LHC Group, Inc.

$LHCG

Капитализция: $5.1B

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Компания предоставляет пациентам постэкстренные медицинские услуги через агентства по уходу на дому, хосписы, агентства обслуживания на дому и на местном уровне, больницы для долгосрочной интенсивной терапии и инновационные медицинские сервисы. показать больше

По состоянию на 31 декабря 2018 года через стопроцентные дочерние предприятия и дочерние предприятия с мажоритарным участием, компания управляла 757 поставщиками услуг в 36 штатах континентальной части США. Оказывает услуги в рамках пяти сегментов: уход на дому, хоспис, домашний и местный уход, уход в учреждении и инновации в сфере здравоохранения. По состоянию на 31 декабря 2018 года у компании было 30 985 сотрудников, из которых 14 598 были штатными.

LHC Group, Inc., a health care provider, specializes in the post-acute continuum of care primarily for Medicare beneficiaries in the United States. The company's Home Health Services segment offers home nursing services, including wound care and dressing changes, cardiac rehabilitation, infusion therapy, pain management, pharmaceutical administration, skilled observation and assessment, and patient education medically-oriented social services and physical, occupational, and speech therapy services. Its Hospice Services segment provides pain and symptom management accompanied by palliative medication, emotional and spiritual support, inpatient and respite care, homemaker services, dietary counseling, family bereavement counseling, and social worker visits. The company's Home and Community-Based Services segment offers range of services, such as assistance with grooming, medication reminders, meal preparation, assistance with feeding, light housekeeping, respite care, transportation, and errand services to patients in their home or in a medical facility. Its Facility-Based Services segment serves patients suffering from respiratory failure, neuromuscular and cardiac disorders, non-healing wounds, renal disorders, cancer, head and neck injuries, and mental disorders, as well as treats patients diagnosed with musculoskeletal impairments and operates institutional pharmacy and other non-related facilities, nursing facilities, family health center, rural health clinic, and physician practice, as well as offers physical therapy services. The company's Healthcare Innovations (HCI) Services segment provides strategic health management services to accountable care organizations. As of December 31, 2020, it operated 537 home health services locations, 120 hospice locations, 124 community-based service locations, 11 long-term acute care hospitals with 12 locations, and 12 HCI locations. The company was founded in 1994 and is based in Lafayette, Louisiana.

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Отчетность

03.11.2021, 23:08 EPS за 3 квартал составил ХХ, консенсус YY

04.08.2021, 23:12 Прибыль на акцию за 2 квартал XX, консенсус-прогноз YY

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LHC Group announces first quarter 2022 financial results

LHC Group объявляет финансовые результаты за первый квартал 2022 года

4 мая 2022 г.

LAFAYETTE, La., May 4, 2022 /PRNewswire/ -- LHC Group, Inc. (NASDAQ: LHCG) announced its financial results for the quarter ended March 31, 2022.

First Quarter 2022 Financial Results

Net service revenue increased 8.9% to $571.5 million.
Adjusted net revenue was $575.5 million
Net income attributable to LHC Group's common stockholders was $19.5 million, or $0.64 per diluted share.
Adjusted net income attributable to LHC Group's common stockholders was $33.4 million, or $1.09 adjusted earnings per diluted share.
Adjusted EBITDA was $54.5 million.

A reconciliation of all non-GAAP financial results in this release appears on pages 9-10.

LHC GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except share data)
(Unaudited)

	March 31, 2022	December 31, 2021
ASSETS
Current assets:
Cash	$ 7,680	$ 9,809
Receivables:
Patient accounts receivable	376,968	348,820
Other receivables	11,219	13,780
Total receivables	388,187	362,600
Prepaid taxes	13,195	—
Prepaid income taxes	19,004	7,531
Prepaid expenses	22,636	28,401
Other current assets	34,538	24,801
Total current assets	485,240	433,142
Property, building and equipment, net of accumulated depreciation of $101,643 and $98,394, respectively	156,673	153,959
Goodwill	1,747,504	1,748,426
Intangible assets, net of accumulated amortization of $20,772 and $19,152, respectively	397,973	400,002
Operating lease right of use asset	111,954	113,399
Other assets	44,196	46,693
Total assets	$ 2,943,540	$ 2,895,621
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and other accrued liabilities	$ 103,151	$ 98,118
Salaries, wages, and benefits payable	86,049	100,532
Self-insurance reserves	41,331	33,784
Contract liabilities - deferred revenue	43,922	106,489
Current operating lease payable	37,633	37,630
Amounts due to governmental entities	4,475	5,447
Current liabilities - deferred employer payroll tax	26,790	26,790
Total current liabilities	343,351	408,790
Deferred income taxes	76,749	70,026
Income taxes payable	7,537	7,320
Revolving credit facility	773,270	661,197
Long-term operating lease liabilities	77,287	78,688
Total liabilities	1,278,194	1,226,021
Noncontrolling interest — redeemable	17,539	17,501
Commitments and contingencies
Stockholders' equity:
LHC Group, Inc. stockholders' equity:
Preferred stock – $0.01 par value; 5,000,000 shares authorized; none issued or outstanding	—	—
Common stock — $0.01 par value; 60,000,000 shares authorized; 36,687,528 and 36,549,524 shares issued, and 30,558,774 and 30,634,414 shares outstanding, respectively	367	365
Treasury stock — 6,128,754 and 5,915,110 shares at cost, respectively	(193,470)	(164,790)
Additional paid-in capital	984,784	979,642
Retained earnings	770,479	751,025
Total LHC Group, Inc. stockholders' equity	1,562,160	1,566,242
Noncontrolling interest — non-redeemable	85,647	85,857
Total stockholders' equity	1,647,807	1,652,099
Total liabilities and stockholders' equity	$ 2,943,540	$ 2,895,621

LHC GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
(Unaudited)

	Three Months Ended March 31,
	2022	2021
Operating activities:
Net income	$ 24,979	$ 41,433
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	5,617	4,999
Amortization of operating lease right of use asset	10,128	8,918
Stock-based compensation expense	4,376	3,513
Deferred income taxes	6,723	7,717
Loss on disposal of assets	155	31
Impairment of intangibles and other	1,229	177
Changes in operating assets and liabilities, net of acquisitions:
Receivables	(25,538)	(28,805)
Prepaid expenses	5,765	(3,980)
Other assets	(7,192)	1,627
Prepaid income taxes	(11,473)	—
Prepaid taxes	(13,195)	—
Accounts payable and accrued expenses	10,602	(2,894)
Salaries, wages, and benefits payable	(6,936)	20,451
Contract liabilities - deferred revenue	(62,567)	—
Operating lease liabilities	(10,046)	(8,925)
Income taxes payable	217	1,119
Net amounts due to/from governmental entities	2,200	(575)
Net cash (used in) provided by operating activities	(64,956)	44,806
Investing activities:
Purchases of property, building and equipment	(6,442)	(4,849)
Proceeds from sale of property, building and equipment	—	45
Proceeds from sale of an entity	—	200
Minority interest investments	(100)	—
Net cash used in investing activities	(6,542)	(4,604)
Financing activities:
Proceeds from line of credit	374,428	—
Payments on line of credit	(262,355)	(20,000)
Proceeds from employee stock purchase plan	698	649
Payments on repurchasing common stock	(34,565)	—
Noncontrolling interest distributions	(5,697)	(5,704)
Withholding taxes paid on stock-based compensation	(3,140)	(9,541)
Purchase of additional controlling interest	—	(142)
Sale of noncontrolling interest	—	284
Net cash provided by (used in) financing activities	69,369	(34,454)
Change in cash	(2,129)	5,748
Cash at beginning of period	9,809	286,569
Cash at end of period	$ 7,680	$ 292,317

Non-Cash Financing Activity:
Supplemental disclosures of cash flow information:
Interest paid	$ 3,519	$ 495
Income taxes paid	$ 10,944	$ 621
Non-Cash Operating Activity:
Operating right of use assets in exchange for lease obligations	$ 9,371	$ 11,748
Reduction to right of use assets and liabilities	$ (688)	$ —
Non-Cash Investing Activity:
Net working capital adjustment	$ (102)	$ —
Accrued capital expenditures	$ 372	$ 1,973

ЛАФАЙЕТ, Лос-Анджелес, 4 мая 2022 г. /PRNewswire/ -- LHC Group, Inc. (NASDAQ: LHCG) объявила о своих финансовых результатах за квартал, закончившийся 31 марта 2022 года.

Финансовые результаты за Первый квартал 2022 года

Чистая выручка от услуг увеличилась на 8,9% и составила 571,5 млн долларов.
Скорректированная чистая выручка составила 575,5 млн долларов
Чистая прибыль, причитающаяся держателям обыкновенных акций LHC Group, составила $19,5 млн, или $0,64 на разводненную акцию.
Скорректированная чистая прибыль, приходящаяся на обыкновенных акционеров LHC Group, составила $33,4 млн, или $1,09 скорректированной прибыли на разводненную акцию.
Скорректированная EBITDA составила 54,5 миллиона долларов.

Сверка всех финансовых результатов, не относящихся к GAAP, в этом выпуске приведена на страницах 9-10.

Заявления прогнозного характера В этом пресс-релизе содержатся "заявления прогнозного характера" (как определено в Законе о реформе судебных разбирательств по ценным бумагам 1995 года), касающиеся, среди прочего, будущих событий или будущих финансовых показателей Компании, или сроков или ожидаемых выгод от предстоящего приобретения Компании UnitedHealth Group Incorporated. Такие слова, как "предвидеть", "ожидать", "проектировать", "намереваться", "полагать", "будет", "оценки", "может", "мог бы", "должен", а также слова и термины аналогичного содержания, используемые в связи с любым обсуждением будущих планов, действий или события определяют прогнозные заявления. Прогнозные заявления основаны на информации, имеющейся в настоящее время в распоряжении Компании, и включают оценки, ожидания и прогнозы. Инвесторы предупреждаются о том, что все такие прогнозные заявления подвержены рискам и неопределенностям, и важные факторы могут привести к тому, что фактические события или результаты могут существенно отличаться от тех, которые указаны в таких прогнозных заявлениях. Эти риски, неопределенности и другие факторы включают, но не ограничиваются ими, те, которые обсуждались и описаны в нашем последнем Годовом отчете по Форме 10-K, включая риски, описанные в Части I, пункт 1A. Факторы риска, а также в других отчетах, поданных нами впоследствии в Комиссию по ценным бумагам и биржам, и в отношении предстоящего приобретения Компании UnitedHealth Group Incorporated, включают, но не ограничиваются ими, те, которые обсуждались в предварительном доверенном заявлении, поданном Компанией в SEC 29 апреля, 2021 год. Все заявления прогнозного характера, включенные в этот документ, основаны на информации, доступной нам на дату настоящего документа, и Компания не берет на себя никаких обязательств по обновлению любых таких заявлений прогнозного характера для отражения будущих событий или обстоятельств, за исключением случаев, предусмотренных законом.

LHC Group, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except share data)
(Unaudited)

	March 31, 2022	December 31, 2021
ASSETS
Current assets:
Cash	$ 7,680	$ 9,809
Receivables:
Patient accounts receivable	376,968	348,820
Other receivables	11,219	13,780
Total receivables	388,187	362,600
Prepaid taxes	13,195	—
Prepaid income taxes	19,004	7,531
Prepaid expenses	22,636	28,401
Other current assets	34,538	24,801
Total current assets	485,240	433,142
Property, building and equipment, net of accumulated depreciation of $101,643 and $98,394, respectively	156,673	153,959
Goodwill	1,747,504	1,748,426
Intangible assets, net of accumulated amortization of $20,772 and $19,152, respectively	397,973	400,002
Operating lease right of use asset	111,954	113,399
Other assets	44,196	46,693
Total assets	$ 2,943,540	$ 2,895,621
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and other accrued liabilities	$ 103,151	$ 98,118
Salaries, wages, and benefits payable	86,049	100,532
Self-insurance reserves	41,331	33,784
Contract liabilities - deferred revenue	43,922	106,489
Current operating lease payable	37,633	37,630
Amounts due to governmental entities	4,475	5,447
Current liabilities - deferred employer payroll tax	26,790	26,790
Total current liabilities	343,351	408,790
Deferred income taxes	76,749	70,026
Income taxes payable	7,537	7,320
Revolving credit facility	773,270	661,197
Long-term operating lease liabilities	77,287	78,688
Total liabilities	1,278,194	1,226,021
Noncontrolling interest — redeemable	17,539	17,501
Commitments and contingencies
Stockholders' equity:
LHC Group, Inc. stockholders' equity:
Preferred stock – $0.01 par value; 5,000,000 shares authorized; none issued or outstanding	—	—
Common stock — $0.01 par value; 60,000,000 shares authorized; 36,687,528 and 36,549,524 shares issued, and 30,558,774 and 30,634,414 shares outstanding, respectively	367	365
Treasury stock — 6,128,754 and 5,915,110 shares at cost, respectively	(193,470)	(164,790)
Additional paid-in capital	984,784	979,642
Retained earnings	770,479	751,025
Total LHC Group, Inc. stockholders' equity	1,562,160	1,566,242
Noncontrolling interest — non-redeemable	85,647	85,857
Total stockholders' equity	1,647,807	1,652,099
Total liabilities and stockholders' equity	$ 2,943,540	$ 2,895,621

LHC GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
(Unaudited)

	Three Months Ended March 31,
	2022	2021
Operating activities:
Net income	$ 24,979	$ 41,433
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	5,617	4,999
Amortization of operating lease right of use asset	10,128	8,918
Stock-based compensation expense	4,376	3,513
Deferred income taxes	6,723	7,717
Loss on disposal of assets	155	31
Impairment of intangibles and other	1,229	177
Changes in operating assets and liabilities, net of acquisitions:
Receivables	(25,538)	(28,805)
Prepaid expenses	5,765	(3,980)
Other assets	(7,192)	1,627
Prepaid income taxes	(11,473)	—
Prepaid taxes	(13,195)	—
Accounts payable and accrued expenses	10,602	(2,894)
Salaries, wages, and benefits payable	(6,936)	20,451
Contract liabilities - deferred revenue	(62,567)	—
Operating lease liabilities	(10,046)	(8,925)
Income taxes payable	217	1,119
Net amounts due to/from governmental entities	2,200	(575)
Net cash (used in) provided by operating activities	(64,956)	44,806
Investing activities:
Purchases of property, building and equipment	(6,442)	(4,849)
Proceeds from sale of property, building and equipment	—	45
Proceeds from sale of an entity	—	200
Minority interest investments	(100)	—
Net cash used in investing activities	(6,542)	(4,604)
Financing activities:
Proceeds from line of credit	374,428	—
Payments on line of credit	(262,355)	(20,000)
Proceeds from employee stock purchase plan	698	649
Payments on repurchasing common stock	(34,565)	—
Noncontrolling interest distributions	(5,697)	(5,704)
Withholding taxes paid on stock-based compensation	(3,140)	(9,541)
Purchase of additional controlling interest	—	(142)
Sale of noncontrolling interest	—	284
Net cash provided by (used in) financing activities	69,369	(34,454)
Change in cash	(2,129)	5,748
Cash at beginning of period	9,809	286,569
Cash at end of period	$ 7,680	$ 292,317

Non-Cash Financing Activity:
Supplemental disclosures of cash flow information:
Interest paid	$ 3,519	$ 495
Income taxes paid	$ 10,944	$ 621
Non-Cash Operating Activity:
Operating right of use assets in exchange for lease obligations	$ 9,371	$ 11,748
Reduction to right of use assets and liabilities	$ (688)	$ —
Non-Cash Investing Activity:
Net working capital adjustment	$ (102)	$ —
Accrued capital expenditures	$ 372	$ 1,973

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Другие новости компании LHC Group

29.03.2022, 14:01 МСК Optum and LHC Group to Combine, Advancing Abilities to Extend Value-Based Care into Patients’ Homes EDEN PRAIRIE, Minn. & LAFAYETTE, La.--(BUSINESS WIRE)--Optum, a diversified health services company, and LHC Group (NASDAQ: LHCG), a national patient-focused provider of high-quality in-home health care services, have agreed to combine to further strengthen their shared ability to advance value-based care, especially in the comfort of a patient’s own home. The agreement calls for the acquisition of LHC Group’s outstanding common stock for $170 per share.Optum и LHC Group объединятся, расширяя возможности для расширения услуг, основанных на ценностях, на дому у пациентов EDEN PRAIRIE, Minn. & LAFAYETTE, La. – (BUSINESS WIRE) – Optum, диверсифицированная компания, предоставляющая медицинские услуги, и LHC Group (NASDAQ: LHCG), национальный поставщик высококачественных медицинских услуг на дому, ориентированный на пациента. , согласились объединиться, чтобы еще больше укрепить свою общую способность продвигать ценностно-ориентированную помощь, особенно в комфортной обстановке собственного дома пациента. Соглашение предусматривает приобретение находящихся в обращении обыкновенных акций LHC Group по цене 170 долларов США за акцию.

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14.03.2022, 14:19 МСК LHC Group to present at investor conferences in March LAFAYETTE, La., March 14, 2022 /PRNewswire/ -- LHC Group, Inc. (NASDAQ: LHCG) announced today that the Company is presenting at two upcoming investor conferences in March. LHC Group выступит на конференциях инвесторов в марте ЛАФАЙЕТТ, Луизиана, 14 марта 2022 г. /PRNewswire/ -- Компания LHC Group, Inc. (NASDAQ: LHCG) объявила сегодня о том, что компания примет участие в двух предстоящих в марте конференциях для инвесторов.

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03.03.2022, 15:00 МСК LHC Group to present at Cowen 42nd Annual Healthcare Conference LAFAYETTE, La., March 3, 2022 /PRNewswire/ -- LHC Group, Inc. (NASDAQ: LHCG) announced today that the Company is presenting at the Cowen 42nd Annual Healthcare Conference on Tuesday, March 8 at 2:50 p.m. Eastern time. LHC Group выступит на 42-й ежегодной конференции по здравоохранению в Коуэне ЛАФАЙЕТТ, Луизиана, 3 марта 2022 г. /PRNewswire/ -- Компания LHC Group, Inc. (NASDAQ: LHCG) объявила сегодня о том, что компания выступит на 42-й ежегодной конференции по здравоохранению в Коуэне, которая состоится во вторник, 8 марта, в 14:50 по восточному времени.

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LHC GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands, except per share data)
(Unaudited)

	Three Months Ended March 31,
	2022	2021
Net service revenue	$ 571,495	$ 524,835
Cost of service revenue (excluding depreciation and amortization)	350,388	310,272
Gross margin	221,107	214,563
General and administrative expenses	184,359	163,249
Impairment of intangibles and other	1,229	177
Operating income	35,519	51,137
Interest expense	(4,171)	(263)
Income before income taxes and noncontrolling interest	31,348	50,874
Income tax expense	6,369	9,441
Net income	24,979	41,433
Less net income attributable to noncontrolling interests	5,525	6,774
Net income attributable to LHC Group, Inc.'s common stockholders	$ 19,454	$ 34,659

Earnings per share:
Basic	$ 0.64	$ 1.11
Diluted	$ 0.64	$ 1.10
Weighted average shares outstanding:
Basic	30,478	31,165
Diluted	30,603	31,432

LHC GROUP, INC. AND SUBSIDIARIES
SEGMENT INFORMATION
(Amounts in thousands)
(Unaudited)

	Three Months Ended March 31, 2022
	Home health services	Hospice services	Home and community- based services	Facility- based services	HCI	Total
Net service revenue	$ 387,892	$ 101,906	$ 44,340	$ 32,139	$ 5,218	$ 571,495
Cost of service revenue (excluding depreciation and amortization)	228,207	66,065	28,955	24,205	2,956	350,388
General and administrative expenses	126,807	31,345	11,418	11,428	3,361	184,359
Impairment of intangibles and other	449	726	54	—	—	1,229
Operating income (loss)	32,429	3,770	3,913	(3,494)	(1,099)	35,519
Interest expense	(2,970)	(498)	(413)	(208)	(82)	(4,171)
Income (loss) before income taxes and noncontrolling interest	29,459	3,272	3,500	(3,702)	(1,181)	31,348
Income tax expense (benefit)	4,769	596	2,258	(962)	(292)	6,369
Net income (loss)	24,690	2,676	1,242	(2,740)	(889)	24,979
Less net income (loss) attributable to noncontrolling interests	4,596	680	85	171	(7)	5,525
Net income (loss) attributable to LHC Group, Inc.'s common stockholder	$ 20,094	$ 1,996	$ 1,157	$ (2,911)	$ (882)	$ 19,454
Total assets	$ 1,756,250	$ 803,004	$ 240,195	$ 80,831	$ 63,260	$ 2,943,540

LHC GROUP, INC. AND SUBSIDIARIES
SEGMENT INFORMATION
(Amounts in thousands)
(Unaudited)

	Three Months Ended March 31, 2021
	Home health services	Hospice services	Home and community- based services	Facility- based services	HCI	Total
Net service revenue	$ 373,828	$ 62,734	$ 49,125	$ 33,369	$ 5,779	$ 524,835
Cost of service revenue (excluding depreciation and amortization)	212,373	38,570	34,872	21,175	3,282	310,272
General and administrative expenses	119,397	18,127	11,529	11,257	2,939	163,249
Impairment of intangibles and other	177	—	—	—	—	177
Operating income (loss)	41,881	6,037	2,724	937	(442)	51,137
Interest expense	(182)	(36)	(24)	(14)	(7)	(263)
Income (loss) before income taxes and noncontrolling interest	41,699	6,001	2,700	923	(449)	50,874
Income tax expense (benefit)	7,890	1,067	518	57	(91)	9,441
Net income (loss)	33,809	4,934	2,182	866	(358)	41,433
Less net income (loss) attributable to noncontrolling interests	4,849	1,015	279	657	(26)	6,774
Net income (loss) attributable to LHC Group, Inc.'s common stockholders	$ 28,960	$ 3,919	$ 1,903	$ 209	$ (332)	$ 34,659
Total assets	$ 1,785,486	$ 308,009	$ 262,538	$ 97,692	$ 69,129	$ 2,522,854

LHC GROUP, INC. AND SUBSIDIARIES
SELECT CONSOLIDATED KEY STATISTICAL AND FINANCIAL DATA
(Unaudited)

	Three Months Ended March 31,
Key Data:	2022			2021
*Home Health Services:*
Locations	546			531
Total new admissions	113,122			107,922
Episodic new admissions	68,154			67,392
Average daily census	85,347			83,938
Average episodic daily census	53,278			54,597
Completed episodes	100,527			101,736
Average reimbursement per completed episodes	$	2,934		$	2,856
Total visits	2,118,072			2,057,632
Total episodic visits	1,287,101			1,288,653
Average visits per episodes	12.8			12.7
Organic growth: (1)
Revenue	0.6		%	3.1		%
Episodic revenue	(1.8)		%	1.4		%
Total new admissions	1.6		%	(0.4)		%
Episodic new admissions	(2.4)		%	(4.3)		%
Average daily census	(0.8)		%	10.1		%
Average episodic daily census	(5.0)		%	3.5		%
Completed episodes	(3.2)		%	(0.7)		%

*Hospice Services:*
Locations	169			120
Admissions	8,376			5,451
Average daily census	7,065			4,411
Patient days	635,821			396,974
Average revenue per patient day	$	163.04		$	161.88
Organic growth: (1)
Total new admissions	4.0		%	7.5		%

*Home and Community-Based Services:*
Locations	135			129
Average daily census	12,079			13,711
Billable hours	1,673,692			1,901,281
Revenue per billable hour	$	27.15		$	26.04

*Facility-Based Services:*
Long-term Acute Care
Locations	12			12
Average revenue per patient day	$	1,449		$	1,518
Average Daily Census	228			235

RECONCILIATION OF ADJUSTED NET INCOME ATTRIBUTABLE TO LHC GROUP, INC.
(Amounts in thousands)
(Unaudited)

	Three Months Ended March 31,
	2022		2021
Net income attributable to LHC Group, Inc.'s common stockholders	$	19,454	$	34,659
Add (net of tax):
Acquisition, de novo and legal expenses ⁽¹⁾	3,019		—
Closures/relocations/consolidations ⁽²⁾	2,132		131
COVID-19 impact:
PPE, supplies and wages ⁽³⁾	—		8,852
ERP implementation⁽⁴⁾	1,692		—
Cost improvement initiatives ⁽⁵⁾	3,642		—
Cost report and contract settlements ⁽⁶⁾	3,498		—
Adjusted net income attributable to LHC Group, Inc.'s common stockholders	$	33,437	$	43,642


(1)	Organic growth is calculated as the sum of same store plus de novo for the period divided by total from the same period in the prior year.


1.	Expenses and other costs associated with recently announced or completed acquisitions, de novos and the pending acquisition by UnitedHealth Group. ($4.1 million pre-tax in the three months ended March 31, 2022).
2.	Loss on the sale of an asset and other expenses associated with a closure or consolidation, including impairment ($2.9 million pre-tax in the three months ended March 31, 2022); expenses associated with the impairment on a closed home health location which occurred in the first quarter of 2021($0.2 million pre-tax in the three months ended March 31, 2021).
3.	COVID-19 related expenses for purchases of personal protective equipment (PPE), supplies and wage adjustments (No adjustments were made in the three months ended March 31, 2022; $12.0 million pre-tax in the three months ended March 31, 2021).
4.	Expenses and other costs associated with the implementation of an Enterprise Resource Planning software ($2.3 million pre-tax in the three months ended March 31, 2022).
5.	Expenses associated with cost improvement initiatives implemented in the first quarter of 2022, which consisted of contract terminations and general and administrative cost reductions ($4.9 million pre-tax in the three months ended March 31, 2022).
6.	Expenses associated with a 2004 cost report settlement along with other disputed contract settlements ($4.7 million pre-tax in the three months ended March 31, 2022).

Contact:	Eric Elliott
	Senior Vice President of Finance
	(337) 233-1307
	[email protected]


(1)	Organic growth is calculated as the sum of same store plus de novo for the period divided by total from the same period in the prior year.