Addus HomeCare Announces Second Quarter 2026 Financial Results

FRISCO, Texas--(BUSINESS WIRE)--Addus HomeCare Corporation (NASDAQ: ADUS), a provider of home care services, today announced its financial results for the second quarter and six months ended June 30, 2026. Second Quarter 2026 Highlights: Net Service Revenues Increase 8.0% to $377.4 Million Net Income of $27.6 Million, or $1.49 per Diluted Share Adjusted Net Income per Diluted Share Increases 16.1% year-over-year to $1.73 Adjusted EBITDA Increases 11.9% year-over-year to $49.2 Million Cash Flow from Operations of $40.0 Million Overview Net service revenues were $377.4 million for the second quarter of 2026, an 8.0% increase compared with $349.4 million for the second quarter of 2025. Net income was $27.6 million for the second quarter of 2026 compared with $22.1 million for the second quarter of 2025, while net income per diluted share was $1.49 compared with $1.20 for the same period a year ago. Adjusted EBITDA increased 11.9% to $49.2 million for the second quarter of 2026 from $43.9 million for the second quarter of 2025. Adjusted net income was $32.0 million for the second quarter of 2026 compared with $27.3 million for the prior-year period, while adjusted net income per diluted share was $1.73 compared with $1.49 for the second quarter of 2025. Adjusted net income per diluted share for the second quarter of 2026 excludes acquisition expenses of $0.06, stock-based compensation expense of $0.17, and restructure and other non-recurring costs of $0.01. (See the end of press release for a reconciliation of all non-GAAP and GAAP financial measures.) For the first six months of 2026, net service revenues increased 7.8% to $741.0 million from $687.2 million for the prior-year period. Net income was $52.7 million for the first six months of 2026 compared with $43.3 million for the same period in 2025, and net income per diluted share was $2.85 compared with $2.36 per diluted share. Adjusted EBITDA increased 10.9% to $93.7 million for the first six months of 2026 from $84.5 million for the first six months of 2025. Adjusted net income was $62.1 million for the first six months of 2026 compared with $53.3 million for the first six months of 2025, while adjusted net income per diluted share was $3.35 compared with $2.91 for the prior-year period. Commenting on the results, Dirk Allison, Chairman and Chief Executive Officer, said, “We are extremely pleased with the strong financial and operational performance delivered in the second quarter of 2026. Revenues grew by 8.0%, driven by solid organic growth and disciplined execution across our service lines. Our focus on cost management, operational efficiency, and leverage reduction translated into an 11.9% improvement in adjusted EBITDA and a 25.2% increase in net income over the second quarter last year. These results reflect the continued demand for high-quality cost-effective home care services and our ability to drive profitable growth. “Our personal care business experienced continued momentum with a 6.8% organic revenue increase over the second quarter last year and accounted for 78.4% of revenues. This improvement reflects higher volumes, as well as two months of operations from HomeCourt Home Care, which we acquired on May 1, 2026. We also continue to benefit from rate increases implemented in two key states, including a 9.9% increase in Texas late last year and a 3.9% increase in Illinois in January, with our strong value proposition as a cost-effective provider continuing to be recognized by our state partners. “Our hospice care business contributed strong growth with organic revenue up 11.1% over the same period last year and accounted for 17.0% of our revenue for the second quarter. This consistent growth was driven by year-over-year improvements in average daily census and revenue per patient day. Our home health business represented 4.6% of revenue for the second quarter, and we are pleased to see more favorable admission and volume trends. We continue to believe home health provides important complementary capabilities to our personal care and hospice segments, allowing us to continue offering all three levels of care and ensuring more patients in select markets receive the benefit of the full continuum of care,” said Allison. Cash and Liquidity As of June 30, 2026, the Company had cash of $99.6 million and bank debt of $64.3 million, with capacity and availability under its revolving credit facility of $650.0 million and $577.8 million, respectively. Net cash provided by operating activities was $40.0 million for the second quarter of 2026. Allison added, “Our strong performance in the first half of 2026 positions us well moving forward. We generated meaningful operating cash flow and maintained a very strong balance sheet. Our low leverage allows us to invest strategically and continue to pursue targeted acquisitions. We remain disciplined in evaluating both clinical and non-clinical opportunities to enhance market density and geographic reach. By delivering a full continuum of care as we scale, we anticipate acting on meaningful synergies and uncovering further growth opportunities throughout the remainder of 2026. Looking Ahead “We are pleased with the trends in our business through the first half of 2026, as we continue to extend our market reach and meet the growing demand for our home-based care services. We are proud of the important work we are doing, with a proven and scalable operating model that supports a vital need for quality, compassionate care for more patients and families in the preferred home setting. We look forward to the continued addition of size and scale via organic growth and pursuit of acquisition opportunities that can increase density and geographic coverage while strengthening relationships in key markets. Importantly, we have the financial flexibility to actively pursue this growth strategy. "We have a dedicated team of caregivers who support our mission and continue to provide outstanding care across our markets. Together, we remain focused on delivering value to both the communities we serve and our shareholders, and we look forward to the opportunities ahead for Addus in the second half of 2026,” concluded Allison. Non-GAAP Financial Measures The information provided in this release includes adjusted net income, adjusted EBITDA, adjusted net income per diluted share and adjusted net service revenue, which are non-GAAP financial measures. The Company defines adjusted net income as net income before acquisition expense, stock-based compensation expense, restructuring and other non-recurring costs, and the gain or loss on the sale of assets. The Company defines adjusted EBITDA as earnings before net interest expense, taxes, depreciation, amortization, acquisition expense, stock-based compensation expense, restructuring and other non-recurring costs, and the gain or loss on the sale of assets. The Company defines adjusted net income per diluted share as net income per share, adjusted for acquisition expense, stock-based compensation expense, restructuring and other non-recurring costs, and gain or loss on the sale of assets. The Company defines adjusted net service revenues as revenue adjusted for the closure of certain sites. The Company has provided, in the financial statement tables included in this press release, a reconciliation of adjusted net income to net income, a reconciliation of adjusted EBITDA to net income, a reconciliation of adjusted diluted net income per share to net income per share, and a reconciliation of adjusted net service revenues to net service revenues, in each case, the most directly comparable GAAP measure. Management believes that adjusted net income, adjusted EBITDA, adjusted diluted net income per share, and adjusted net service revenues are useful to investors, management and others in evaluating the Company’s operating performance, to provide investors with insight and consistency in the Company’s financial reporting and to present a basis for comparison of the Company’s business operations among periods, and to facilitate comparison with the results of the Company’s peers. Conference Call Addus HomeCare will host a conference call on Tuesday, August 4, 2026, at 9:00 a.m. Eastern Time. Joining the call from the Company will be Dirk Allison, Chairman and CEO, Brian Poff, Executive Vice President and CFO, and Heather Dixon, President and COO. To access the live call, dial (833) 629-0620 (international dial-in number is (412) 317-1805) and ask to join the Addus HomeCare earnings call. A telephonic replay of the conference call will be available through midnight on August 11, 2026, by dialing (855) 669-9658 (international dial-in number is (412) 317-0088) and entering pass code 7054130. A live broadcast of Addus HomeCare’s conference call will be available under the Investor Relations section of the Company’s website: www.addus.com. An online replay will also be available on the Company’s website for one month, beginning approximately two hours following the conclusion of the live broadcast. Forward-Looking StatementsRead the full story here

Addus HomeCare Announces Second Quarter 2026 Financial Results

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