FRISCO, Texas--(BUSINESS WIRE)--Nov. 3, 2026-- Addus HomeCare Corporation (NASDAQ: ADUS), a provider of home care services, today announced its financial results for the third quarter and nine months ended September 30, 2026.

Third Quarter 2026 Highlights:

• Net Service Revenues Increase 7.0% to $387.7 Million
• Net Income of $28.6 Million, or $1.54 per Diluted Share
• Adjusted Net Income per Diluted Share Increases 17.3% year-over-year to $1.83
• Adjusted EBITDA Increases 13.5% year-over-year to $51.2 Million
• Cash Flow from Operations of $40.9 Million
• Announced Definitive Agreement to Acquire Personal Care Division of AccentCare

Overview

Net service revenues were $387.7 million for the third quarter of 2026, a 7.0% increase compared with $362.3 million for the third quarter of 2025. Net income was $28.6 million for the third quarter of 2026 compared with $22.8 million for the third quarter of 2025, while net income per diluted share was $1.54 compared with $1.24 for the same period a year ago. Adjusted EBITDA increased 13.5% to $51.2 million for the third quarter of 2026 from $45.1 million for the third quarter of 2025. Adjusted net income was $33.9 million for the third quarter of 2026 compared with $28.7 million for the prior-year period, while adjusted net income per diluted share was $1.83 compared with $1.56 for the third quarter of 2025. Adjusted net income per diluted share for the third quarter of 2026 excludes acquisition expenses of $0.16, stock-based compensation expense of $0.12, and restructure and other non-recurring costs of $0.01. (See the end of press release for a reconciliation of all non-GAAP and GAAP financial measures.)

For the first nine months of 2026, net service revenues increased 7.6% to $1.129 billion from $1.049 billion for the prior-year period. Net income was $81.3 million for the first nine months of 2026 compared with $66.1 million for the same period in 2025, and net income per diluted share was $4.39 compared with $3.60 per diluted share. Adjusted EBITDA increased 11.8% to $144.9 million for the first nine months of 2026 from $129.6 million for the first nine months of 2025. Adjusted net income was $96.0 million for the first nine months of 2026 compared with $82.1 million for the first nine months of 2025, while adjusted net income per diluted share was $5.19 compared with $4.48 for the prior-year period.

Commenting on the results, Dirk Allison, Chairman and Chief Executive Officer, said, “Our third quarter results reflect another strong quarter of profitable growth and operational execution across our service lines. Top-line revenue grew 7.0%, while disciplined cost controls and operating leverage drove meaningful adjusted EBITDA and net income expansion. The demand for high-quality, cost-effective care in the home setting remains strong, and our team continues to execute well on our growth initiatives.

“Personal care services continued to drive our growth, accounting for 77.6% of our third quarter revenues and delivering a 6.9% organic revenue increase over the third quarter of last year. Growth was supported by organic volume expansion, the first full quarter of contribution from our HomeCourt Home Care acquisition, and ongoing benefits from historical favorable rate adjustments in core states like Illinois, Texas, and New Mexico. Importantly, during the quarter we announced a definitive agreement to acquire the personal care division of AccentCare for approximately $275.0 million. This transaction will add roughly $280 million in annualized revenue, a nearly 19% expansion of our total revenue base, while substantially expanding our capabilities across key states like Texas, Illinois, California, and Arizona.

“Our hospice segment contributed strong growth, representing 17.8% of third quarter revenue with a 4.3% organic increase in average daily census over the same period last year. Exclusive of the benefit we received from the implicit price concession in the third quarter last year, organic revenue in our hospice segment increased 8.8%. Meanwhile, home health accounted for 4.6% of revenue, showing encouraging admission and volume trends and a return to year over year organic revenue growth. Offering all three levels of care remains a major strategic advantage for Addus, allowing us to better serve our patients and clients while strengthening our ability to clinically collaborate with managed care plans and other value-based partners.”

Acquisitions Support Continued Growth

On September 14, 2026, the Company announced a definitive agreement to acquire the personal care division of AccentCare for an anticipated purchase price, subject to customary purchase price adjustments, of approximately $275.0 million. This transaction relates only to AccentCare’s personal care operations outside of New York, and is expected to close following completion of regulatory approvals and is subject to satisfaction of customary closing conditions.

Cash and Liquidity

As of September 30, 2026, the Company had cash of $98.5 million and bank debt of $24.3 million, with capacity and availability under its revolving credit facility of $650.0 million and $617.8 million, respectively. Net cash provided by operating activities was $40.9 million for the third quarter of 2026.

Allison added, “Our business generated $40.9 million in operating cash flow during the third quarter, further bolstering our strong balance sheet. With low leverage and substantial availability under our revolving credit facility, we maintain significant liquidity and financial capacity to fund strategic growth investments, which includes the pending AccentCare personal care division acquisition. As we expand our multi-state footprint, we remain disciplined in identifying complementary opportunities that build market density and enhance operational scale.”

Looking Ahead

“We are very pleased with our financial and strategic progress through the first nine months of 2026. Our scalable platform, strong cash flow generation, and expanding market reach position Addus exceptionally well for long-term value creation. As we work toward closing and integrating the AccentCare personal care operations, we look forward to growing our network of dedicated caregivers serving the needs of our customers.

“Our performance is a direct reflection of our compassionate caregivers who provide exceptional care to the communities we serve every single day. Supported by a strong financial foundation, we are excited about the trajectory of our business as we finish out 2026 and look forward to continuing our profitable growth and enhancing shareholder value,” concluded Allison.

Non-GAAP Financial Measures

The information provided in this release includes adjusted net income, adjusted EBITDA, adjusted net income per diluted share and adjusted net service revenue, which are non-GAAP financial measures. The Company defines adjusted net income as net income before acquisition expense, stock-based compensation expense, restructuring and other non-recurring costs, and the gain or loss on the sale of assets. The Company defines adjusted EBITDA as earnings before net interest expense, taxes, depreciation, amortization, acquisition expense, stock-based compensation expense, restructuring and other non-recurring costs, and the gain or loss on the sale of assets. The Company defines adjusted net income per diluted share as net income per share, adjusted for acquisition expense, stock-based compensation expense, restructuring and other non-recurring costs, and gain or loss on the sale of assets. The Company defines adjusted net service revenues as revenue adjusted for the closure of certain sites. The Company has provided, in the financial statement tables included in this press release, a reconciliation of adjusted net income to net income, a reconciliation of adjusted EBITDA to net income, a reconciliation of adjusted diluted net income per share to net income per share, and a reconciliation of adjusted net service revenues to net service revenues, in each case, the most directly comparable GAAP measure. Management believes that adjusted net income, adjusted EBITDA, adjusted diluted net income per share, and adjusted net service revenues are useful to investors, management and others in evaluating the Company’s operating performance, to provide investors with insight and consistency in the Company’s financial reporting and to present a basis for comparison of the Company’s business operations among periods, and to facilitate comparison with the results of the Company’s peers.

Conference Call

Addus HomeCare will host a conference call on Wednesday, November 4, 2026, at 9:00 a.m. Eastern Time. Joining the call from the Company will be Dirk Allison, Chairman and CEO, and Brian Poff, Executive Vice President and CFO. To access the live call, dial (833) 629-0620 (international dial-in number is (412) 317-1805) and ask to join the Addus HomeCare earnings call. A telephonic replay of the conference call will be available through midnight on November 11, 2026, by dialing (855) 669-9658 (international dial-in number is (412) 317-0088) and entering pass code 1329396.

A live broadcast of Addus HomeCare’s conference call will be available under the Investor Relations section of the Company’s website: www.addus.com. An online replay will also be available on the Company’s website for one month, beginning approximately two hours following the conclusion of the live broadcast.

Forward-Looking Statements

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by words such as “preliminary,” “continue,” “expect,” and similar expressions. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. Forward-looking statements involve a number of risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such forward-looking statements, including discretionary determinations by government officials, the consummation and integration of acquisitions, transition to managed care providers, our ability to successfully execute our growth strategy, unexpected increases in SG&A and other expenses, expected benefits and unexpected costs of acquisitions and dispositions, management plans related to dispositions, the possibility that expected benefits may not materialize as expected, the failure of the business to perform as expected, changes in reimbursement, changes in government regulations, changes in Addus HomeCare’s relationships with referral sources, increased competition for Addus HomeCare’s services, changes in the interpretation of government regulations, the uncertainty regarding the outcome of discussions with managed care organizations, changes in tax rates, the impact of adverse weather, higher than anticipated costs, lower than anticipated cost savings, estimation inaccuracies in future revenues, margins, earnings and growth, whether any anticipated receipt of payments will materialize, any security breaches, cyber-attacks, loss of data or cybersecurity threats or incidents, and other risks set forth in the Risk Factors section in Addus HomeCare’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 24, 2026, which is available at www.sec.gov. The financial information described herein and the periods to which they relate are preliminary estimates that are subject to change and finalization. There is no assurance that the final amounts and adjustments will not differ materially from the amounts described above, or that additional adjustments will not be identified, the impact of which may be material. Addus HomeCare undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, these forward-looking statements necessarily depend upon assumptions, estimates and dates that may be incorrect or imprecise and involve known and unknown risks, uncertainties, and other factors. Accordingly, any forward-looking statements included in this press release do not purport to be predictions of future events or circumstances and may not be realized. (Unaudited tables and notes follow).

About Addus HomeCare

Addus HomeCare is a provider of home care services that primarily include personal care services that assist with activities of daily living, as well as hospice and home health services. Addus HomeCare’s consumers are primarily persons who, without these services, are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled. Addus HomeCare’s payor clients include federal, state, and local governmental agencies, managed care organizations, commercial insurers, and private individuals. Addus HomeCare currently provides home care services to approximately 62,500 patients and consumers through 263 locations across 24 states. For more information, please visit www.addus.com.

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Brian W. Poff
Executive Vice President, Chief Financial Officer
Addus HomeCare Corporation
(469) 535-8200
investorrelations@addus.com

Teresa Moore
FINN Partners
(615) 324-7302
teresa.moore@finnpartners.com

Source: Addus HomeCare Corporation