HCSG swings to Q2 net loss of $1.8 million but raises second-half revenue estimates
Healthcare Services Group reported a second-quarter net loss of $1.8 million, or $0.02 per diluted share, compared with net income of $8.3 million a year earlier, even though revenue rose to $426.3 million. The company said the loss reflects client restructuring charges, including those tied to the LaVie Care Centers Chapter 11 filing. The company raised its third- and fourth-quarter revenue estimates and reaffirmed its 2024 adjusted cash flow forecast of $40.0 million to $55.0 million.
Key points
- Q2 2024 revenue was $426.3 million, up from $418.9 million in Q2 2023 and in line with the company's expectation of $420.0 million to $430.0 million.
- Net loss of $1.8 million, or $0.02 per diluted share, versus net income of $8.3 million, or $0.11 per diluted share, in Q2 2023; results include a $0.22 per share impact from client restructuring bad debt expense.
- Q3 2024 revenue estimate raised to $425.0 million to $435.0 million; Q4 2024 estimate raised to $430.0 million to $440.0 million.
- 2024 adjusted cash flow from operations forecast of $40.0 million to $55.0 million reaffirmed; Q2 adjusted cash flow used in operations was $2.4 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 July 24, 2024.
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.