LHC Group (LHCG - Free Report) reported adjusted earnings per share (EPS) of 98 cents in the first quarter of 2019. The figure beat the Zacks Consensus Estimate of 90 cents and also surged 55.6% year over year.
The Zacks Rank #3 (Hold) company posted revenues worth $502.6 million in the quarter, which missed the Zacks Consensus Estimate by 1.7%. Revenues however shot up 72.7% on a year-over-year basis.
In the quarter under review, total growth in home health admissions was 76.3% year over year and organic growth was 5.7%.
Total growth in home health revenues was 77.4% year over year and organic growth was 7%. Meanwhile, growth in hospice admissions was 13.1% year over year and organic growth was 6.2%.
Notably, the company realized approximately $7.4 million in pre-tax synergies in the first quarter from its acquisition of Almost Family. In the reported quarter, the company agreed to acquire 18 home health, hospice or home and community-based services locations, all of which are hospital joint ventures.