HCSG Provides Update On Client Restructuring; Reiterates 2024 Cash Flow Forecast & ROY Outlook
Healthcare Services Group, Inc. (HCSG)
Last healthcare services group, inc. earnings: 2/11 04:48 pm
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hcsg.client.shareholder.com
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Source: Business Wire
BENSALEM, Pa.--(BUSINESS WIRE)--Healthcare Services Group, Inc. (NASDAQ:HCSG) today issued the following statement in response to LaVie Care Centers’ announcement that it had filed for Chapter 11 bankruptcy protection in the Northern District of Georgia. As a result of LaVie’s filing, the Company estimates a Q2 non-cash charge of approximately $0.20 per share. The Company expects to continue providing services to LaVie and expects no impact on future revenue or earnings. Additionally, the Company anticipates no disruption in postpetition payments and reiterates its previously shared Q2 and 2024 adjusted cash flow expectations of $5.0 million to $15.0 million and $40.0 million to $55.0 million, respectively.Ted Wahl, Chief Executive Officer, stated, “The recent restructuring activity we’ve seen, including LaVie’s, is the result of conditions and events that occurred over the course of the past few years, as opposed to a reflection of the sector’s ‘current state.’ And while this res
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HCSG
Earnings
- 4/24/24 - Beat
HCSG
Sec Filings
- 6/3/24 - Form 8-K
- 5/29/24 - Form 4
- 5/29/24 - Form 4
- HCSG's page on the SEC website