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Chemed Corporation (CHE)
NYSE:CHE
Earnings Data
Report Date
Apr 29, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
5.49Last Year’s EPS
5.63Same Quarter Last Year
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mixed picture: tangible operational progress (notably the meaningful improvement in Florida Medicare Cap exposure, VITAS admissions growth, and clear 2026 guidance with EPS upside) and concrete remediation plans (billing centralization, new SEO, commercial hiring). However, the company reported a significant quarterly miss, material margin compression at Roto-Rooter (driven by higher marketing and sharply increased water restoration write-offs), a decline in residential revenue, and near-term transition costs that weigh on H1 2026 results. Management expressed confidence in the mid-to-long-term recovery and provided specific initiatives and numerical guidance, but execution risk and timing (H2-weighted recovery) leave the outlook contingent on successful implementation of these fixes.Company Guidance
VITAS Admissions Growth
VITAS admissions totaled 17,419 in Q4 FY2025, a 6% increase year-over-year, with hospital-directed admissions and other channels contributing to improved intake.
Improved Florida Medicare Cap Position
Management reported a substantial improvement in the Florida Medicare Cap position (management referenced roughly a $25 million year-over-year improvement and later noted ~ $28 million+ improvement), with no Florida Medicare Cap billing limitation recorded at the end of January 2026 and a Q4 accrual of only $2.4 million for overall Medicare Cap billing limitations.
VITAS Revenue and Margins (Q4)
VITAS net revenue in Q4 was $418.8 million, up 1.9% year-over-year, driven by a 1.3% increase in days of care and an approximate 2.2% geographically weighted average Medicare reimbursement increase; average revenue per patient day was $208.01 (up 86 bps). Adjusted EBITDA (excluding Medicare Cap) was $91.6 million (down 1.7%) with an adjusted margin of 21.7% (down 79 bps).
2026 Guidance and Upside
Management provided full-year 2026 guidance showing anticipated improvement: VITAS revenue (pre-Cap) +5.5% to +6.5%, average daily census +3.5% to +4%, EBITDA margin (pre-Cap) 17.5%–18%, and consolidated adjusted EPS (ex certain items) of $23.25–$24.25 versus adjusted EPS of $21.55 in 2025. Medicare Cap billing limitations are forecast to fall to ~$9.5 million in calendar 2026 (vs $27.2 million in 2025).
New Florida Market Opportunity (Manatee County)
Chemed received a certificate of need to operate in Manatee County, Florida (December 2025). Management noted Manatee had ~3,000 Medicare hospice patients in government FY2024 and cited prior CON wins (Pinellas, Marion, Pasco) that have met or exceeded expectations as evidence of growth potential.
Roto-Rooter Commercial Progress & Paid-Lead Growth
Branch commercial revenue rose 1.6% in Q4, and branches with newly added commercial business managers have delivered approximately 10% higher revenue than branches without them. Paid lead generation increased ~9.4% in Q4 and ~10% in each of the last three quarters, demonstrating traction on paid acquisition initiatives.
Balance Sheet / Capital Return
The company repurchased 400,000 shares in the quarter at an average price of $436.39; since the buyback program began Chemed has returned over $2.9 billion to shareholders at an average cost of ~$167 per share.
Operational Remediations Announced
Management has initiated targeted actions: refocusing VITAS admission mix away from short-stay hospital admissions to improve long-term revenue/EBITDA, centralizing Roto-Rooter water restoration billing and collections, and engaging a new SEO provider to improve natural search visibility.
CHE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CHE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $466.60 | $396.63 | -15.00% |
Oct 31, 2025 | $430.16 | $439.52 | +2.17% |
Jun 30, 2025 | $484.98 | $481.98 | -0.62% |
Apr 23, 2025 | $582.60 | $544.11 | -6.61% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Chemed Corporation (CHE) report earnings?
Chemed Corporation (CHE) is schdueled to report earning on Apr 29, 2026, After Close (Confirmed).
What is Chemed Corporation (CHE) earnings time?
Chemed Corporation (CHE) earnings time is at Apr 29, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CHE EPS forecast?
CHE EPS forecast for the fiscal quarter 2026 (Q1) is 5.49.