HCSG Q3 GAAP net loss of $5.5 million; adjusted EPS $0.17, raises cash flow outlook
Healthcare Services Group reported a GAAP net loss of $5.5 million, or $(0.07) per diluted share, for the quarter ended September 30, 2023, compared with net income of $0.3 million a year earlier. Excluding non-GAAP adjustments, including $21.7 million of client restructuring charges, adjusted diluted EPS was $0.17, up 13.3%, and the company raised its second-half 2023 operating cash flow expectation to $35.0 million to $45.0 million.
Key points
- GAAP revenue was $411.4 million versus $414.5 million in Q3 2022; adjusted revenue was $424.0 million.
- Net loss of $5.5 million, or $(0.07) per diluted share, compared with net income of $0.3 million in Q3 2022.
- Adjusted diluted EPS of $0.17 versus $0.15 a year earlier; adjusted cash flow from operations was $18.0 million.
- Second-half 2023 cash flow from operations expectation raised to $35.0 million to $45.0 million from $20.0 million to $30.0 million.
The filing
Written by AI on Nov 8, 2026, 6:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 25, 2023.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.