blocks showing quarterly earnings

Ongoing challenges from the COVID-19 pandemic resulted in a tough quarter for home health giant LHC Group. The Lafayette, LA-based company earned $1.09 a diluted share in the first quarter on revenues of $571.5 million compared to $1.10 a diluted share on revenues of $524.8 million during the same period a year ago.

LHC Group reported organic growth in home health admission increased 1.6% during the first three months of this year compared to 2021, while growth in hospice admissions increased 4%. Last week Amedisys and Encompass Health also reported difficult first quarters due to high staff quarantines from the pandemic that resulted in those companies spending more on contract workers.  LHC Group Chairman and CEO Keith Myers offered no comment in the company’s earnings press release about the quarter.

LHC Group offers home health services in 37 states and the District of Columbia. In late March, United Healthcare announced its Optum division would acquire LHC Group for $5.4 billion in cash. The deal is expected to close in the second half of this year subject to approval from LHC Group shareholders, regulators and other customary closing conditions.