Chemed Issues Earnings Guidance

(RTTNews) - Chemed Corp. (CHE) announced, full-year 2016 adjusted earnings per share, excluding non-cash expense for stock options, costs related to litigation, and other discrete items, is estimated to be in the range of $7.20 to $7.30. Analysts polled by Thomson Reuters expect the company to report profit per share of $7.25. Analysts' estimates typically exclude special items.

Including the impact of the change in Medicare hospice reimbursement, full-year 2016 revenue growth for VITAS, prior to Medicare Cap, is estimated to be in the range of 1.0% to 2.0%.

Third-quarter adjusted EPS decreased 2.8% to $1.73. Revenue increased 1.7% to $393 million. Net revenue for VITAS was $283 million in the third quarter of 2016, which is a decrease of 0.8%, when compared to the prior-year period.