Why Healthcare Services Shares Gain 20%?
Healthcare Services Group (NASDAQ: HCSG) shares gained almost 20% on April 20, after the company delivered a blowout first-quarter results, impressively surpassing earnings expectations. HCSG also raised its quarterly cash dividend for the 75th consecutive time. Based in the U.S., Healthcare Services Group is an experienced leader in managing housekeeping, laundry, dining, and nutritional services within the healthcare industry. Q1 Numbers Notably, adjusted earnings of $0.15 per share more than doubled analysts’ expectations of $0.06 per share. However, it was half of the reported earnings of $0.33 per share for the prior-year period. Furthermore, revenues jumped 4.7% year-over-year to $426.8 million and exceeded consensus estimates of $424.77 million.
Why Healthcare Services Shares Gain 20%?
Healthcare Services Group (NASDAQ: HCSG) shares gained almost 20% on April 20, after the company delivered a blowout first-quarter results, impressively surpassing earnings expectations. HCSG also raised its quarterly cash dividend for the 75th consecutive time. Based in the U.S., Healthcare Services Group is an experienced leader in managing housekeeping, laundry, dining, and nutritional services within the healthcare industry. Q1 Numbers Notably, adjusted earnings of $0.15 per share more than doubled analysts’ expectations of $0.06 per share. However, it was half of the reported earnings of $0.33 per share for the prior-year period. Furthermore, revenues jumped 4.7% year-over-year to $426.8 million and exceeded consensus estimates of $424.77 million.