The raised guidance and VITAS's accelerating growth trajectory (ADC +6.1%, revenue +11.9%) with minimal Medicare Cap headwinds are the key catalysts. Traders should watch for continued share repurchases (10.5% share reduction over trailing 12 months) and monitor the July 29 conference call for further operational detail. The 17.8% YoY adjusted EPS growth implied by guidance midpoint supports further upside.
Price Chart
Executive Summary
Chemed reported Q2 2026 GAAP EPS of $5.13 (up 43.7% YoY) and revenue of $673.3M (up 8.8% YoY), beating consensus estimates of $5.60 EPS and $665.0M revenue by 0.9% and 1.2%, respectively. The beat was driven by VITAS's strong performance, with revenue up 11.9% and a sharp reduction in Medicare Cap billing limitations ($0.5M vs $16.4M last year). Guidance was raised meaningfully, with full-year adjusted EPS now $25.00-$25.75 (up from $24.00-$24.75), and VITAS ADC/revenue growth and EBITDA margin targets all revised upward, making this a clear bullish catalyst.
Key Financial Metrics
Key Facts
- Revenue $673.3M (+8.8% YoY) vs consensus $665.0M
- GAAP diluted EPS $5.13 (+43.7% YoY) vs consensus $5.60
- Adjusted diluted EPS $6.06 (+41.9% YoY)
- VITAS net revenue $443.3M (+11.9% YoY), ADC up 6.1% to 23,687
- Medicare Cap billing limitation dropped to $0.5M from $16.4M in Q2 2025
- Roto-Rooter revenue $229.9M (+3.3% YoY), EBITDA essentially flat
- Full-year adjusted EPS guidance raised to $25.00-$25.75 from $24.00-$24.75
- VITAS guidance raised: ADC growth 5.75%-6.25%, revenue growth ex-Medicare Cap 8.25%-9.25%, EBITDA margin 19.0%-19.5%
- Company repurchased 210,000 shares for $89.8M in Q2, $139.8M remaining authorization
- Cash $40.2M, long-term debt $140.0M, new $450M credit facility
Financial Impact
Revenue beat consensus by $8.3M (+1.2%); GAAP EPS beat consensus by $0.53 (+9.5%); adjusted EPS guidance midpoint raised by $1.00 (+4.1%)
Risk Factors
- Medicare Cap billing limitation of $7.0M still expected for full year 2026 across four provider numbers
- Roto-Rooter EBITDA margin declining 77 bps to 21.1% and revenue growth slowing to 3.3%
- High-acuity days-of-care declining 24 bps to 2.2% of total days, pressuring revenue per patient day
- Significant share repurchase activity ($287.5M YTD) reduces float but also depletes cash reserves
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3334743 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 24, 2026 5w ago | Insider Cluster | $541.34 $496.62 | ▼ −8.26% | ▼ −9.57% | $503.20 (−7.05%) |
Aug 4, 2026 8w ago | Insider Cluster | $539.72 $515.17 | ▼ −4.55% | ▼ −3.31% | $503.20 (−6.77%) |
Aug 4, 2026 8w ago | Insider Cluster | $539.72 $515.17 | ▼ −4.55% | ▼ −3.31% | $503.20 (−6.77%) |
Jul 28, 2026 9w ago | Press Release | $539.36 $548.56 | ▲ +1.71% | ▼ −3.31% | $503.20 (−6.70%) |
May 18, 2026 19w ago | Press Release | $441.62 $433.87 | ▼ −1.75% | ▼ −3.34% | $503.20 (+13.94%) |
May 1, 2026 22w ago | Insider Cluster | $422.16 $422.84 | ▲ +0.16% | ▼ −5.12% | $503.20 (+19.20%) |
Apr 23, 2026 23w ago | 8-K | $421.11 $441.55 | ▲ +4.85% | ▲ +0.83% | $503.20 (+19.49%) |
Apr 23, 2026 23w ago | Press Release | $421.11 $441.55 | ▲ +4.85% | ▲ +0.83% | $503.20 (+19.49%) |
Apr 13, 2026 24w ago | 8-K | $387.62 $421.43 | ▲ +8.72% | ▲ +0.99% | $503.20 (+29.82%) |
Feb 25, 2026 31w ago | 8-K | $396.63 $371.95 | ▼ −6.22% | ▲ +0.18% | $503.20 (+26.87%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access