CHE - Earnings call transcript Q4 2024

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Operator

Hello, and welcome to the Chemed Corporation Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

It is now my pleasure to introduce Assistant Controller, Holley Schmidt.

Holley Schmidt

Good morning.

morning of the XXXX. XXXX this the results call quarter fourth ended conference will financial review for Our December XX,

we Securities remind provisions me conference call. XXXX begin, the this Before harbor safe applied you to of Reform Litigation that Private Act of the let

During of statements. forward-looking the this company remarks make various constitute the management's prospects expectations, that course concerning predictions, call, will plans and

projected factors, by of Actual those these SEC. statements filings results from may company's result of differ with as February in the a in those variety of XX including materially identified a the release various forward-looking news and other

You are the undertakes view company no current cautioned obligation to future. management's update that in forward-looking reflect revise and statements the statements only that or any such

non-GAAP these may and performance provided results including Chemed's and management today's call, taxes, discuss on available of before EBITDA in website amortization XX, company's or release addition, the at reconciliation during non-GAAP also earnings chemed.com. A dated results interest, February depreciation press which is is the EBITDA. operating adjusted In

to Westfall, our Executive of now Chief like Corporation; Chemed Officer Healthcare Witzeman, McNamara, and Officer of introduce Chief Chief would speakers Chemed Mike Kevin for Financial Chemed; Corporation subsidiary. of President Chairman I and and Nick today, Executive VITAS Officer

now turn McNamara. will I the call Kevin over to

Kevin McNamara

XXXX. strong Mike during the details. the then has Fourth fourth Conference additional its operating Call. XXXX then quarter, open Chemed Nick I up Quarter of Holley. with the questions. you, call Corporation's Welcome begin highlights morning. performance will quarter Thank for to Good will continued I will for with and follow

of equates totaled XX,XXX to same for X.X% during the a Admissions quarter XXXX. improvement which the period

acquisition quarter. an historically million census daily expanded by Our Covenant year closed on XXXX. metrics compared when average Health, ADC, XX, with April the was good were the $XX prior of impacted which increase of positively These X,XXX, XX.X% or

the the time Pasco the quarter, quarter accepted of projections its Early Florida, meeting patient. the Covenant the all Health financial acquisition of in that our of new end of fourth in internal acquisition. program County, at the Through and developed our is XXXX, first fourth were

the believe than program During the XX offers XXXX to an VITAS this slightly program. path for in We had exciting more admissions and Pasco growth quarter, VITAS beyond.

pleased Need is of We're opening for Florida. location, part but the is in of December, Marion the well also we awarded includes as opportunity Certificate very on community. retirement Ocala that growth was currently Marion new frame significant villages time a coming County, in a County believe VITAS as in years. there a working VITAS significant the for no

historical discuss will Mike XXXX detail, growth by assumes measures. continued average our As VITAS guidance in more above all

potential working mitigate Medicare growth associated tempered limitations will our by certain headwinds slightly that with to of However, cap programs. in be

Now the let's fourth turn a million quarter. generated XXXX, to year with of compared prior Roto-Rooter decrease the in quarter X.X% Roto-Rooter. when quarterly of $XXX revenue of

both in never income. quarter metrics did internal by or performance Roto-Rooter's net we're the for fourth X% The with exceed decline estimates satisfied While X%. between and revenue adjusted

Roto-Rooter's X% paying prior the calls while X.X%. year from volume be at near quarter. when rates commercial revenue highest declined increased was all-time compared continue levels. down Residential our Roto-Rooter to X% to Overall, or at to Conversion call revenue jobs

restoration. to continue For improve water our add-on for services, particularly our residential business, conversion rates

gain a XXXX during momentum begun in that our to have the course of restoration commercial increase branches in the branches quarter, Improvement X restoration. the many management those revenue initiatives X.X% water the Roto-Rooter water in major conversion business rates specific in rates lagging was quarter. for branches. discussed identified that The for cause During of conversion fourth fourth in had residential we've

on based renewed accounts process We our are each on from the focus at sales local business branch. key winning

initiative Our XXXX in business excavation of resulted increase issue cleaning cameras root momentum. work the in use drain with the positive cause has commercial sewer customers. an ended The through of related to review to commercial

are this XXXX. Roto-Rooter nice optimistic a springboard into business gives We

assumes business accelerates seen momentum residential with the Our XXXX XXXX business not the that that guidance assumes also commercial into XXXX. does Roto-Rooter's continue the in that deterioration

period To pace. demonstrated health of licensed an of summarize, has to in growth. This Two new strong the an continuing. a VITAS years. locations consistently few has growth at next the the ability and state opportunity for strong results translated at professionals nice Florida appropriate retain management VITAS are care over the hire extended of provide time

continued cautiously the has are conditions. Roto-Rooter optimistic difficult turned We some that corner operating despite

are Roto-Rooter awareness, in customer that centers response aggressive excellent terms its confident brand competitive Internet call XX/X advantages presence. of maintains time, We and core

I this to that, to teleconference would With Mike. like over turn

Michael Witzeman

revenue Thank of Kevin. the an average year million to care increase a increase primarily is days comprised which XXXX, X.X%. XX.X% revenue rate increase compared in XX.X% you, quarter of VITAS' geographically was This the prior $XXX net reimbursement is approximately in of and increase weighted a fourth of Medicare when period. of

prior contra shift impacted compared combination prior to Medicare the mix. XXX revenue the care mix revenue growth, negatively when year acuity of revenue and level The quarter The in basis and is Cap of points other growth day Average above of XXX revenue approximately the which patient points. points period. revenue was quarter per $XXX.XX XXXX and in increased by year the basis changes fourth basis XX

routine and Reimbursement averaged $XXX.XX home high $X,XXX.XX, care for acuity and respectively. care

care, of care XX of points prior of X.X% quarter, the were acuity days high the During when quarter. of to compared total basis a decline days year

margin and EBITDA positively VITAS's recur by This was XXX XXXX in XX.X%. basis the quarter, in quarter, XXXX EBITDA a XX.X%, by which million Cap, XXXX. margin rollover below was Medicare an $XX.X period. excluding totaled the is of points the Cap, basis XXX prior the EBITDA year Medicare not impacted points quarter fourth excluding change of increase positively adjusted change EBITDA, The onetime The impacted did policy. in vacation -- Adjusted in margin

income acquisition contributed $XX Covenant is to Health between in EBITDA to Covenant $XX of include This million to the $X.X The million net million. million. just the and million $X XXXX. financial of fourth approximately $X.X million quarter quarter Health to the revenue discussed in Covenant in results Adjusted revenue April. of attributed impact the Health $X.X translated of

revenue the period. Roto-Rooter to $XXX.X a from quarter branch totaled year Turning decrease in residential prior million, Roto-Rooter. of X% the

the of in Roto-Rooter million, X.X% totaled in $XX.X The decrease XXXX. EBITDA Roto-Rooter The represents decline XXXX the margin revenue the fourth commercial a quarter. quarter to XX.X%. adjusted compared EBITDA quarter branch prior Adjusted of a quarter fourth adjusted of increase million, in fourth an $XX.X EBITDA basis quarter point totaled of prior from at from quarter was year. year the the margin the X.X% XXX

estimated the XXXX adjusted prior discuss XXXX. Medicare to prior of to XX.X% Cap when Full let's EBITDA to be to compared to XX.X%. to adjusted is cap Cap This increase X.X% Medicare EBITDA XX.X% revenue Medicare VITAS is Now margin is to prior margin estimated to ADC XX.X%. X%. estimated to year to XX.X% XXXX guidance. the to increase compares

growth, are VITAS of high a limitation watermark We and XXXX EBITDA currently an of estimating margin. terms XXXX. growth Medicare cap for represented growth, EBITDA revenue ADC in $X.X in billing all-time million

admission on slight still The the increased covering significantly that a VITAS' Medicare average national moderation Medicare X maintaining XXXX average per historical Cap growth. period are the average guidance increase October reimbursement above assumes increases to was overall rate reimbursement weighted same levels growth, which X.X% X.X%. The protection received of those while rate increase. is

XXXX. programs point This our reduced XX basis both programs, of for point Medicare basis in XX and actual and average. The rate differential trailing average our the increase cap overall point Florida increase Cap program, the reimbursement our months in cushion including fiscal the has differential basis year exceeds between the projected Medicare XX certain the

of has high steps Medicare in growth in of slightly steps revenue X.X% to does X%. a ensure have Roto-Rooter the growth achieve expected forecasted not taken the management arise. necessary moderating VITAS all-time the to is seen to to are of XXXX level issue XXXX. These cap significant effect

management deterioration Kevin residential commercial in achieve expects while Roto-Rooter to the the sector the sector. growth continuing stopping this As revenue business further momentum in mentioned, by

from option the margin the in exercises, be year benefits costs XX.X%. XXXX of XXXX expected expense to noncash for to adjusted range range share be litigation XX.X%. estimated in is tax items, related to -- options, full stock This XX.X% diluted stock discrete compares this to to XXXX diluted EBITDA earnings $XX.XX upon of excluding earnings per and Roto-Rooter's of for the Roto-Rooter's to in margin full share, XXXX $XX.XX year Based other above, is of $XX.XX. per to EBITDA compares

weighted initiatives management's the trajectory second earnings is Roto-Rooter's is continue year expected XXXX year. and income Roto-Rooter The the revenue half improvement of business the accelerate. to to accelerate during associated as towards

growth year. second and the Medicare Roto-Rooter's was making beginning XXXX required comparisons cap prior discussed. and to EBITDA of Additionally, to margin of impacted rate differential difficult quarter the quarter the first impact previously adversely revenue the the of in quarter the initiatives moderate quarter, for by be the strongest will at Medicare VITAS' third Cap

an on for results diluted occurred of effective XXXX. rate acquisition, XX.X on assumes share tax adjusted mostly the impact which The quarter the the a shares. corporate of million guidance first by The be and of will VITAS Covenant XX% earnings XXXX in offset of count April

turn to Nick. now will call this I over

Nicholas Westfall

quarters. due average overall sequential XX,XXX. past the fourth In operating was to the the fourth expectations the emissions quarter in continue Thanks, XXXX. increase partially X.X% the the hurricanes were the to XXXX, generated with Mike. quarter. increase quarter year XX,XXX early has our VITAS was the XX.X% of years. of to fourth part total pleased XXXX, prior disruptions over census below daily the quarter. a performance compared overall period. to This last our in internal ADC growth was This I quarter the by This compared is our slightly of of X an VITAS be patients, caused of when very the performance few over In quarterly

with admissions encouraged the very was across X of quarter increased quarter, acceleration the location of In the the top regions. I X However, in admissions all types. preadmit sequential within

directed home-based X.X% our and expanded home admissions increased Our when admissions compared to hospital period. the nursing patient X.X%, prior X.X% increased year admissions

by assisted Admissions living facilities X%. declined for

days quarter compares of to Our 'XX. average in the length XXX.X of quarter fourth stay days. in the was XXX.X This

XXXX. XX fourth Our of median in length the in quarter days to was the quarter stay and of days compares XX

providing will these mentioned, hurricanes of late in X today win we be County, a experienced October Helen potential in Marion serve for significant X soon growth locations As believe Florida. to our entry and in territories are people Milton. the September Kevin our We the we with Southeastern future Pasco and VITAS. early and County Florida for services both in and excited is into

successfully and temporary a collective protocols our our providing I'm in referral to supported experienced team the another say volume, while we X enacted care and to While patients slowdown impacted emergency our exceptional communities. proud very response

needed As any both implemented to our XXXX. we in XXXX preparing to manage mentioned, points locations factor. programs. on Medicare increase above to we national Kevin emphasis strategies the exposure hospital-based strategy average, additional and proactive admissions component that the Cap primary have for increase this to going be to reinforce the helped only of Mike XX select Knowing our reimbursement was average this began The in manage basis successfully industry approach is to in

those shorter come the referrals growth growth key in provides revenue effect but lengths overall trajectory also disease additional in both and, result in margin hospital-based later has moderating of locations. This a stay. of and cap therefore, Generally, cushion patient's

rules, this Medicare the has quickly for to right sustainable company team to the growth. With To accomplished. what cap long-term the our recap do is ensure thing current

We net in X have and ADC. workers care of now growth licensed sequential generated XX quarters quarters sequential of growth in health

ability we providers patient successfully partner the possible care. also communities receive other continue to best to acquisitions with XXXX, through In to demonstrated integrate the ensure and

growth, As VITAS and revenue highs these efforts, all-time EBITDA growth a achieved EBITDA margin. ADC result in of growth,

performance. country briefly of celebrated focused delivering team families to our financial fulfilling our commitment accomplishments, across year our these continuing solid positively while we impacting the While on is and mission XX-plus patients

growth, to guidance, maintain about see As VITAS the average years. can ability historical optimistic from acquisitions both next our accretive above over organically are the and through XXXX you we few of

that, With over call like Kevin. back I'd this to to turn

Kevin McNamara

Thank Nick. questions. I open to you, will now teleconference this

Operator

the from Markets. comes Hendricks question RBC with Capital first our And Ben Instructions] of line [Operator

Unknown Analyst

our better This still is expectations. came on revenue for Michael XQ Well, It's Roto-Rooter year-over-year. X.X% than Murray in declined Ben.

Roto-Rooter do new X.X% to improvement revenue I what of wanted of in You're you guiding to just a the you growth X%. how hear attribute to much marketing to gives And agency. And switching confidence turnaround? to this

Kevin McNamara

the kind the guidance, first, obviously, say Well, of started we're look it. growth in when let year, Roto-Rooter. speaking, we're take strong because it's at Very in the midst a getting obviously, in support we for and -- that me of generally that, give how we is

are like time can drain strong else. December that business, is But not that's the and some time. where much Roto-Rooter with to core for usually from down and to when Roto-Rooter showing -- strongest just not January mask issues months but growth pretty I cleaning, it seems everything with sewer say

to aggressive. guidance do first is don't and I your the quarter initially I a ball for rest the and the question X to we first last start strongest, think the thought we no, think behind So behind because the up I X Roto-Rooter's it's answer was aggressive. guess fall the not We expected little ball of make year the it year. is,

much to cylinders pretty hitting point, all. not that's like look generally be we're this necessary. at most it Just Looks like the on doesn't of speaking, going

firm part the go with on I and do very Google say I largely a lot not I let sector. attribute good say issues it's very we're I'd which the regard. it's way but Google. long new it's was Google the I whatnot. much can't -- to early. smarter could -- It's with want call anything else going of not with to that go. that to Google the Now a initiatives we're your me partner attribute it's hour this though issues don't But to your an marketing how Mike, there's little into period not I drew of the question, tough. lot I new maybe away. mean firm. a on that? still pandemic second private I the and money equity to are still as talk a in competitive for about But of and And a mean

Michael Witzeman

add improvements even quarter, only along. is kart, quarter the intra-quarter think, during some as maybe the I even the would thing saw No, I we fourth metrics, some accelerating went

was December better November say and better was than October. November So than

So off start. has got as mentioned, Kevin 'XX good a to

saw improvement sequentially also We intra-quarter.

really for I And a is repeatable little commercial think more think which the And feel year-to-year basis business very comfortable the guidance. I than as comfortable creating residential with so we that we is on a maybe foundation feel XXXX. business, a this pretty strong

Unknown Analyst

Just switching to VITAS.

your share? acquisition year-over-year growth, there. And to guidance environment strong even accounting believe the for capturing You thoughts competitive year you I expect census does another wanted of do comps census covenant contemplate your hear in on the you're any Marion County.

Nicholas Westfall

incorporate last Let market. not we're the . the to able guidance in through in question of terms part me answer of time Marion the to first. The County, be census going in It's worked exact any XXXX. which for being does that enter still

it's for imagine. our at you driving As other I it much where day, capitalize new that stealing long-standing market-by-market, share game it much opportunities is of contributing off the which we've well great able but share execute continues continuing expectations in and for on the stealing each X growth, for as think to providers met relates we're how to of to we definitely and that plan of might very each only and executing to a all identify offering our through community. us years clinicians retain that maybe partners is it's of partners account-by-account it. to have X in out of a north to differentiated teams But end overall and of the to of facets there. of of the health been that to care the marketplace, And in families, operate. offer offering continue And while, markets the in and ability haven't high-quality battle, opportunity attract now, not those, so part on trying a patients for is differentiated but

Kevin McNamara

hospice to And demographics. the in Obviously, been my understand Florida. the has great state. Florida best always state only going perspective, is least to thing I it's would very that the preeminent on It's VITAS. add is from of is at what's VITAS important

adding over can growing. we staff. of just up the We're you last new get As years, We're CONs. pick to couple continue

-- almost in look results. well. is powerhouse like have everywhere Florida as it at Florida a it's tends best things to the -- the your else. mean and doing businesses, we on X of effect I good reported be state it's and that But very And

Nicholas Westfall

to the is complement comments news Kevin's good And as else everywhere well. is

see we formally our have discussing and market So good gives And in optimism we've 'XX and that into us put it's for guidance strong throughout every almost the been the growth . country. now beyond. what

Unknown Analyst

more any on How moving into Okay. about just repurchases are you guidance? forward? thinking just That's -- could allocation. repurchases your on I helpful. share capital one built sneak are If in share And

Kevin McNamara

guidance. not No on sort 'XX into out going don't those -- going share of don't sure the repurchases like fronts. in a It's forward. forecast that We how are things to either. We acquisitions built try build to we're is play

any that change, isn't have. share believe. we so we of in never don't And right. purchase The to way about I think don't going general, We build

the cash quarterly get swing. we We on might sheet, opportunity But -- the then in anytime on not changing We our is the as stock level seen that a have think free with overall our has when the we we are price bigger near fourth good intending maintaining with still a it the and philosophy interest quarter -- an with see take changed, balance I on there's cash the and term. will with opportunity maybe a of think, don't we repurchases. to And the think leverage. and dividend, share you shareholders that return programmatic X do to cash while to it's flow, basis some I

Operator

the of Joanna Our America. with next Bank question of comes Gajuk line from

Unknown Analyst

margin. My about question was Porter first VITAS Christian is This for Joanne. on

our decline to model margins XXXX were the guidance for So margins calls year-over-year. below solid, were and but they

I just margin So is double causing growing what when pressure line the was wondering top the digits. is

Nicholas Westfall

for something few cap for as the just record quarters high all-time an remarks at company. Christian, and we've about it's was think last of and a reminder, the XX.X% history included EBITDA talked Yes. prepared adjusted our the ex margin I in

Our new range basis. had been of XX.X% a XX.X%. on preliminary to We discussing

Just emissions to this to provide management performance growth to think as as from stay force effect pressure from factors to year tend well of top range that norm, top as on as that standpoint our managing Cap marginal of line that lengths marginal outsized such emphasis the as overall markets in historical volume hospital-based both shorter well any as all about Medicare in a to have both growth, select doesn't compared heavier us that the it change but line a you're growth led collective guidance. predictable

So it and market-by-market year move ensuring at a the the on looking have it on as we sustainable we go-forward a into really moderation of just basis. is basis next Medicare a business

Kevin McNamara

on summarizing And on But we're margin. me we stronger was this doing more growth needle is that best and It's constraints. changed. Medicare legal and let threading reiterating. VITAS these or just higher admits the the Yes, have of would to that say -- the got the extent the imitation existing even cap under

And we can if says, as make our money. much hospital-based won't enough admissions, is we as Nick goal get

less X% by in -- less negatively margin growth and the short Florida. in Our gives be impacted our that us will really of a from that, than term percentile

would it. to the of itself, exercise in trading nothing VITAS. itself business But a way constrain needle the underlying So do business growth that best it's is there's the

Unknown Analyst

will I like change to to up because will force for mix. that headwind the your you Medicare guys that on year follow the it just cap a wanted significant be seems

should wondering this was XXXX. assume we would that if I beyond headwind So continue

Nicholas Westfall

just categorize would it know as business normal don't headwind as hospice it I'd operations. of assumption. be I is part a think a it I fair if

The price a So is market-by-market what increase it it's year-by-year always basis. on phenomenon. on a compared to correlates overall market-by-market a

equivalent And came we're $X.X just is a year. guidance last we reminder, as the at with which effectively on our in Cap Medicare million in the limitation forecasting

to Cap is Medicare So in. ultimately there 'XX in XXXX where as anticipated it no compared to relates substantial liability differential came as

Kevin McNamara

patient mix, California It not high the driven but all very all by by reimbursement was rates.

Nicholas Westfall

at overall as what way an was level, But at in Christian, is protect Medicare a philosophical level the early comes 'XXs overall put that Medicare it growth the with mean a to was for it. the I and right. time the trust an formula experiment into That's fund. for cap along place

study current And able Medicare patients what trying to with that as to the rate says, and But Medicare hospice for day, of there counterproductive the at as of by for terms you're us here to that's you of a which awareness, access, other manage Fund quality cost was their cost a NOR that country, look stay. neither any there of counterintuitive every ever accordingly X unless families of continue the care rules the days well reimbursement early when XX% that revenue irrespective the of and earlier it than average greater greater nor reduction accomplish or in fund. per change as and combine becomes our means the the divide on total outlives to we're country. is greater We'll average, illustrates for in trust realm across months just you a of inside future. the and the provider of like are and original it total something If Trust XXX that recognize disease that sort revenue patient care patient's to Medicare prognosis

Kevin McNamara

We've XXXX. been in purchased managing Medicare cap we since VITAS the

a So wasn't little that, growth that sustainable and cushion for the that had new. is years access for our What we forever. Medicare rate would tell long not this ago, that his projecting maximize community to the a be X done probably more I performance, could Cap at we something growth program term, knew implemented but XXXX the Nick long-term isn't team we're looked maybe is that the but rate. you 'XX sustainable

opportunity than It's sustainable a sure took this to more long-term now radar. path. has to grow -- on been probably make And we need higher our -- an so quickly we we moderate is just where XXXX

Nicholas Westfall

a incorporated normal 'XX. in It's we that's part So headwind. as categorize business that of wouldn't

Kevin McNamara

looking beyond demographic question, Just in -- about CONs long you're term say, is year your next alleviate Florida new was going to the in and wonderful. thinking what counties getting just it's out populated great

Unknown Analyst

I X about in could quickly. If Roto really sneak question

Your comments. revenue guidance than better growth, prior which X% to assumes is X%

just And you to guys that the So what could if seasonality level. XXXX. us are I assuming wondering also, was remind of confidence grow that you gives to revenues that you're in going the

Kevin McNamara

start quarter. Right. want just saying part what in gives confidence And the fourth we as XXXX. of we don't of I us what clearly, the to by second is saw start the quarter first

-- Our numbers. going guidance see we blind to sales don't on we're we the not in what weekly willfully

weather. that to whole lead plumbing and a not down, a city to is lot confident very Hopefully, snow seasonality better so I that shut normal are So With conditions regard tends like That project the some much that. every to emergency we frozen see with pipes mean, time. of weather company cold that for issue. is there's work is what Roto-Rooter. not we -- but a more than what

weaker probably So maybe be in get very what quarter. will the to nice point, what improvement a against At think We in we're quarter, it quite quarter second the projecting to strong quarter no start And then don't basically quarter. much first being XXXX, comparing XXXX. fourth a we'll second And they're anticipate was the is reason results. as quarter you as the will be but first over busy on. that

fourth start, our what still even But go the there's is the as what year. anticipate is guess factor seasonality weather. of return comments, we we in through And we what the say you'd that colder I you in though a building get with again, quarter. comparison is positive said the our also good And

analysts the and to X quarter say multiply just second, quarter and want do multiple So comparisons positive the first I is fourth growing for we fourth -- we quarter, to Roto-Rooter. take guess, our by third what to don't the but see

Michael Witzeman

Yes. revenue, first absolute lower reasons dollars second fourth Historically, the than and just talked about. Kevin and always quarter are for the quarter the third quarter

projected what seasonality pretty is some comparatives is seasonality definitely is there but in, the normal we've to So just 'XX. built

Kevin McNamara

is comparisons. really I'd what not that, first at it's looking comparison a quarter, it. say on Easier based seeing even we're the we're as negative again,

dealer. through we So we comparisons go as see the much easier

Operator

And questions I'm no further showing this at time.

So McNamara remarks. that, over hand the closing Kevin any I'll for back with to CEO, call

Kevin McNamara

remarks it's no you. bought good closing doing Thank and I of both VITAS for results of the other Roto-Rooter the have with pandemic to we years, greater mean seesaw the last in to we're than couple companies. substantive say the have pleased reasons, I suffering. growth of then think to rates, switch think I we the normalized historic back we're getting I very both And a saw now we'll for to our is And what situation go solid. and been operating companies. back which

per mean period, Chemed income has a XX% is on I over CAGR a Net XX-year grown basis. over annum

attention. X to good So period it's your to thank But mean, for just I return normalcy. a reconvene you about in months, we'll and of with that, say we'll

Operator

program, thank now gentlemen, disconnect. today's This for you does you participating. and conclude and Ladies may

Chemed (CHE) 27 Feb 252024 Q4 Earnings call transcript