Every material Form 8-K Healthcare Services Group filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Healthcare Services Group reported third-quarter 2024 revenue of $428.1 million, up from $411.4 million a year earlier, and net income of $14.0 million, or $0.19 per diluted share, compared with a net loss of $5.0 million, or $0.07 per share, in the same quarter of 2023. The company reaffirmed its fourth-quarter revenue estimate of $430.0 million to $440.0 million and its 2024 adjusted cash flow from operations forecast of $40.0 million to $55.0 million.
Q3 2024 revenue of $428.1 million, up from $411.4 million in Q3 2023 and within the company's $425.0 million to $435.0 million expectation range.
Net income of $14.0 million, or $0.19 per diluted share, versus a net loss of $5.0 million, or $0.07 per share, a year earlier.
Reaffirmed Q4 2024 revenue estimate of $430.0 million to $440.0 million and 2024 adjusted cash flow from operations forecast of $40.0 million to $55.0 million.
Adjusted EBITDA of $24.8 million; cash and marketable securities of $130.0 million as of September 30, 2024.
Healthcare Services Group appointed Vikas Singh as Executive Vice President and Chief Financial Officer, effective September 3, 2024. Andrew Brophy, previously Principal Financial & Accounting Officer, was promoted to Senior Vice President, Controller and Chief Accounting Officer, per the press release. A CFO change is a significant leadership event, and Singh will oversee accounting, finance, corporate development and investor relations.
Vikas Singh, age 47, joins as EVP and CFO effective September 3, 2024, after serving as Managing Director at Bank of America Securities
Singh previously worked at Credit Suisse and Citibank, and began his career at GSK's Consumer Healthcare Division
Andrew Brophy named SVP, Controller and Chief Accounting Officer; he joined the Company in 2018
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.
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.
Healthcare Services Group reported first-quarter 2024 results on April 24, 2024. Revenue rose to $423.4 million from $417.2 million, net income rose to $15.3 million from $11.7 million, and diluted EPS was $0.21 versus $0.16 a year earlier. The company reiterated its 2024 adjusted cash flow range of $40.0 million to $55.0 million, but said the February Change Healthcare cyberattack disrupted customer collections during the quarter.
Revenue of $423.4 million compared with $417.2 million in the first quarter of 2023
Net income of $15.3 million and diluted EPS of $0.21, versus $11.7 million and $0.16 a year earlier
Cash flows used in operating activities were $26.0 million for the quarter
2024 adjusted cash flow from operations range of $40.0 million to $55.0 million reiterated
Healthcare Services Group reported fourth-quarter 2023 GAAP net income of $22.6 million, or $0.31 per diluted share, up from $16.2 million, or $0.22, a year earlier. GAAP revenue was $423.8 million, roughly flat compared with $424.0 million in the prior-year quarter, and the company expects first-quarter 2024 revenue of $420.0 million to $430.0 million, so shareholders see higher profit on essentially unchanged sales.
Q4 2023 GAAP net income was $22.6 million, or $0.31 per diluted share, versus $16.2 million, or $0.22, in Q4 2022.
Q4 2023 GAAP revenue was $423.8 million, compared with $424.0 million in Q4 2022; adjusted revenue was $425.0 million.
Q4 2023 adjusted EBITDA was $26.5 million, a 14.2% increase over Q4 2022, and cash flow from operations was $49.5 million.
The company estimates first-quarter 2024 revenue in the range of $420.0 million to $430.0 million and repurchased $11.2 million of stock in 2023.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Healthcare Services Group filing is on SEC EDGAR ↗. 8-K briefs of other companies →