Healthcare services company Chemed Corporation (NYSE: CHE) will be reporting results this Tuesday after market close. Here’s what investors should know.
Chemed beat analysts’ revenue expectations last quarter, reporting revenues of $673.3 million, up 8.8% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ full-year EPS guidance estimates and a beat of analysts’ EPS estimates.
Is Chemed a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Chemed’s revenue to grow 9.5% year on year, improving from the 3.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Chemed has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Chemed’s peers in the healthcare providers & services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Elevance Health posted flat year-on-year revenue, beating analysts’ expectations by 3.1%, and UnitedHealth reported flat revenue, topping estimates by 1.2%. Elevance Health traded up 1.4% following the results while UnitedHealth was also up 4.5%.
Read our full analysis of Elevance Health’s results here and UnitedHealth’s results here.
There has been positive sentiment among investors in the healthcare providers & services segment, with share prices up 2.7% on average over the last month. Chemed’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $571.60 (compared to the current share price of $512.99).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
