Key Highlights

  • Revenues rose 7.0% to USD 387.7 million, and Net Income was USD 28.6 million, or USD 1.54 per share.
  • Adjusted net income per diluted share climbed 17.3% to USD 1.83, and adjusted EBITDA grew 13.5% to USD 51.2 million.
  • Operating cash flow was USD 40.9 million, and it agreed to buy AccentCare's personal care division for USD 275 million.
  • Personal care services made up 77.6% of third-quarter Revenue and delivered 6.9% organic growth against the same quarter last year.

A Quarter of Profitable Growth

Addus HomeCare Corporation (NASDAQ:ADUS), a provider of home care services based in Frisco, Texas, reported third-quarter 2026 net service revenues of USD 387.7 million, a 7.0% increase from USD 362.3 million a year earlier. Net income rose to USD 28.6 million from USD 22.8 million, and net income per diluted share was USD 1.54 compared with USD 1.24.

Adjusted net income reached USD 33.9 million against USD 28.7 million, which lifted adjusted net income per diluted share to USD 1.83 from USD 1.56. The adjustment for the latest quarter excluded Acquisition expenses of USD 0.16, stock-based compensation of USD 0.12 and restructuring and other non-recurring costs of USD 0.01. Adjusted EBITDA increased 13.5% to USD 51.2 million from USD 45.1 million.

Chairman and Chief Executive Officer Dirk Allison said the quarter reflected profitable growth and execution across service lines, and that cost control and Operating Leverage drove the expansion in adjusted EBITDA and net income.

Analyst estimates were EPS of USD 1.79 against reported EPS of USD 1.83, and revenue of USD 388.7 million against reported revenue of USD 387.7 million.

Personal Care Leads the Mix

Personal care services accounted for 77.6% of third-quarter revenue and produced a 6.9% organic revenue increase over the prior-year quarter. Allison attributed the growth to organic Volume expansion, the first full quarter of contribution from the HomeCourt Home Care acquisition and the continuing benefit of earlier favorable rate adjustments in core states. He also said Demand for high-quality, cost-effective care in the home continues.

For the first nine months of 2026, net service revenues rose 7.6% to USD 1.129 billion from USD 1.049 billion. Net income was USD 81.3 million compared with USD 66.1 million, and net income per diluted share was USD 4.39 compared with USD 3.60. Adjusted EBITDA for the period grew 11.8% to USD 144.9 million from USD 129.6 million, and adjusted net income per diluted share was USD 5.19 against USD 4.48.

AccentCare Deal and Balance Sheet

The company announced a definitive agreement to acquire the personal care division of AccentCare for USD 275.0 million. The Business adds USD 280 million of annualized revenue, and widens the footprint in states including Texas, Illinois, California and Arizona.

Net cash provided by Operating Activities was USD 40.9 million in the quarter. The company reported a revolving Credit Facility of USD 650.0 million with USD 617.8 million of availability, and management described leverage as low, which provides room to fund growth.

What to Watch After the Deal

Closing of the AccentCare transaction, integration of the acquired states and the pace of organic personal care growth are the main items to follow in coming quarters.