LHC: 2Q Earnings Snapshot
LAFAYETTE, La. (AP) _ LHC Group Inc. (LHCG) on Wednesday reported second-quarter profit of $16.8 million.
The Lafayette, Louisiana-based company said it had net income of 55 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to 84 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets posted revenue of $502 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $509.1 million.
LHC expects full-year earnings in the range of $3.45 to $3.55 per share, with revenue in the range of $1.81 billion to $1.86 billion.
LHC shares have increased 47 percent since the beginning of the year. The stock has risen 55 percent in the last 12 months.