LHC: 2Q Earnings Snapshot
LAFAYETTE, La. (AP) _ LHC Group Inc. (LHCG) on Wednesday reported second-quarter net income of $25 million.
On a per-share basis, the Lafayette, Louisiana-based company said it had net income of 80 cents. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to $1.07 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets posted revenue of $517.8 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $521.9 million.
LHC expects full-year earnings in the range of $4.25 to $4.35 per share, with revenue in the range of $2.09 billion to $2.14 billion.
LHC shares have risen 31% since the beginning of the year. The stock has climbed 34% in the last 12 months.