Guidance for 2024
Management reiterates its estimated full-year 2024 earnings per diluted share, excluding: non-cash expense for stock options, tax benefits from stock option exercises, costs related to litigation, and other discrete items, guidance range of $23.30 to $23.70. Management anticipates providing updated 2024 earnings guidance and related subsidiary operating metrics as part of the June 30, 2024 earnings press release.
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/4/2022 | $609.00 → $579.00 | Outperform | RBC Capital |
| 7/29/2021 | $604.00 → $609.00 | Outperform | RBC Capital |
RBC Capital reiterated coverage of Chemed with a rating of Outperform and set a new price target of $579.00 from $609.00 previously
RBC Capital reiterated coverage of Chemed with a rating of Outperform and set a new price target of $609.00 from $604.00 previously
Oppenheimer reiterated coverage of Chemed with a rating of Outperform and set a new price target of $580.00 from $600.00 previously
Chemed Corporation (NYSE:CHE) announced today that the Board of Directors has formally authorized an additional $300 million for stock repurchase under Chemed's existing share repurchase program. These share repurchases will be funded through a combination of cash generated from operations as well as utilization of its revolving credit facility. The Board of Directors has declared a quarterly cash dividend of 50-cents per share on the Company's capital stock, payable on December 6, 2024, to shareholders of record as of November 18, 2024. This is equal to the dividend paid in August 2024. This represents the 214th consecutive quarterly dividend paid by Chemed in its 53 years as a public com
Chemed Corporation (NYSE:CHE) today announced that it will deliver a presentation at the UBS 2024 Global Healthcare Conference on Tuesday, November 12, 2024, at approximately 2:45 p.m. (ET) at the Terranea Resort in Rancho Palos Verdes, California. The presentation will be webcast live and can be accessed, along with the presentation materials, through the Chemed website at www.chemed.com (Investor Relations). The webcast replay will be available within 24 hours of the live presentation and will be accessible for 90 days. Listed on the New York Stock Exchange and headquartered in Cincinnati, Ohio, Chemed Corporation (www.chemed.com) operates two wholly owned subsidiaries: VITAS Healthcare
Chemed Corporation (Chemed) (NYSE:CHE), which operates VITAS Healthcare Corporation (VITAS), one of the nation's largest providers of end-of-life care, and Roto-Rooter, the nation's largest commercial and residential plumbing and drain cleaning services provider, reported financial results for its third quarter ended September 30, 2024, versus the comparable prior-year period. Changes to Non-GAAP Metrics Chemed uses certain non-GAAP metrics such as EBITDA, adjusted EBITDA, adjusted net income and adjusted diluted earnings per share, to provide additional context and perspective to reported operational results. Chemed's previously reported non-GAAP metrics during the four sequential quart
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Chemed Corporation (NYSE:CHE) announced today that the Board of Directors has formally authorized an additional $300 million for stock repurchase under Chemed's existing share repurchase program. These share repurchases will be funded through a combination of cash generated from operations as well as utilization of its revolving credit facility. The Board of Directors has declared a quarterly cash dividend of 50-cents per share on the Company's capital stock, payable on December 6, 2024, to shareholders of record as of November 18, 2024. This is equal to the dividend paid in August 2024. This represents the 214th consecutive quarterly dividend paid by Chemed in its 53 years as a public com
Chemed Corporation (Chemed) (NYSE:CHE), which operates VITAS Healthcare Corporation (VITAS), one of the nation's largest providers of end-of-life care, and Roto-Rooter, the nation's largest commercial and residential plumbing and drain cleaning services provider, reported financial results for its third quarter ended September 30, 2024, versus the comparable prior-year period. Changes to Non-GAAP Metrics Chemed uses certain non-GAAP metrics such as EBITDA, adjusted EBITDA, adjusted net income and adjusted diluted earnings per share, to provide additional context and perspective to reported operational results. Chemed's previously reported non-GAAP metrics during the four sequential quart
Chemed Corporation (NYSE:CHE) today announced that it will release financial results for the third quarter ended September 30, 2024, on Tuesday, October 29, 2024, following the close of trading on the New York Stock Exchange. Chemed will host a conference call and webcast at 10 a.m., ET, on Wednesday, October 30, 2024, to discuss the company's quarterly results and to provide an update on its business. Participants may access a live webcast of the conference call through the investor relations section of Chemed's website, Investor Relations Home | Chemed Corporation or the hosting website https://edge.media-server.com/mmc/p/c93ntfig/. Participants may also register via teleconference at:
VITAS Healthcare Corporation, a wholly-owned subsidiary of Chemed Corporation ("Chemed") (NYSE:CHE), announced it entered into an agreement on March 12, 2024 to acquire all hospice operations and an assisted living facility from Covenant Health and Community Services, Inc. d/b/a/ Covenant Care ("Covenant") for an aggregate purchase price of $85 million. Covenant's hospice operations span the panhandle of Florida and Alabama, specifically including the Tallahassee, Marianna, Fort Walton Beach, Panama City, Crestview and Pensacola markets in Florida, and the Dothan and Mobile/Daphne markets in Alabama. The transaction is structured as an asset purchase and parties will seek to close the tra
Chemed Corporation (NYSE:CHE) – Today Chemed Corporation's Board of Directors has appointed Michael D. Witzeman as Chief Financial Officer, effective January 1, 2024, following the retirement of David P. Williams from that role. Mr. Witzeman is currently Chemed's Vice President and Controller and serves as Chemed's principal accounting officer. He joined Chemed in 2005 following employment as Senior Manager of Assurance at Deloitte & Touche LLP. He is a licensed CPA and a BBA in Accounting from the University of Cincinnati and an MBA from The Ohio State University. Listed on the New York Stock Exchange and headquartered in Cincinnati, Ohio, Chemed Corporation (www.chemed.com) operates t
Chemed Corporation (NYSE:CHE) – After more than three decades, Executive Vice President and Chief Financial Officer David P. Williams has announced that he will retire as Chemed's Chief Financial Officer as of December 31, 2023, but Mr. Williams will continue to work with Chemed for the transition period and beyond in providing his guidance and the benefit of his expertise to the executive team and the Board of Directors. Throughout his career, David helped lead Chemed and its subsidiaries through unprecedented economic growth. "It has been a privilege to work with David as an integral part of our management team for these last three decades," said Chemed Chief Executive Officer, Kevin
Upward Revision to Guidance for 2024VITAS 2024 revenue, prior to Medicare Cap, is estimated to increase 16.3% to 17.3% when compared to 2023. ADC is estimated to increase 13.3% to 14.4%. Full year adjusted EBITDA margin, prior to Medicare Cap, is estimated to be 19.3% to 19.7%. We are currently estimating $8.5 million in Medicare Cap billing limitations in calendar 2024. The cost of the retention program negatively impacted VITAS' 2023 full year adjusted EBITDA by 159 basis points.Covenant Health is estimated to contribute approximately $30 million to $32 million of revenue to VITAS' full year revenue. There is no estimated Medicare Cap billing limitation expected related to Covenant Health.
Chemed (NYSE:CHE) reported quarterly earnings of $5.47 per share which missed the analyst consensus estimate of $5.59 by 2.15 percent. This is a 34.07 percent increase over earnings of $4.08 per share from the same period last year. The company reported quarterly sales of $595.88 million which missed the analyst consensus estimate of $599.19 million by 0.55 percent. This is a 7.60 percent increase over sales of $553.82 million the same period last year.
Chemed's (NYSE:CHE) short percent of float has risen 11.16% since its last report. The company recently reported that it has 312 thousand shares sold short, which is 2.39% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.89 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is impo