Healthcare Services Group leaps after Q1 results beat

Healthcare Services Group's HCSG.O shares up 24.3% to $11.70, after hitting over four-mth high earlier on Weds, as qtrly report pleases

HCSG shares on course for biggest one-day pct gain since 27.2% rise on Feb 14, 2024, which was their second largest advance on record. Stock's best day ever was ~29% advance in Mar, 2001

Bensalem, Pennsylvania-based provider of housekeeping, dining and dietary services early Weds said Q1 rev grew nearly 6% y/y to $447.7 mln, above LSEG estimate of $444.2 mln

Adj EPS in qtr of 23 cents was above analysts' estimate of 18 cents/sh profit

“First quarter revenue and cash flow were our best results in five years, and we have carried that positive momentum into the second quarter. New client wins drove our organic growth, collections exceeded revenue, and we continued to strengthen our balance sheet," CEO Ted Wahl said in the statement

Co reiterated mid-single-digit rev growth expectations for 2025

Of 5 analysts covering HCSG, 1 rates "buy", rest rate "hold" with median PT of $12.50, LSEG data shows

With move on the session, stock up nearly 1% YTD vs ~11.5% decline in the S&P 600 Commercial & Professional Services index .SPSMCCS