NYSE$CHE
Chemed Corp · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Chemed reported mixed Q4 2020 results with revenue increase and EPS growth.
Chemed Corporation reported a 2.1% increase in revenue to $533 million. GAAP diluted EPS increased by 75.8% to $6.96, and adjusted diluted EPS increased by 21.6% to $5.13. VITAS segment revenue declined by 2.3%, while Roto-Rooter's revenue increased by 10.2%.
- Consolidated revenue increased by 2.1% to $533 million.
- GAAP diluted EPS increased by 75.8% to $6.96.
- Adjusted diluted EPS increased by 21.6% to $5.13.
- Roto-Rooter revenue increased by 10.2% to $201 million.
Headline financials
Revenue & EPS history
Chemed · Revenue · Quarterly
$533M
Revenue by segment
Chemed · $533M total across 2 segments · Q4 2020
- VITAS Healthcare$332M-2.4%62.3%
- Roto-Rooter$201M+10.4%37.7%
Forward guidance
Chemed provided guidance for the full year 2021, anticipating challenges due to the COVID-19 pandemic. VITAS is expected to experience a revenue decline and ADC decrease, while Roto-Rooter is forecasted to achieve revenue growth. Full-year adjusted earnings per diluted share are estimated to be in the range of $17.00 to $17.50.
Tailwinds
- Roto-Rooter is forecasted to achieve full-year 2021 revenue growth of 5% to 6%.
- Roto-Rooter’s Adjusted EBITDA margin for 2021 is estimated to be 26.0%.
- Full-year 2021 adjusted earnings per diluted share, excluding certain items, is estimated to be in the range of $17.00 to $17.50.
- This 2021 guidance assumes an effective corporate tax rate on adjusted earnings of 24.7%.
- Chemed’s 2020 reported adjusted earnings per diluted share was $18.08.
Headwinds
- VITAS 2021 revenue, prior to Medicare Cap, is estimated to decline approximately 4.0% when compared to the prior year.
- Average Daily Census in 2021 is estimated to decline approximately 5.0%.
- Full-year Adjusted EBITDA margin, prior to Medicare Cap, is estimated to be 19.4%.
- The guidance anticipates continued weak occupancy and corresponding weak referrals from senior housing for the first half of 2021.
- We are currently estimating $10 million for Medicare Cap billing limitations in calendar year 2021.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2020
+0.7%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+2.1%
Avg return
30 days after
53%
36 / 68 earnings
Positive
+13.0%
Q3 2015
Best reaction
-14.8%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.4% | -0.1% | +4.0% | |
| Q4 2025 | -14.8% | -9.1% | -21.0% | |
| Q3 2025 | +6.0% | +0.4% | +0.1% | |
| Q1 2025 | -6.6% | -1.8% | -2.7% | |
| Q4 2024 | +7.4% | +7.7% | +11.0% | |
| Q3 2024 | -12.0% | -12.7% | -6.2% | |
| Q2 2024 | -0.1% | +2.4% | +5.7% | |
| Q1 2024 | -7.0% | -8.1% | -9.9% | |
| Q4 2023 | +5.1% | +2.6% | +7.3% | |
| Q3 2023 | +9.3% | +10.9% | +14.4% | |
| Q2 2023 | -8.1% | -8.0% | -10.8% | |
| Q1 2023 | -3.7% | -2.2% | -4.1% | |
| Q4 2022 | +3.3% | +1.7% | +1.9% | |
| Q3 2022 | +3.2% | +4.1% | +12.6% | |
| Q2 2022 | -6.8% | -9.2% | -8.3% | |
| Q1 2022 | -1.4% | -1.0% | +0.8% | |
| Q4 2021 | +5.1% | +5.8% | +3.8% | |
| Q3 2021 | +9.2% | +9.0% | +9.4% | |
| Q2 2021 | -4.4% | -0.4% | -2.4% | |
| Q1 2021 | +1.5% | +2.3% | +6.1% | |
| Q4 2020 | -0.8% | -6.7% | -3.9% | |
| Q3 2020 | +1.2% | +3.5% | +0.2% | |
| Q2 2020 | +9.0% | +10.3% | +12.2% | |
| Q1 2020 | -3.9% | -6.5% | +5.6% | |
| Q4 2019 | +3.2% | -1.2% | -23.1% | |
| Q3 2019 | -1.7% | +0.6% | +5.9% | |
| Q2 2019 | +3.7% | +8.1% | +13.9% | |
| Q1 2019 | -0.6% | +0.7% | +0.3% | |
| Q4 2018 | +1.3% | +2.8% | +1.9% | |
| Q3 2018 | +6.2% | +6.6% | +7.6% | |
| Q2 2018 | +0.4% | -2.5% | +0.1% | |
| Q1 2018 | +3.0% | +3.3% | +13.4% | |
| Q4 2017 | +2.4% | +2.1% | +12.9% | |
| Q3 2017 | +9.1% | +5.0% | +12.7% | |
| Q2 2017 | -1.1% | -2.3% | -6.3% | |
| Q1 2017 | +10.0% | +9.4% | +9.0% | |
| Q4 2016 | +1.9% | +2.0% | +9.1% | |
| Q3 2016 | -0.3% | +1.8% | +6.3% | |
| Q2 2016 | +5.0% | +3.0% | -7.9% | |
| Q1 2016 | -6.7% | — | — | |
| Q4 2015 | -5.6% | — | — | |
| Q3 2015 | +13.0% | — | — | |
| Q2 2015 | +5.1% | — | — | |
| Q1 2015 | -4.7% | — | — | |
| Q4 2014 | +7.5% | — | — | |
| Q3 2014 | -1.2% | — | — | |
| Q2 2014 | +4.3% | — | — | |
| Q1 2014 | -3.3% | — | — | |
| Q4 2013 | +10.5% | — | — | |
| Q3 2013 | -5.2% | — | — | |
| Q2 2013 | -7.3% | — | — | |
| Q1 2013 | +3.4% | — | — | |
| Q4 2012 | +4.9% | — | — | |
| Q3 2012 | -2.0% | — | — | |
| Q2 2012 | +5.1% | — | — | |
| Q1 2012 | +2.9% | — | — | |
| Q4 2011 | +0.0% | — | — | |
| Q3 2011 | +1.5% | — | — | |
| Q2 2011 | -5.8% | — | — | |
| Q1 2010 | -2.6% | — | — | |
| Q1 2011 | +1.8% | — | — | |
| Q4 2008 | -1.6% | — | — | |
| Q4 2010 | -1.6% | — | — | |
| Q3 2009 | +1.4% | — | — | |
| Q3 2010 | +1.4% | — | — | |
| Q2 2010 | -0.9% | — | — | |
| Q2 2009 | -0.9% | — | — | |
| Q4 2009 | -0.9% | — | — |
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