chief Executive Officer

Demand, volumes and census

  • Personal care census and hours up: Average billable census was 50,948 against 50,480. Billable hours were 11.3 million against 10.9 million, and revenue per billable hour was $26.67 against $25.40. Source
  • Home health admissions and volume rose: Home health accounted for 4.6% of revenue. Organic new admissions rose 13.8% and organic volume rose 11.5%, while visits were 90,240 against 90,639. Source
  • Hospice admissions and stay lengthened: Hospice admissions were 3,344 against 3,326. Average discharge length of stay was 108.8 days against 89.6, and patient days rose to 371,399. Source

Costs, margins and pricing

  • Cost controls cited for profit growth: Management attributed the adjusted EBITDA and net income expansion to disciplined cost controls and operating leverage. Source
  • Acquisition costs excluded from adjusted EPS: Acquisition expenses were $3.9 million, or $0.16 per diluted share, and were excluded from adjusted EPS along with $0.12 of stock-based compensation. Source
  • State rate adjustments cited as benefit: Management described historical favorable rate adjustments in Illinois, Texas and New Mexico as ongoing benefits to personal care revenue. Source
  • Hospice comparison excludes prior concession: Excluding a prior-year implicit price concession, hospice organic revenue grew 8.8%. As reported, hospice organic revenue grew 4.1%. Source

“Our performance is a direct reflection of our compassionate caregivers who provide exceptional care to the communities we serve every single day.”

Dirk Allison, Chairman and Chief Executive Officer

Acquisition and strategy

  • AccentCare personal care deal signed: The company agreed to buy AccentCare's personal care division for about $275.0 million, subject to purchase price adjustments, following the September 14 announcement. Source
  • Deal adds about $280 million revenue: Management said the transaction adds roughly $280 million in annualized revenue and expands capabilities in Texas, Illinois, California and Arizona. Source
  • Deal excludes New York operations: The agreement covers AccentCare's personal care operations outside New York and is expected to close after regulatory approvals. Source
  • Three levels of care cited: Management described offering personal care, hospice and home health as an advantage in working with managed care plans and value-based partners. Source

Cash, balance sheet and liquidity

  • Operating cash flow of $40.9 million: Operating cash flow was $40.9 million in the quarter, against $51.3 million a year earlier. Nine-month operating cash flow was $133.3 million. Source
  • Bank debt down, liquidity ample: Cash was $98.5 million and bank debt was $24.3 million, down from $64.3 million at June 30. Revolver capacity was $650.0 million, with $617.8 million available. Source
  • Capacity to fund growth: Management said low leverage and revolver availability give the company capacity to fund growth investments, including the pending acquisition. Source

Coming up, as management said on 3 November 2026

  • AccentCare closing and integration: Management said it looks forward to closing and integrating the AccentCare personal care operations and growing its caregiver network. No closing date is given. Source

Figures management reported

FigureReported
Personal care organic revenue growth Source6.9%
Hospice average daily census organic growth Source4.3%
Hospice adjusted organic revenue growth Source8.8%
Patients and consumers served Sourceapproximately 62,500

Risks management discussed

  • Regulatory: Management said the AccentCare closing depends on regulatory approvals and on customary closing conditions being satisfied. Source
  • Operational: Management pointed to closing and integrating the AccentCare personal care operations as work still ahead. Source

Earlier plans management reported on

  • Not stated: The second-quarter release anticipated acting on synergies and further growth through 2026. The third-quarter release does not report on that anticipated activity.
  • Not stated: Closing is expected after regulatory approvals and customary conditions. The release gives no closing date and no status update. Source

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.