Healthcare Services Group Reports Q4 Earnings of $11.9 Million

BENSALEM, Pa., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Healthcare Services Group Inc. (NASDAQ: HCSG) today announced its financial results for the fourth quarter and full year ended December 31, 2022.

Q4 Financial Highlights

* Revenue: $437.8 million, up 3.3% year-over-year
* Net income: $11.9 million, or $0.16 per share
* Adjusted EBITDA: $26.9 million

Full-Year Financial Highlights

* Revenue: $1.72 billion, up 2.7% year-over-year
* Net income: $39.5 million, or $0.53 per share
* Adjusted EBITDA: $105.9 million

Outlook

* For the first quarter of 2023, Healthcare Services expects revenue in the range of $440 million to $450 million.

Healthcare Services Group provides housekeeping, laundry, and dietary services to healthcare facilities. The company has operations in 20 states and employs over 15,000 people.