R. Allison
our and Officer. Officer; Brad welcome XXXX Brian With to today second Financial our quarter you, and Poff, call. Thank me President Good Chief morning, earnings are Bickham, our Operating and Dru. Chief
few begin and our I will overall Brian detail. discuss more quarter results on quarterly each will of with As second we the comments, do in then calls, a
three the be happy comments, would of respond to questions. any us our to Following
we the you our completed up secondary stock of wanted to second which our Before XXXX, offering, recent of end for quarter June. I on date I discuss at results the to bring
personal of to of concluded structure, management As keep over our of to the equity, and proactively care operation our leverage following prudent acquisition close of would debt Xx, of Directors the common net the Gentiva raise part capital would Gentiva, which be of review our a just that it pending transaction. the Board
utilize With intention, the net with million Jefferies, a offering, of we were investment after of as to sourcing we partners, similar previously both and in the banks offering.
It cash of offerings, have our of of XX supported us help stock type approximately and of additional our following stock our want raising that complete to Bank America value proceeds our XX will $XXX the to along and bring the banking to acquisitions is other which thank size shareholders.
I done to that this allow to successful continue able next these offer. our to the shareholders stock resulted funds months expenses over
capital to that team maintain to all conservative Addus. of brings forward sheet, our shareholders value a continuing to using while way Our looks balance in a
performance financial in the our Now to second let me turn quarter.
for to adjusted XXXX yesterday, quarter second million the quarter announced XXXX.
This we for to increase compared of of compared was growth second an of as As quarter earnings revenue XXXX revenue our as adjusted $XXX the per an of the second for resulted of XX.X% XX.X%. $X.XX, million, of per of increase total in share $X.XX $XXX.X earnings share
quarter $XX.X EBITDA XX.X% million Our XXXX. the over of of adjusted increase an of was second
more deal which and base, advocacy in dynamic.
This promoting care states We broad provides strengthen to with care our of payers, State will which of We Texas, of is and select with geographic to reimbursement existing retention of to largest potential cash XX, strong this of we we quarter us this adding operate, strategy believe leaves presence, also States. in align services our in hand with debt revenue and at it our states to to enhancing pay XXXX, that coverage with to this be provider and markets as that managed be ability and hospice access of states facilitate we assets flows. acquire That, over will the the allowed they hiring continued with use enter care second adding providers scale. while and that more believe at growth are us the any primarily a of services During value-based arrangement participate final have result helps and United Once where to scale to of to is particularly experience operate important led have in us new #X our value-based providers closed, contracts equity Medicaid services to favorable pursue strategic care financial focus the where offering, acquiring end.
It rules.
This Gentiva. development personal Addus a Medicaid care our the million personal in acquisition $XXX contracting one where these personal a with all the managed for announced clinical we meaningful continue the XXXX, quarter our along cash the of acquisition a consistent Medicaid June successful, strategy our bigger operations opportunity to has off outstanding is providers approximately personal in adapt capacity costs on personal we our of in remains allows care spread the market. changes.
On personal can belief and a Gentiva, scale markets, overall they coverage
connection expired week, for strengthens with as last this was conditions Tennessee an in and this our into completion Act larger acquisition, This California period existing Veterans Carolina.
Effective state, to important in and gives Eastern step Affairs Arkansas, presence and us entry operations the transaction. private waiting transaction the of the and addition, our under the necessary of in a pay one Antitrust North Arizona both which in provide toward closing. the In the satisfies key regulatory location required businesses Missouri Hart-Scott-Rodino
We this waiver transaction remaining Texas approvals this the or closing the of subject in including quarter the related are customary to targeting of year, operation. regulatory fourth of conditions, to finalization satisfaction
are diligently a very in transition Currently, new we of to the many growing as business quality about our We closed. excited anticipation once customers, providing planning will continue to team job and that team Addus which is expect done in part our working closing. is services members the in transaction this team joining has company. be This great of
quarter, results to ability hire Care Personal in especially solid to related second we During segment. experience to our caregivers, the continued our
During business set the care have saw second while at record quarter hires historically per our we at hiring remained low of rates turnover XX day, company levels. XXXX, personal a
the momentum In see per over addition hiring to our business continued have our day consistent in few strong starts to numbers, quarters. past we
hiring a As Clinical pre-COVID more continued for and environment. normalized our improve to be hiring segment, returning has to seems to
over As of from the the couple to past the or years, Plan utilize continue we American funding ARPA. Act we have Rescue we received
of receive $XX to Care caregiver segment, our with million, million, received of XXXX, an our support we which favorable have million as in programs and utilize. and second to personal our confident We helpful over care. Medicaid personal services states believe to many quarter retention deliver remaining total stable both continue managed the are our bringing state partners cost a overall $X continue to of condition. funds to care in reimbursement reduction $XX operate, to that These date our well which as financial our states through During we feel Personal from the recruitment we that approximately additional of value we the services remain real care efforts.
In in
reductions will services, increase pleased hospice proposal, increased reimbursement the the rate effective year, announced Earlier if health compared the health final were at of of rate approximately CMS X.X%. year, on health this June for be affected with was X.X%. well the of pending year, proposed.
We an home rate slightly rate based that may of Consistent incremental the XXXX Medicare resulting On final may preliminary increase XXXX, October increased the year.
On would approximately believe It this hospice to with bode [ clinical In for and in X, for of fiscal January by Medicaid in July what a in we much-needed X, the reimbursement X, believe adjustment X.X%, due was pursue announced between see home XXXX. proposed that by later XXXX, this the rule X this hospice finalized as increase for that limits of years, rate original the home late on CMS improve valuable finalization CMS reduction be X.X%, final which was January years. positive effective is health hospice and rate our October proposed access imposed for the we health XX, rule approximately to on past which finalized X.X%. hospice continues to hospice providers, the rate preliminary reimbursement service. patient this which consistent have we as seen disappointing to home over home As ] few recent
Medicare challenging, Although believe few to that years. the moderate to we reimbursement environment pressures rate continue Medicare home the over home likely traditional are remains current next health
Now the same-store second discuss for me our of XXXX. growth quarter revenue let
quarter growth to was Personal second our compared same-store For our of revenue Care segment, XXXX. X.X% when the
care business our personal hours to I growth quarter us second is as increased to the same-store During hires saw first period day, with mentioned the by which this the previously. we compared X.X% XXXX, same per compared of quarter in year. and Helping X.X% XX as this record XXXX, of
hours, has growth. also percentage in We to also helped our compared hours authorized saw our improvement served of continued which
trends, speed While a more pleased some personal our care.
In seen redeterminations return redetermination this the in are of care which are completed to enrollment a a consumers. the to appears positive Medicaid We resources process see personal have care authorized time, initial temporary at in volume the from momentum slight diverted in for in normal anticipate state have as each slowdown we processes leading the we new continued qualifying same few to to slowness new are consumers at process, state. markets, our
clinical to Turning operations. our
Our in increased when to X.X% quarter compared hospice revenue same-store the XXXX. same
length Our compared of last up was our end hospice Care Quality daily the sequentially.
At when stay XX Tennessee XX same our the exclusive operations XXXX, X.X% as same-store quarter acquired for to JourneyCare year of medium quarter days was and to increased and XXXX. quarter second the first of of recently days average X.X% of compared the census
exclude done our the we've length area. as Chicago in inpatient is stay we patients units previously, As our shorter of a of it higher proportion operation due JourneyCare to
in half continuing into hospice trends anticipate favorable the our by second pleased are segment steady the those XXXX. We improvement and year this of
of XXXX, same-store quarter revenue we X.X% Health segment same-store a increase quarterly of on increase compared saw volume when Home a to and sequential same saw X.X% Our of the basis. total
home fee-for-service most we beneficiaries As experienced, Medicare Medicare by Advantage. affected of to to Medicare health continue movement providers be have the from
volume improvement mix we seen past are sequentially However, over several seems over X have the non-episodic steady stabilized to quarters. have to quarters, episodic the past and
with increases on Medicare to to our longer-term reimbursement Advantage discussed we continuing work are partners moving visit as per We methodologies. rate near-term episodic
an As announced our our recent acquisitions demonstrated Gentiva at of important part strategy have growth by we be transaction, continue Addus. to
Our growth remains even of of annual the targeted size minimum revenue base. added with goal, our our revenue XX%
we our find targets strategic to exceed code, focused us acquisition continue For on will using our or additional be criteria. to meet this that to capital meeting
our for closing particularly health. the both Skilled await of potential we we be looking Gentiva acquisitions Care segments, for home While transaction, will Personal the and
acquisition Over of limited unfavorable that strategic meet opportunities years, some the the market somewhat general have our to been past conditions. opportunities couple due
and review markets strengthen which currently to would continues our operate. where opportunities, segments all X team Our we of
markets we However, our ago. potential similar of capital the of arise meet slower saw our still the X than to to maintain that deals allow we to Even to be in will with able slower flow strategic or deals, flow acquisitions complete believe advantage to that we to acquisition be objectives, years structure we us acquisition. the potential continues Gentiva X will of us opportunities a take and that continue growth allow will
well noted we that percentage post gather, quarter As to hospital as demonstrates value-based various I intervals. the data, at -- efforts, readmitted to material for reductions as discharge the which both patients last which in emergency of visits care our continue room
skilled due census our ability to personal resources provide condition, interventions. and believe clinical nonclinical needed patient care services to our as changes continue and specific identify for care to We both to
in reduce care part our the improving that using overall Medicare Addus announced are with care. the to of We will with operations, This to acquisition payers various with payers Personal conversations into be Gentiva managed important while members the care can Texas plan to Texas growth Medicaid is and recently market we quality as quality, an ratio, of now cost-effective this enter Advantage have now an Care information relationships opportunity strong have care of for value-based providing our simultaneously demonstrate commercial the medical integral as part care.
With can value-based of our overall how loss we in program.
with to transaction once a the We certain of payers expect value-based to able approach in work be closes. these
I givers Before awareness consumers home, want to the that and receive years for most care worked care and our want safest care me a growth are cost-effective patients our of case which care.
We to operations call to dedicated will vast the for Brian. providing turn shown few to outstanding company. of one providing both this heightened patients that, dependent majority favorable hard remarks, elderly support appreciate other to our and value the and care I last care on places clients, to receive close understand thank at families.
With of remains the the industry our our to be of they team our clients have and employees, believe and my are home-based continue and their our patients. disabled for let the These so our and to opportunity We incredibly and over is who and that growth
