Healthcare Services Group slips on downbeat Q4 profit

Healthcare Services

09/02/2022 13:08

** Shares of housekeeping and dining services provider
 HCSG.O  down 9.2% to $15 premarket, set for worst day since
mid-Oct 
    ** Q4 profit misses estimates hit by higher expenses due to
an increase in labor and supply costs  urn:newsml:reuters.com:*:nBw4Z1TDza
    ** However, Q4 revenue falls 0.6% to $420.4 mln, but tops
Street expectations of $417.03 mln
    ** HCSG misses adj. profit estimates for a third straight
quarter, per Refinitiv data
    ** Only one of 10 brokerages rates the stock "strong buy",
the rest 9 "hold"; their median PT is $20 - Refinitiv data
    ** As of last close, stock had fallen by 7.1% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))