VITAS touts significant Q3 success, projects future growth

VITAS touts significant Q3 success, projects future growth 
McKnights Home Care; by Adam Healy; 10/31/24 
VITAS, the home care and hospice subsidiary of Chemed, achieved robust financial results in the third quarter of 2024 and is poised for continued growth, company leadership said Wednesday during an earnings-related conference call. “We are excited about the continued strong results of VITAS,” Kevin McNamara, president and chief executive officer of Chemed, said, according to a transcript. “We are very bullish on the prospects for VITAS for the remainder of 2024 and beyond.” In the quarter ended Sept. 31, VITAS generated $53.4 million in profits, a 20.6% increase compared with the prior year quarter. Revenues rose 17.2% to $391.4 million. Chemed as a whole produced $75.7 million in net profit, a 1% increase year-over-year, behind revenues that increased nearly 7.4% to $606.1 million, according to an earnings report.