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Healthcare Services Group (HCSG) investor relations material
Healthcare Services Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong Q3 results with year-over-year and sequential increases in revenue, earnings, and cash flow, driven by new client wins, high retention rates, and operational excellence.
Revenues grew 8.5% year-over-year to $464.3 million for Q3 2025, driven by increased facility count, contractual price increases, and organic growth in Dietary services.
Net income surged to $43.0 million in Q3 2025, aided by Employee Retention Credit (ERC) refunds and improved operating performance.
Strategic priorities for Q4 include management development, sales pipeline conversion, facility retention, cost management, and cash flow optimization.
Maintained positive cash collection trends and a robust balance sheet, supporting continued execution of strategic priorities.
Financial highlights
Q3 revenue reached $464.3 million, up 8.5% over the prior year; environmental segment revenue was $211.8 million, dietary services $252.5 million.
Net income was $43.0 million, with diluted EPS of $0.59, including a $0.36 per share benefit from ERC and Genesis adjustments.
Cash flow from operations was $71.3 million; adjusted for payroll accrual, $87.1 million, including a $31.8 million ERC benefit.
Adjusted EBITDA for the quarter was $56.4 million, or 12.1% of revenue, compared to $24.8 million, or 5.8%, in the prior year.
$34.2 million in ERC refunds recognized as a reduction to costs of services provided in Q3 2025.
Outlook and guidance
Q4 revenue estimated between $460 million and $470 million.
Mid-single-digit top-line growth targeted for 2025 and beyond, with more details to be provided in the next earnings call.
SG&A expected to be managed in the 9.5%-10.5% range near term, with a long-term goal of 8.5%-9.5%.
Cost of services targeted in the 86% range for the full year.
Capital expenditures for 2025 estimated at $5.0–$7.0 million, with $4.4 million spent through Q3.
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