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LHC Group, Inc. (NASDAQ: LHCG) will release its third quarter results for the period ending September 30, 2020, on November 4, 2020, after market close. A conference call for investors is scheduled for November 5, 2020, at 10:00 a.m. Eastern Time, where the results will be discussed. The call will be accessible via phone and webcast, with a replay available for one year. LHC Group provides in-home healthcare services to a significant portion of the U.S. population, partnering with nearly 400 hospitals and health systems nationwide.
LHC Group, Inc. (NASDAQ: LHCG) has finalized two joint venture agreements in Georgia and acquired a hospice provider in Colorado, effective October 1, 2020. In Gainesville, GA, LHC Group will co-own SunCrest Home Health with Northeast Georgia Health System, rebranding it to Northeast Georgia Home Health. In Aurora, CO, they will purchase Santa Rita Hospice, which will operate under the At Home Hospice name. The company anticipates an annualized revenue increase of approximately $8.3 million from these ventures, aiming to enhance its service offerings across regions.
LHC Group, Inc. (NASDAQ: LHCG) will present at the Baird 2020 Global Healthcare Conference on September 9, 2020, starting at 8:30 a.m. Eastern time. Investors can access a live webcast through the company's Investor Relations page, available 15 minutes before the event. LHC Group is a leading provider of in-home healthcare services, operating in 35 states and the District of Columbia, reaching 60% of the U.S. population aged 65 and older and partnering with 350 hospitals nationwide.
LHC Group (NASDAQ: LHCG) and University Health Care System have established a definitive agreement for a joint venture aimed at enhancing home health and hospice services across eight cities in Georgia and South Carolina. The joint venture will comprise 10 locations, with LHC Group acquiring majority ownership and management responsibilities. Expected to finalize by October 1, this collaboration anticipates an incremental annualized revenue of approximately $8.3 million for LHC Group. The agreement is expected to maintain the 2020 diluted EPS.
LHC Group, Inc. (LHCG) reported Q2 2020 financial results with net service revenue declining 5.9% to $487.3 million, attributed to COVID-19 impacts. Net income rose 78.8% to $44.7 million ($1.43 per diluted share), while adjusted net income increased 15.9% to $38.6 million ($1.23 per diluted share). Adjusted EBITDA grew 8.8% to $57.7 million. The company reinstated full-year 2020 guidance, projecting revenues between $2.0 billion and $2.05 billion. The joint venture with Orlando Health is expected to generate $3.5 million in annual revenue.
LHC Group has announced the promotion of Joshua Proffitt to president and the hiring of Robert Williams as the new chief financial officer, effective July 13, 2020. Proffitt has been with LHC Group since 2008, serving in various leadership roles, most recently as CFO. He played a vital role in the merger with Almost Family. Williams, previously with ChenMed, brings over 20 years of experience in financial operations and value-based care management, expected to enhance LHC Group's financial performance as they engage with managed care payor partners.
LHC Group, Inc. (NASDAQ: LHCG) will present at the BofA Securities 2020 Virtual Health Care Conference on May 12, 2020, starting at 11:40 a.m. Eastern time. The presentation can be accessed via a live webcast. A replay will be available for 30 days post-event. LHC Group is a leading provider of in-home healthcare services, covering 35 states and serving over 60% of the U.S. population aged 65 and older.
LHC Group, Inc. (NASDAQ: LHCG) reported Q1 2020 financial results showing a 2.0% increase in net service revenue to $512.9 million and a 16.8% rise in net income to $22.0 million. Earnings per diluted share rose 16.7% to $0.70. Organic growth in home health admissions was 7.1%, while hospice admissions saw 0.2% growth. However, COVID-19 impacted operations, generating $2.9 million in additional costs. The company withdrew its 2020 guidance due to uncertainties. LHC Group maintains strong liquidity, with over $385.4 million available.