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Healthcare Services beats 1Q profit forecasts

BENSALEM, Pa. (AP) _ Healthcare Services Group Inc. (HCSG) on Tuesday reported first-quarter earnings of $22 million.

The Bensalem, Pennsylvania-based company said it had profit of 30 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The provider of housekeeping, laundry and dietary services to health care facilities posted revenue of $404.5 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $417.1 million.

Healthcare Services shares have increased roughly 8 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $42.18, a climb of 15 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HCSG at https://www.zacks.com/ap/HCSG


Keywords: Healthcare Services, Earnings Report