HCSG - Healthcare Services Group rallies 9% after Q1 earnings beat

Healthcare Services Group ([[HCSG]] +9.0%) reports Q1 revenue of $407.8M (-9.2% Y/Y), with housekeeping & laundry and dining & nutrition segment revenues of $215.1M and $192.7M, respectively.Direct cost of services was reported at $336.6M, or 82.6%.Housekeeping & laundry and dining & nutrition segment margins were 13.1% and 10.4%, respectively.SG&A was reported at $40M, or 9.8%.The Co.’s Board declared an increased quarterly cash dividend of $0.2075/common share, payable on June 25, 2021.Cash flow from operations of $3.5M, this includes a $30.7M decrease in accrued payroll.Net income of $24.7M, or EPS of $0.33, beats expectations by $0.06.Additionally, the Co. remains authorized to repurchase 1.7M shares of common stock pursuant to the previous Board of Directors’ authorization and expect to repurchase up to 1M shares through February 2022.Effective tax rate of 25.2% and expects a 2021 tax rate of 24% to 26%.Previously: Healthcare Services declares $0.2075 dividend (April 21)Previously: Healthcare Services EPS beats by $0.06, beats on

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Healthcare Services Group rallies 9% after Q1 earnings beat