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CONTACT:  Michael D. Witzeman

(513) 762-6714



Chemed Reports Second-Quarter 2026 Results



Full-Year Guidance Increased Due Mainly to VITAS Outperformance





CINCINNATI, July 28, 2026—Chemed Corporation (Chemed) (NYSE: CHE), which operates VITAS Healthcare Corporation (VITAS),  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 second quarter ended June 30, 2026, versus the comparable prior-year period.



Results for Quarter Ended June 30, 2026



Consolidated operating results:

·

Revenue increased 8.8% to $673.3 million

·

GAAP Diluted Earnings-per-Share (EPS) of $5.13, an increase of 43.7%

·

Adjusted Diluted EPS of $6.06, an increase of 41.9%



VITAS segment operating results:

·

Net Patient Revenue of $443.3 million, an increase of 11.9%

·

Average Daily Census (ADC) of 23,687, an increase of 6.1%

·

Admissions of 19,125, an increase of 9.0%

·

Net Income, excluding certain discrete items, of $61.3 million, an increase of 60.5%

·

Adjusted EBITDA, excluding Medicare Cap, of $80.6 million, an increase of 20.6%

·

Adjusted EBITDA margin, excluding Medicare Cap, of 18.2%, an increase of 196-basis points



Roto-Rooter segment operating results:

·

Revenue of $229.9 million, an increase of 3.3%

·

Net Income, excluding certain discrete items, of $33.8 million, essentially flat

·

Adjusted EBITDA of $48.5 million, essentially flat

·

Adjusted EBITDA margin of 21.1%, a decline of 77-basis points










 



VITAS



VITAS net revenue was $443.3 million in the second quarter of 2026, which is an increase of 11.9% when compared to the prior-year period. This revenue increase is comprised primarily of a 6.1% increase in days-of-care and a geographically weighted average Medicare reimbursement rate increase of approximately 2.4%. Acuity mix shift negatively impacted revenue growth 115-basis points in the quarter when compared to the prior-year period’s revenue and level-of-care mix.  The combination of Medicare Cap and other contra revenue changes positively impacted revenue growth by 455-basis points.

 

Total VITAS admissions increased 9.0% in the second quarter of 2026 compared to the second quarter of 2025.



In the second quarter of 2026, VITAS accrued $500,000 in Medicare Cap billing limitation.  This compares to the Medicare Cap billing limitation recorded in the second quarter of 2025 of $16.4 million.  No Medicare Cap billing limitation was recorded in the second quarter of 2026 for the Florida combined program, and none is anticipated for the 2026 fiscal period. 



Of VITAS’ 33 Medicare provider numbers, 22 provider numbers have an anticipated full-year Medicare Cap cushion of 10% or greater, seven provider numbers have a cushion between 0% and 10%, and four provider numbers have a Medicare Cap billing limitation totaling $7.0 million.



Average revenue per patient per day in the second quarter of 2026 was $209.98 which is 143-basis points above the prior-year period. Reimbursement for routine home care and high-acuity care averaged $188.62 and $1,152.14, respectively. During the quarter, high-acuity days-of-care were 2.2% of total days of care, a decline of 24-basis points when compared to the prior-year quarter.



The second quarter 2026 gross margin, excluding Medicare Cap, was 23.9%, a 164-basis point increase from the same period of 2025. Selling, general and administrative expenses were $26.1 million in the second quarter of 2026 compared to $25.1 million in the prior- year quarter.



Adjusted EBITDA, excluding Medicare Cap, totaled $80.6 million in the quarter, an increase of 20.6% when compared to the prior-year period. Adjusted EBITDA margin in the quarter, excluding Medicare Cap, was 18.2%.



Roto-Rooter



Roto-Rooter generated quarterly revenue of $229.9 million in the second quarter of 2026, an increase of 3.3%, when compared to the prior-year quarter.



Roto-Rooter branch commercial revenue in the quarter totaled $56.8 million, an increase of 6.8% from the prior-year period. This aggregate commercial revenue change consisted of plumbing increasing 11.9%, drain cleaning increasing 6.9%, water restoration increasing 3.7% and excavation increasing 2.3%. 




 

Roto-Rooter branch residential revenue in the quarter totaled $159.1 million, an increase of 1.7%, over the prior-year period. This aggregate residential revenue change consisted of excavation increasing 11.1%, plumbing increasing 3.3%, and drain cleaning increasing 1.3%, offset by a decline in water restoration of 6.7%. 



In the second quarter of 2026, revenue from independent contractors was $17.1 million which is a decline of 1.9% as compared to the same period of 2025.



Roto-Rooter’s second quarter 2026 gross margin was 50.4%. This compares to the prior-year quarter’s gross margin of 49.0%. Roto-Rooter’s selling, general and administrative expenses were $67.4 million in the quarter, which is an increase of 11.3% compared to the second quarter of 2025.



Adjusted EBITDA in the second quarter of 2026 totaled $48.5 million, essentially flat when compared to the second quarter of 2025. The Adjusted EBITDA margin in the quarter was 21.1% which represents a 77-basis point decline from the second quarter of 2025.



Chemed Consolidated



As of June 30, 2026, Chemed had total cash and cash equivalents of $40.2 million and $140.0 million in long-term debt.



In April 2026, Chemed entered into a new five-year $450 million Amended and Restated Credit Agreement (Credit Agreement). This Credit Agreement consists of a $450 million revolving line of credit and a $250 million expansion feature.  The interest rate on this Credit Agreement has a floating rate that is currently SOFR plus 100-basis points. There is approximately $262.7 million undrawn borrowing capacity under the Credit Agreement after excluding $47.3 million for Letters of Credit.



During the quarter, the Company repurchased 210,000 shares of Chemed stock for $89.8 million which equates to a cost per share of $427.81. Over the trailing 12-months, the Company has repurchased 1,517,500 shares of Chemed stock at an average price of $423.63 per share.  This equates to a reduction in outstanding Chemed shares of approximately 10.5% over that period.  As of June 30, 2026, there was approximately $139.8 million of remaining share repurchase authorization under its plan.



Guidance Update



Although, historically, we do not give quarterly updates, our guidance was revised in conjunction with the first quarter 2026 earnings release due to the materially improved performance of VITAS, coupled with the level of share repurchases. We have updated the guidance again mainly to continue our normal, historical cadence of updating expectations at the mid-year earnings release.  Barring any unusual developments, updating guidance once per year in conjunction with our second quarter press release is our on-going expectation.  Further operational detail will be provided during the investor conference call.




 

VITAS’ initiatives to return to a normal growth pattern after managing the 2025 Medicare Cap issue progressed more quickly than originally anticipated and continue to provide higher than expected growth in the business. The following shows the updated key guidance metrics compared to the guidance metrics provided in the first quarter 2026 earnings release:



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Roto-Rooter performed in-line with our expectations and therefore, full year guidance for the segment remains unchanged.  Full year anticipated revenue growth is 3.0% to 3.5%.  Estimated adjusted EBITDA margin is 21.5% to 22.5%. 



Based on the above, full-year 2026 earnings per diluted share, excluding non-cash expenses for stock options, tax benefits from stock option exercises, costs related to litigation and other discrete items, are estimated to be in the range of $25.00 to $25.75.  This compares to the guidance given in conjunction with the first quarter of 2026 press release of $24.00 to $24.75 per diluted share.  The mid-point of the revised guidance represents a 17.8% increase from 2025 adjusted earnings per diluted share of $21.55.  The revised guidance assumes an effective corporate tax rate on adjusted earnings of 24.5% and a diluted share count of 13.5 million shares. 



Conference Call



As previously disclosed, Chemed will host a conference call and webcast at 10 a.m., ET, on Wednesday July 29, 2026, 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/u8u2qjst.



Participants may also register via teleconference at:

https://register-conf.media-server.com/register/BI55b09312fbd04f76b526dfcc5f7e174e.



Once registration is completed, participants will be provided with a dial-in number containing a personalized conference code to access the call. All participants are instructed to dial-in 15 minutes prior to the start time.



A  taped replay of the conference call will be available beginning approximately two hours after the call's conclusion. You may access the replay via webcast through the investor relations section of Chemed’s website.


 



Chemed operates in the healthcare field through its VITAS Healthcare Corporation subsidiary. VITAS provides daily hospice services to patients with severe, life-limiting illnesses. This type of care is focused on making the terminally ill patient's final days as comfortable and pain-free as possible.



Chemed operates in the residential and commercial plumbing and drain cleaning industry under the brand name Roto-Rooter. Roto-Rooter provides plumbing, drain cleaning, and water cleanup services through company-owned branches, independent contractors and franchisees in the United States and Canada. Roto-Rooter also has licensed master franchisees in the republics of Indonesia and Singapore, and the Philippines.



 

This press release contains information about Chemed’s EBITDA, Adjusted EBITDA, and Adjusted Diluted EPS, which are not measures derived in accordance with GAAP and which exclude components that are important to understanding Chemed’s financial performance. In reporting its operating results, Chemed provides EBITDA, Adjusted EBITDA and Adjusted Diluted EPS measures to help investors and others evaluate the Company’s operating results, compare its operating performance with that of similar companies that have different capital structures and evaluate its ability to meet its future debt service, capital expenditures and working capital requirements. Chemed’s management similarly uses EBITDA, Adjusted EBITDA, and Adjusted Diluted EPS to assist it in evaluating the performance of the Company across fiscal periods and in assessing how its performance compares to its peer companies. These measures also help Chemed’s management to estimate the resources required to meet Chemed’s future financial obligations and expenditures. Chemed’s EBITDA, Adjusted EBITDA and Adjusted Diluted EPS should not be considered in isolation or as a substitute for comparable measures calculated and presented in accordance with GAAP. We calculated Adjusted EBITDA Margin by dividing Adjusted EBITDA by service revenue and sales. A reconciliation of Chemed’s net income to its EBITDA, Adjusted EBITDA and Adjusted Diluted EPS is presented in the tables following the text of this press release.



SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 REGARDING FORWARD-LOOKING INFORMATION

Statements in this press release contain forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods and are based upon assumptions subject to certain known and unknown risks, uncertainties, contingencies and other factors, including, but not limited to, the impact of laws and regulations on Chemed’s operations, including Medicare Cap and Medicare reimbursement rates, Chemed’s estimates of the effect of Medicare Cap on VITAS’ revenues and future prospects, Chemed’s expectations regarding VITAS’ patient mix and Chemed’s expectations regarding demand for Roto-Rooter’s services.



Because forward looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Chemed’s control. Chemed’s actual results and financial condition may differ materially from those


 

indicated in the forward-looking statements included in this press release, including as a result of the risks described above and those described in the Chemed’s Annual Report on Form 10-K for the year ended December 31, 2025 and in its Quarterly Reports filed in 2026. Any forward-looking statement made by Chemed in this press release is based only on information currently available to Chemed and speaks only as of the date on which it is made. Chemed undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.












 









 

 

 

 

 

 

 

 

 

 

 

 

CHEMED CORPORATION AND SUBSIDIARY COMPANIES

CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share data)(unaudited)



 

 

 

 

 

 

 

 

 

 

 

 



 

Three Months Ended June 30,

 

Six Months Ended June 30,



 

2026

 

2025

 

2026

 

2025

Service revenues and sales

 

$

673,251 

 

$

618,798 

 

$

1,330,764 

 

 

1,265,741 

Cost of services provided and goods sold

 

 

451,780 

 

 

434,105 

 

 

893,529 

 

 

864,635 

Selling, general and administrative expenses (aa)

 

 

115,203 

 

 

100,323 

 

 

229,524 

 

 

205,910 

Depreciation

 

 

14,267 

 

 

13,689 

 

 

28,570 

 

 

27,134 

Amortization

 

 

2,719 

 

 

2,571 

 

 

5,289 

 

 

5,143 

Other operating expense

 

 

78 

 

 

26 

 

 

70 

 

 

77 

Total costs and expenses

 

 

584,047 

 

 

550,714 

 

 

1,156,982 

 

 

1,102,899 

Income from operations

 

 

89,204 

 

 

68,084 

 

 

173,782 

 

 

162,842 

Interest expense

 

 

(1,789)

 

 

(443)

 

 

(2,301)

 

 

(772)

Other income--net (bb)

 

 

3,914 

 

 

3,474 

 

 

8,688 

 

 

4,719 

Income before income taxes

 

 

91,329 

 

 

71,115 

 

 

180,169 

 

 

166,789 

Income taxes

 

 

(23,626)

 

 

(18,622)

 

 

(46,164)

 

 

(42,539)

Net income

 

$

67,703 

 

$

52,493 

 

$

134,005 

 

$

124,250 

Earnings Per Share

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

5.14 

 

$

3.60 

 

$

9.98 

 

$

8.51 

Average number of shares outstanding

 

 

13,174 

 

 

14,591 

 

 

13,423 

 

 

14,606 

Diluted Earnings Per Share

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

5.13 

 

$

3.57 

 

$

9.97 

 

$

8.43 

Average number of shares outstanding

 

 

13,199 

 

 

14,703 

 

 

13,442 

 

 

14,733 



 

 

 

 

 

 

 

 

 

 

 

 

(aa)    Selling, general and administrative ("SG&A") expenses comprise (in thousands):



 

 

 

 

 

 

 

 

 

 

 

 



 

Three Months Ended June 30,

 

Six Months Ended June 30,



 

2026

 

2025

 

2026

 

2025

SG&A expenses before long-term incentive compensation

 

 

 

 

 

 

 

 

 

 

 

 

and the impact of market value adjustments related to

 

 

 

 

 

 

 

 

 

 

 

 

deferred compensation plans

 

$

109,256 

 

$

98,552 

 

$

218,187 

 

$

202,312 

Market value adjustments related to deferred

 

 

 

 

 

 

 

 

 

 

 

 

compensation trusts

 

 

3,699 

 

 

918 

 

 

7,584 

 

 

88 

Long-term incentive compensation

 

 

2,248 

 

 

853 

 

 

3,753 

 

 

3,510 

Total SG&A expenses

 

$

115,203 

 

$

100,323 

 

$

229,524 

 

$

205,910 



 

 

 

 

 

 

 

 

 

 

 

 

(bb)    Other income--net comprises (in thousands):

 

 

 

 

 

 



 

Three Months Ended June 30,

 

Six Months Ended June 30,



 

2026

 

2025

 

2026

 

2025



 

 

 

 

 

 

 

 

 

 

 

 

Market value adjustments related to deferred

 

 

 

 

 

 

 

 

 

 

 

 

compensation trusts

 

$

3,699 

 

$

918 

 

$

7,584 

 

$

88 

Interest income

 

 

214 

 

 

2,555 

 

 

1,104 

 

 

4,631 

Other

 

 

 

 

 

 

 -

 

 

 -

Total other income--net

 

$

3,914 

 

$

3,474 

 

$

8,688 

 

$

4,719 




 





 

 

 

 

 

 

CHEMED CORPORATION AND SUBSIDIARY COMPANIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except per share data)(unaudited)



 

 

 

 

 

 



 

June 30,



 

2026

 

2025

Assets

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

40,222 

 

$

249,904 

Accounts receivable less allowances

 

 

188,634 

 

 

184,880 

Inventories

 

 

7,630 

 

 

9,148 

Prepaid income taxes

 

 

17,646 

 

 

14,239 

Prepaid expenses

 

 

37,103 

 

 

33,206 

Total current assets

 

 

291,235 

 

 

491,377 

Investments of deferred compensation plans held in trust

 

 

148,153 

 

 

129,560 

Properties and equipment, at cost less accumulated depreciation

 

 

208,499 

 

 

202,281 

Lease right of use asset

 

 

142,535 

 

 

131,948 

Identifiable intangible assets less accumulated amortization

 

 

78,601 

 

 

87,360 

Goodwill

 

 

699,398 

 

 

666,996 

Other assets

 

 

11,164 

 

 

8,325 

Total Assets

 

$

1,579,585 

 

$

1,717,847 

Liabilities

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

Accounts payable

 

$

84,713 

 

$

50,864 

Accrued insurance

 

 

72,455 

 

 

66,888 

Accrued compensation

 

 

63,794 

 

 

54,688 

Short-term lease liability

 

 

41,277 

 

 

43,700 

Other current liabilities

 

 

57,607 

 

 

47,746 

Total current liabilities

 

 

319,846 

 

 

263,886 

Deferred income taxes

 

 

15,050 

 

 

12,703 

Deferred compensation liabilities

 

 

146,986 

 

 

127,699 

Long-term debt

 

 

140,000 

 

 

 -

Long-term lease liability

 

 

113,516 

 

 

101,861 

Other liabilities

 

 

13,677 

 

 

13,213 

Total Liabilities

 

 

749,075 

 

 

519,362 

Stockholders' Equity

 

 

 

 

 

 

Capital stock

 

 

37,613 

 

 

37,593 

Paid-in capital

 

 

1,617,125 

 

 

1,576,165 

Retained earnings

 

 

3,073,331 

 

 

2,831,540 

Treasury stock, at cost

 

 

(3,900,000)

 

 

(3,249,115)

Deferred compensation payable in Company stock

 

 

2,441 

 

 

2,302 

Total Stockholders' Equity

 

 

830,510 

 

 

1,198,485 

Total Liabilities and Stockholders' Equity

 

$

1,579,585 

 

$

1,717,847 




 









 

 

 

 

 

 

CHEMED CORPORATION AND SUBSIDIARY COMPANIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)(unaudited)



 

 

 

 

 

 



 

For the Six Months Ended June 30,



 

2026

 

2025

Cash Flows from Operating Activities

 

 

 

 

 

 

Net income

 

$

134,005 

 

$

124,250 

Adjustments to reconcile net income to net cash provided

 

 

 

 

 

 

by operating activities:

 

 

 

 

 

 

Depreciation and amortization

 

 

33,859 

 

 

32,277 

Stock option expense

 

 

18,302 

 

 

18,307 

Benefit for deferred income taxes

 

 

(4,262)

 

 

(13,243)

Noncash long-term incentive compensation

 

 

3,633 

 

 

3,273 

Noncash directors' compensation

 

 

1,191 

 

 

1,123 

Legal settlements

 

 

548 

 

 

 -

Amortization of debt issuance costs

 

 

163 

 

 

160 

Changes in operating assets and liabilities, excluding

 

 

 

 

 

 

amounts acquired in business combinations:

 

 

 

 

 

 

Increase in accounts receivable

 

 

(6,716)

 

 

(13,466)

Increase in inventories

 

 

(87)

 

 

(955)

Increase in prepaid expenses

 

 

(10,285)

 

 

(7,232)

Increase/(decrease) in accounts payable and

 

 

 

 

 

 

other current liabilities

 

 

9,174 

 

 

(12,449)

Change in current income taxes

 

 

(8,985)

 

 

(10,764)

Net change in lease assets and liabilities

 

 

292 

 

 

(72)

(Increase)/decrease in other assets

 

 

(9,489)

 

 

48,426 

Increase in other liabilities

 

 

11,191 

 

 

1,521 

Other sources

 

 

498 

 

 

194 

Net cash provided by operating activities

 

 

173,032 

 

 

171,350 

Cash Flows from Investing Activities

 

 

 

 

 

 

Business combinations, net of cash acquired

 

 

(33,540)

 

 

(225)

Capital expenditures

 

   

(32,639)

 

   

(29,088)

Proceeds from sale of fixed assets

 

 

422 

 

 

480 

Other uses

 

 

(270)

 

 

(322)

Net cash used by investing activities

 

 

(66,027)

 

 

(29,155)

Cash Flows from Financing Activities

 

 

 

 

 

 

Proceeds from revolving line of credit

 

 

491,480 

 

 

 -

Payments on revolving line of credit

 

 

(351,480)

 

 

 -

Purchases of treasury stock

 

 

(287,521)

 

 

(76,168)

Change in cash overdrafts payable

 

 

23,305 

 

 

309 

Dividends paid

 

 

(16,049)

 

 

(14,542)

Proceeds from exercise of stock options

 

 

2,731 

 

 

27,152 

Capital stock surrendered to pay taxes on stock-based compensation

 

 

(1,482)

 

 

(8,484)

Debt issuance costs

 

 

(1,349)

 

 

 -

Other (uses)/sources

 

 

(933)

 

 

1,092 

Net cash used by financing activities

 

 

(141,298)

 

 

(70,641)

(Decrease)/increase in Cash and Cash Equivalents

 

 

(34,293)

 

 

71,554 

Cash and cash equivalents at beginning of year

 

 

74,515 

 

 

178,350 

Cash and cash equivalents at end of period

 

$

40,222 

 

$

249,904 










 





 

 

 

 

 

 

 

 

 

 

 

 

CHEMED CORPORATION AND SUBSIDIARY COMPANIES

CONSOLIDATING STATEMENTS OF INCOME

FOR THE THREE MONTHS ENDED JUNE 30, 2026 AND 2025

(in thousands)(unaudited)



 

 

 

 

 

 

 

Chemed



 

VITAS

 

Roto-Rooter

 

Corporate

 

Consolidated

2026 (a)

 

 

 

 

 

 

 

 

 

 

 

 

Service revenues and sales

 

$

443,341 

 

$

229,910 

 

$

 -

 

$

673,251 

Cost of services provided and goods sold

 

 

337,691 

 

 

114,089 

 

 

 -

 

 

451,780 

Selling, general and administrative expenses

 

 

26,105 

 

 

67,373 

 

 

21,725 

 

 

115,203 

Depreciation

 

 

5,781 

 

 

8,474 

 

 

12 

 

 

14,267 

Amortization

 

 

27 

 

 

2,692 

 

 

 -

 

 

2,719 

Other operating expense

 

 

28 

 

 

50 

 

 

 -

 

 

78 

Total costs and expenses

 

 

369,632 

 

 

192,678 

 

 

21,737 

 

 

584,047 

Income/(loss) from operations

 

 

73,709 

 

 

37,232 

 

 

(21,737)

 

 

89,204 

Interest expense

 

 

(54)

 

 

(185)

 

 

(1,550)

 

 

(1,789)

Intercompany interest income/(expense)

 

 

6,480 

 

 

4,575 

 

 

(11,055)

 

 

 -

Other income—net

 

 

66 

 

 

10 

 

 

3,838 

 

 

3,914 

Income/(loss) before income taxes

 

 

80,201 

 

 

41,632 

 

 

(30,504)

 

 

91,329 

Income taxes

 

 

(19,290)

 

 

(9,719)

 

 

5,383 

 

 

(23,626)

Net income/(loss)

 

$

60,911 

 

$

31,913 

 

$

(25,121)

 

$

67,703 



 

 

 

 

 

 

 

 

 

 

 

 

2025 (b)

 

 

 

 

 

 

 

 

 

 

 

 

Service revenues and sales

 

$

396,201 

 

$

222,597 

 

$

 -

 

$

618,798 

Cost of services provided and goods sold

 

 

320,644 

 

 

113,461 

 

 

 -

 

 

434,105 

Selling, general and administrative expenses

 

 

25,085 

 

 

60,536 

 

 

14,702 

 

 

100,323 

Depreciation

 

 

5,314 

 

 

8,363 

 

 

12 

 

 

13,689 

Amortization

 

 

26 

 

 

2,545 

 

 

 -

 

 

2,571 

Other operating expense/(income)

 

 

55 

 

 

(29)

 

 

 -

 

 

26 

Total costs and expenses

 

 

351,124 

 

 

184,876 

 

 

14,714 

 

 

550,714 

Income/(loss) from operations

 

 

45,077 

 

 

37,721 

 

 

(14,714)

 

 

68,084 

Interest expense

 

 

(47)

 

 

(129)

 

 

(267)

 

 

(443)

Intercompany interest income/(expense)

 

 

5,454 

 

 

3,970 

 

 

(9,424)

 

 

 -

Other income—net

 

 

61 

 

 

23 

 

 

3,390 

 

 

3,474 

Income/(loss) before income taxes

 

 

50,545 

 

 

41,585 

 

 

(21,015)

 

 

71,115 

Income taxes

 

 

(12,326)

 

 

(9,671)

 

 

3,375 

 

 

(18,622)

Net income/(loss)

 

$

38,219 

 

$

31,914 

 

$

(17,640)

 

$

52,493 



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

The "Footnotes to Financial Statements" are integral parts of this financial information.










 



 

 

 

 

 

 

 

 

 

 

 

 





 

 

 

 

 

 

 

 

 

 

 

 

CHEMED CORPORATION AND SUBSIDIARY COMPANIES

CONSOLIDATING STATEMENTS OF INCOME

FOR THE SIX MONTHS ENDED JUNE 30, 2026 AND 2025

(in thousands)(unaudited)



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

Chemed



 

VITAS

 

Roto-Rooter

 

Corporate

 

Consolidated

2026 (a)

 

 

 

 

 

 

 

 

 

 

 

 

Service revenues and sales

 

$

863,358 

 

$

467,406 

 

$

 -

 

$

1,330,764 

Cost of services provided and goods sold

 

 

663,157 

 

 

230,372 

 

 

 -

 

 

893,529 

Selling, general and administrative expenses

 

 

52,213 

 

 

135,302 

 

 

42,009 

 

 

229,524 

Depreciation

 

 

11,693 

 

 

16,853 

 

 

24 

 

 

28,570 

Amortization

 

 

53 

 

 

5,236 

 

 

 -

 

 

5,289 

Other operating expense/(income)

 

 

80 

 

 

(9)

 

 

(1)

 

 

70 

Total costs and expenses

 

 

727,196 

 

 

387,754 

 

 

42,032 

 

 

1,156,982 

Income/(loss) from operations

 

 

136,162 

 

 

79,652 

 

 

(42,032)

 

 

173,782 

Interest expense

 

 

(104)

 

 

(321)

 

 

(1,876)

 

 

(2,301)

Intercompany interest income/(expense)

 

 

12,717 

 

 

9,088 

 

 

(21,805)

 

 

 -

Other income—net

 

 

161 

 

 

25 

 

 

8,502 

 

 

8,688 

Income/(loss) before income taxes

 

 

148,936 

 

 

88,444 

 

 

(57,211)

 

 

180,169 

Income taxes

 

 

(35,818)

 

 

(20,747)

 

 

10,401 

 

 

(46,164)

Net income/(loss)

 

$

113,118 

 

$

67,697 

 

$

(46,810)

 

$

134,005 



 

 

 

 

 

 

 

 

 

 

 

 

2025 (b)

 

 

 

 

 

 

 

 

 

 

 

 

Service revenues and sales

 

$

803,600 

 

$

462,141 

 

$

 -

 

$

1,265,741 

Cost of services provided and goods sold

 

 

633,451 

 

 

231,184 

 

 

 -

 

 

864,635 

Selling, general and administrative expenses

 

 

51,624 

 

 

123,184 

 

 

31,102 

 

 

205,910 

Depreciation

 

 

10,509 

 

 

16,601 

 

 

24 

 

 

27,134 

Amortization

 

 

52 

 

 

5,091 

 

 

 -

 

 

5,143 

Other operating expense/(income)

 

 

119 

 

 

(42)

 

 

 -

 

 

77 

Total costs and expenses

 

 

695,755 

 

 

376,018 

 

 

31,126 

 

 

1,102,899 

Income/(loss) from operations

 

 

107,845 

 

 

86,123 

 

 

(31,126)

 

 

162,842 

Interest expense

 

 

(95)

 

 

(261)

 

 

(416)

 

 

(772)

Intercompany interest income/(expense)

 

 

10,750 

 

 

7,900 

 

 

(18,650)

 

 

 -

Other income—net

 

 

110 

 

 

32 

 

 

4,577 

 

 

4,719 

Income/(loss) before income taxes

 

 

118,610 

 

 

93,794 

 

 

(45,615)

 

 

166,789 

Income taxes

 

 

(30,361)

 

 

(21,936)

 

 

9,758 

 

 

(42,539)

Net income/(loss)

 

$

88,249 

 

$

71,858 

 

$

(35,857)

 

$

124,250 



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

The "Footnotes to Financial Statements" are integral parts of this financial information.




 







 

 

 

 

 

 

 

 

 

 

 

 

CHEMED CORPORATION AND SUBSIDIARY COMPANIES

CONSOLIDATING SUMMARIES OF EBITDA

FOR THREE MONTHS ENDED JUNE 30, 2026 AND 2025

(in thousands)(unaudited)



 

 

 

 

 

 

 

Chemed



 

VITAS

 

Roto-Rooter

 

Corporate

 

Consolidated

2026

 

 

 

 

 

 

 

 

 

 

 

 

Net income/(loss)

 

$

60,911 

 

$

31,913 

 

$

(25,121)

 

$

67,703 

Add/(deduct):

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

54 

 

 

185 

 

 

1,550 

 

 

1,789 

Income taxes

 

 

19,290 

 

 

9,719 

 

 

(5,383)

 

 

23,626 

Depreciation

 

 

5,781 

 

 

8,474 

 

 

12 

 

 

14,267 

Amortization

 

 

27 

 

 

2,692 

 

 

 -

 

 

2,719 

EBITDA

 

 

86,063 

 

 

52,983 

 

 

(28,942)

 

 

110,104 

Add/(deduct):

 

 

 

 

 

 

 

 

 

 

 

 

Intercompany interest expense/(income)

 

 

(6,480)

 

 

(4,575)

 

 

11,055 

 

 

 -

Interest income

 

 

(66)

 

 

(10)

 

 

(138)

 

 

(214)

Stock option expense

 

 

 -

 

 

 -

 

 

9,052 

 

 

9,052 

Long-term incentive compensation

 

 

 -

 

 

 -

 

 

2,248 

 

 

2,248 

Legal settlements

 

 

548 

 

 

 -

 

 

 -

 

 

548 

Acquisition expense

 

 

 

 

60 

 

 

 -

 

 

68 

Adjusted EBITDA

 

$

80,073 

 

$

48,458 

 

$

(6,725)

 

$

121,806 



 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

 

 

 

 

 

 

 

 

 

Net income/(loss)

 

$

38,219 

 

$

31,914 

 

$

(17,640)

 

$

52,493 

Add/(deduct):

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

47 

 

 

129 

 

 

267 

 

 

443 

Income taxes

 

 

12,326 

 

 

9,671 

 

 

(3,375)

 

 

18,622 

Depreciation

 

 

5,314 

 

 

8,363 

 

 

12 

 

 

13,689 

Amortization

 

 

26 

 

 

2,545 

 

 

 -

 

 

2,571 

EBITDA

 

 

55,932 

 

 

52,622 

 

 

(20,736)

 

 

87,818 

Add/(deduct):

 

 

 

 

 

 

 

 

 

 

 

 

Intercompany interest expense/(income)

 

 

(5,454)

 

 

(3,970)

 

 

9,424 

 

 

 -

Interest income

 

 

(61)

 

 

(23)

 

 

(2,472)

 

 

(2,556)

Stock option expense

 

 

 -

 

 

 -

 

 

9,216 

 

 

9,216 

Long-term incentive compensation

 

 

 -

 

 

 -

 

 

853 

 

 

853 

Adjusted EBITDA

 

$

50,417 

 

$

48,629 

 

$

(3,715)

 

$

95,331 



 

 

 

 

 

 

 

 

 

 

 

 

The "Footnotes to Financial Statements" are integral parts of this financial information.














 





 

 

 

 

 

 

 

 

 

 

 

 

CHEMED CORPORATION AND SUBSIDIARY COMPANIES

CONSOLIDATING SUMMARIES OF EBITDA

FOR THE SIX MONTHS ENDED JUNE 30, 2026 AND 2025

(in thousands)(unaudited)



 

 

 

 

 

 

 

 

 

 

Chemed



 

VITAS

 

Roto-Rooter

 

Corporate

 

Consolidated

2026

 

 

 

 

 

 

 

 

 

 

 

 

Net income/(loss)

 

$

113,118 

 

$

67,697 

 

$

(46,810)

 

$

134,005 

Add/(deduct):

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

104 

 

 

321 

 

 

1,876 

 

 

2,301 

Income taxes

 

 

35,818 

 

 

20,747 

 

 

(10,401)

 

 

46,164 

Depreciation

 

 

11,693 

 

 

16,853 

 

 

24 

 

 

28,570 

Amortization

 

 

53 

 

 

5,236 

 

 

 -

 

 

5,289 

EBITDA

 

 

160,786 

 

 

110,854 

 

 

(55,311)

 

 

216,329 

Add/(deduct):

 

 

 

 

 

 

 

 

 

 

 

 

Intercompany interest expense/(income)

 

 

(12,717)

 

 

(9,088)

 

 

21,805 

 

 

 -

Interest income

 

 

(162)

 

 

(25)

 

 

(917)

 

 

(1,104)

Stock option expense

 

 

 -

 

 

 -

 

 

18,302 

 

 

18,302 

Long-term incentive compensation

 

 

 -

 

 

 -

 

 

3,753 

 

 

3,753 

Legal settlements

 

 

548 

 

 

 -

 

 

 -

 

 

548 

Acquisition expense

 

 

 

 

226 

 

 

 -

 

 

234 

Adjusted EBITDA

 

$

148,463 

 

$

101,967 

 

$

(12,368)

 

$

238,062 

2025

 

 

 

 

 

 

 

 

 

 

 

 

Net income/(loss)

 

$

88,249 

 

$

71,858 

 

$

(35,857)

 

$

124,250 

Add/(deduct):

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

95 

 

 

261 

 

 

416 

 

 

772 

Income taxes

 

 

30,361 

 

 

21,936 

 

 

(9,758)

 

 

42,539 

Depreciation

 

 

10,509 

 

 

16,601 

 

 

24 

 

 

27,134 

Amortization

 

 

52 

 

 

5,091 

 

 

 -

 

 

5,143 

EBITDA

 

 

129,266 

 

 

115,747 

 

 

(45,175)

 

 

199,838 

Add/(deduct):

 

 

 

 

 

 

 

 

 

 

 

 

Intercompany interest expense/(income)

 

 

(10,750)

 

 

(7,900)

 

 

18,650 

 

 

 -

Interest income

 

 

(110)

 

 

(33)

 

 

(4,489)

 

 

(4,632)

Stock option expense

 

 

 -

 

 

 -

 

 

18,307 

 

 

18,307 

Long-term incentive compensation

 

 

 -

 

 

 -

 

 

3,510 

 

 

3,510 

Adjusted EBITDA

 

$

118,406 

 

$

107,814 

 

$

(9,197)

 

$

217,023 



 

 

 

 

 

 

 

 

 

 

 

 

The "Footnotes to Financial Statements" are integral parts of this financial information.









 

 



 

 

 

 









 

 

 

 

 

 

 

 

 

 

 

 


 

CHEMED CORPORATION AND SUBSIDIARY COMPANIES

RECONCILIATION OF ADJUSTED NET INCOME

(in thousands, except per share data)(unaudited)



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 



 

Three Months Ended June 30,

 

Six Months Ended June 30,



 

2026

 

2025

 

2026

 

2025

Net income as reported

 

$

67,703 

 

$

52,493 

 

$

134,005 

 

$

124,250 

Add/(deduct) pre-tax cost of:

 

 

 

 

 

 

 

 

 

 

 

 

Stock option expense

 

 

9,052 

 

 

9,216 

 

 

18,302 

 

 

18,307 

Amortization of reacquired franchise rights

 

 

2,352 

 

 

2,352 

 

 

4,704 

 

 

4,704 

Long-term incentive compensation

 

 

2,248 

 

 

853 

 

 

3,753 

 

 

3,510 

Legal settlements

 

 

548 

 

 

 -

 

 

548 

 

 

 -

Acquisition expense

 

 

68 

 

 

 -

 

 

234 

 

 

 -

Add/(deduct) tax impacts:

 

 

 

 

 

 

 

 

 

 

 

 

Tax impact of the above pre-tax adjustments (1)

 

 

(2,377)

 

 

(2,143)

 

 

(4,626)

 

 

(4,462)

Excess tax expenses/(benefits) on stock compensation

 

 

445 

 

 

(50)

 

 

501 

 

 

(513)

Adjusted net income

 

$

80,039 

 

$

62,721 

 

$

157,421 

 

$

145,796 



 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Share As Reported

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

5.13 

 

$

3.57 

 

$

9.97 

 

$

8.43 

Average number of shares outstanding

 

 

13,199 

 

 

14,703 

 

 

13,442 

 

 

14,733 



 

 

 

 

 

 

 

 

 

 

 

 

Adjusted Diluted Earnings Per Share

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted net income

 

$

6.06 

 

$

4.27 

 

$

11.71 

 

$

9.90 

Average number of shares outstanding

 

 

13,199 

 

 

14,703 

 

 

13,442 

 

 

14,733 



 

 

 

 

 

 

 

 

 

 

 

 

(1) The tax impact of pre-tax adjustments was calculated using the effective tax rate of the operating unit for which each adjustment is associated.



 

 

 

 

 

 

 

 

 

 

 

 

The "Footnotes to Financial Statements" are integral parts of this financial information.




 





 

 

 

 

 

 

 

 

 

 

 

 

 

CHEMED CORPORATION AND SUBSIDIARY COMPANIES

OPERATING STATISTICS FOR VITAS SEGMENT

(unaudited)



Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

OPERATING STATISTICS

2026

 

2025

 

 

2026

 

2025

 

Net revenue ($000) (c)

 

 

 

 

 

 

 

 

 

 

 

 

 

Homecare

$

391,348 

 

$

358,042 

 

 

$

762,438 

 

$

709,608 

 

Inpatient

 

35,673 

 

 

33,023 

 

 

 

71,599 

 

 

67,045 

 

Continuous care

 

19,396 

 

 

23,640 

 

 

 

37,530 

 

 

48,276 

 

Other

 

6,206 

 

 

5,747 

 

 

 

11,783 

 

 

11,092 

 

Subtotal

$

452,623 

 

$

420,452 

 

 

$

883,350 

 

$

836,021 

 

Room and board, net

 

(3,938)

 

 

(3,892)

 

 

 

(7,196)

 

 

(7,417)

 

Contractual allowances

 

(4,844)

 

 

(3,984)

 

 

 

(9,921)

 

 

(6,304)

 

Medicare cap allowance

 

(500)

 

 

(16,375)

 

 

 

(2,875)

 

 

(18,700)

 

Net Revenue

$

443,341 

 

$

396,201 

 

 

$

863,358 

 

$

803,600 

 

Net revenue as a percent of total before Medicare cap allowance

 

 

 

 

 

 

 

 

 

 

 

 

 

Homecare

 

86.5 

%

 

85.2 

%

 

 

86.4 

%

 

84.9 

%

Inpatient

 

7.9 

 

 

7.9 

 

 

 

8.1 

 

 

8.0 

 

Continuous care

 

4.3 

 

 

5.6 

 

 

 

4.2 

 

 

5.8 

 

Other

 

1.3 

 

 

1.3 

 

 

 

1.3 

 

 

1.3 

 

Subtotal

 

100.0 

 

 

100.0 

 

 

 

100.0 

 

 

100.0 

 

Room and board, net

 

(0.9)

 

 

(0.9)

 

 

 

(0.9)

 

 

(0.9)

 

Contractual allowances

 

(1.1)

 

 

(0.9)

 

 

 

(1.1)

 

 

(0.8)

 

Medicare cap allowance

 

(0.1)

 

 

(3.9)

 

 

 

(0.3)

 

 

(2.2)

 

Net Revenue

 

97.9 

%

 

94.3 

%

 

 

97.7 

%

 

96.1 

%

Days of care

 

 

 

 

 

 

 

 

 

 

 

 

 

Homecare

 

1,792,360 

 

 

1,662,455 

 

 

 

3,483,979 

 

 

3,295,024 

 

Nursing home

 

303,053 

 

 

307,158 

 

 

 

597,871 

 

 

614,266 

 

Respite

 

12,307 

 

 

11,440 

 

 

 

23,182 

 

 

21,435 

 

Subtotal routine homecare and respite

 

2,107,720 

 

 

1,981,053 

 

 

 

4,105,032 

 

 

3,930,725 

 

Inpatient

 

29,703 

 

 

28,213 

 

 

 

60,177 

 

 

57,917 

 

Continuous care

 

18,094 

 

 

21,647 

 

 

 

35,382 

 

 

44,267 

 

Total

 

2,155,517 

 

 

2,030,913 

 

 

 

4,200,591 

 

 

4,032,909 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

Number of days in relevant time period

 

91 

 

 

91 

 

 

 

181 

 

 

181 

 

Average daily census ("ADC") (days)

 

 

 

 

 

 

 

 

 

 

 

 

 

Homecare

 

19,697 

 

 

18,269 

 

 

 

19,249 

 

 

18,205 

 

Nursing home

 

3,330 

 

 

3,375 

 

 

 

3,303 

 

 

3,394 

 

Respite

 

135 

 

 

126 

 

 

 

128 

 

 

118 

 

Subtotal routine homecare and respite

 

23,162 

 

 

21,770 

 

 

 

22,680 

 

 

21,717 

 

Inpatient

 

326 

 

 

310 

 

 

 

333 

 

 

320 

 

Continuous care

 

199 

 

 

238 

 

 

 

195 

 

 

244 

 

Total

 

23,687 

 

 

22,318 

 

 

 

23,208 

 

 

22,281 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

Total Admissions

 

19,125 

 

 

17,545 

 

 

 

38,519 

 

 

35,684 

 

Total Discharges

 

18,167 

 

 

17,845 

 

 

 

36,704 

 

 

35,583 

 

Average length of stay (days)

 

101.2 

 

 

137.1 

 

 

 

101.9 

 

 

127.9 

 

Median length of stay (days)

 

16.0 

 

 

20.0 

 

 

 

15.0 

 

 

18.0 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

ADC by major diagnosis

 

 

 

 

 

 

 

 

 

 

 

 

 

Cerebro

 

44.2 

%

 

44.4 

%

 

 

44.4 

%

 

44.6 

%

Neurological

 

11.1 

 

 

12.1 

 

 

 

11.2 

 

 

12.2 

 

Cancer

 

9.5 

 

 

9.7 

 

 

 

9.5 

 

 

9.6 

 

Cardio

 

16.6 

 

 

16.2 

 

 

 

16.5 

 

 

16.1 

 

Respiratory

 

8.0 

 

 

7.5 

 

 

 

7.8 

 

 

7.3 

 

Other

 

10.6 

 

 

10.1 

 

 

 

10.6 

 

 

10.2 

 

Total

 

100.0 

%

 

100.0 

%

 

 

100.0 

%

 

100.0 

%

Admissions by major diagnosis

 

 

 

 

 

 

 

 

 

 

 

 

 

Cerebro

 

27.3 

%

 

26.7 

%

 

 

27.1 

%

 

27.6 

%

Neurological

 

7.1 

 

 

7.2 

 

 

 

7.0 

 

 

6.8 

 

Cancer

 

24.7 

 

 

26.6 

 

 

 

24.1 

 

 

25.6 

 

Cardio

 

15.2 

 

 

14.9 

 

 

 

15.5 

 

 

15.0 

 

Respiratory

 

11.8 

 

 

10.7 

 

 

 

12.1 

 

 

11.1 

 

Other

 

13.9 

 

 

13.9 

 

 

 

14.2 

 

 

13.9 

 

Total

 

100.0 

%

 

100.0 

%

 

 

100.0 

%

 

100.0 

%



 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated uncollectible accounts as a percent of revenues

 

0.7 

%

 

1.0 

%

 

 

1.1 

%

 

0.8 

%



 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable --

 

 

 

 

 

 

 

 

 

 

 

 

 

Days of revenue outstanding-excluding unapplied Medicare payments

39.7 

 

 

37.5 

 

 

 

n.a.

 

 

n.a.

 

Days of revenue outstanding-including unapplied Medicare payments

26.9 

 

 

26.9 

 

 

 

n.a.

 

 

n.a.

 






 









 

 

 

 

 

 

 

 

 

 

 

 

 

CHEMED CORPORATION AND SUBSIDIARY COMPANIES

FOOTNOTES TO FINANCIAL STATEMENTS

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025

(unaudited)



 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

Included in the results of operations for 2026 are the following significant credits/(charges) which may not be indicative of ongoing operations



(in thousands):

 

 

 

 

 

 

 

 

 

 

 

 



 

 

Three Months Ended June 30, 2026



 

 

VITAS

 

Roto-Rooter

 

Corporate

 

Consolidated



 

 

 

 

 

 

 

 

 

 

 

 

 



Stock option expense

 

$

 -

 

$

 -

 

$

(9,052)

 

$

(9,052)



Amortization of reacquired franchise agreements

 

 

 -

 

 

(2,352)

 

 

 -

 

 

(2,352)



Long-term incentive compensation

 

 

 -

 

 

 -

 

 

(2,248)

 

 

(2,248)



Legal expense

 

 

(548)

 

 

 -

 

 

 -

 

 

(548)



Acquisition expense

 

 

(8)

 

 

(60)

 

 

 -

 

 

(68)



Pretax impact on earnings

 

 

(556)

 

 

(2,412)

 

 

(11,300)

 

 

(14,268)



Excess tax expenses on stock compensation

 

 

 -

 

 

 -

 

 

(445)

 

 

(445)



Income tax benefit on the above

 

 

135 

 

 

562 

 

 

1,680 

 

 

2,377 



After-tax impact on earnings

 

$

(421)

 

$

(1,850)

 

$

(10,065)

 

$

(12,336)



 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

Six Months Ended June 30, 2026



 

 

VITAS

 

Roto-Rooter

 

Corporate

 

Consolidated



 

 

 

 

 

 

 

 

 

 

 

 

 



Stock option expense

 

$

 -

 

$

 -

 

$

(18,302)

 

$

(18,302)



Amortization of reacquired franchise agreements

 

 

 -

 

 

(4,704)

 

 

 -

 

 

(4,704)



Long-term incentive compensation

 

 

 -

 

 

 -

 

 

(3,753)

 

 

(3,753)



Legal settlements

 

 

(548)

 

 

 -

 

 

 -

 

 

(548)



Acquisition expense

 

 

(8)

 

 

(226)

 

 

 -

 

 

(234)



Pretax impact on earnings

 

 

(556)

 

 

(4,930)

 

 

(22,055)

 

 

(27,541)



Excess tax expenses on stock compensation

 

 

 -

 

 

 -

 

 

(501)

 

 

(501)



Income tax benefit on the above

 

 

135 

 

 

1,149 

 

 

3,342 

 

 

4,626 



After-tax impact on earnings

 

$

(421)

 

$

(3,781)

 

$

(19,214)

 

$

(23,416)



 

 

 

 

 

 

 

 

 

 

 

 

 

(b)

Included in the results of operations for 2025 are the following significant credits/(charges) which may not be indicative of ongoing operations



(in thousands):

 

 

 

 

 

 

 

 

 

 

 

 



 

 

Three Months Ended June 30, 2025



 

 

VITAS

 

Roto-Rooter

 

Corporate

 

Consolidated



 

 

 

 

 

 

 

 

 

 

 

 

 



Stock option expense

 

$

 -

 

$

 -

 

$

(9,216)

 

$

(9,216)



Amortization of reacquired franchise agreements

 

 

 -

 

 

(2,352)

 

 

 -

 

 

(2,352)



Long-term incentive compensation

 

 

 -

 

 

 -

 

 

(853)

 

 

(853)



Pretax impact on earnings

 

 

 -

 

 

(2,352)

 

 

(10,069)

 

 

(12,421)



Excess tax benefits on stock compensation

 

 

 -

 

 

 -

 

 

50 

 

 

50 



Income tax benefit on the above

 

 

 -

 

 

546 

 

 

1,597 

 

 

2,143 



After-tax impact on earnings

 

$

 -

 

$

(1,806)

 

$

(8,422)

 

$

(10,228)



 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

Six Months Ended June 30, 2025



 

 

VITAS

 

Roto-Rooter

 

Corporate

 

Consolidated



 

 

 

 

 

 

 

 

 

 

 

 

 



Stock option expense

 

$

 -

 

$

 -

 

$

(18,307)

 

$

(18,307)



Amortization of reacquired franchise agreements

 

 

 -

 

 

(4,704)

 

 

 -

 

 

(4,704)



Long-term incentive compensation

 

 

 -

 

 

 -

 

 

(3,510)

 

 

(3,510)



Pretax impact on earnings

 

 

 -

 

 

(4,704)

 

 

(21,817)

 

 

(26,521)



Excess tax benefits on stock compensation

 

 

 -

 

 

 -

 

 

513 

 

 

513 



Income tax benefit on the above

 

 

 -

 

 

1,091 

 

 

3,371 

 

 

4,462 



After-tax impact on earnings

 

$

 -

 

$

(3,613)

 

$

(17,933)

 

$

(21,546)



 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

(c)

VITAS has 13 large (greater than 450 ADC), 24 medium (greater than 200 but less than 450 ADC) and 23 small (less than 200 ADC) hospice programs.  Of Vitas' 33 Medicare provider numbers, for the current cap year, 22 provider numbers have a Medicare cap cushion of greater than 10%, seven provider numbers have a Medicare cap cushion between 0% and 10%, and four provider numbers have a Medicare cap liability.