Public Companies

LHC Group’s second-quarter profits rise

by The Associated Press

LHC Group President/CEO Keith Myers
Photo by Robin May

Lafayette-based home health company LHC Group's second-quarter profit rose to $9.5 million, or 54 cents per share, compared with $9 million, or 51 cents per share, a year ago.

The increase came despite estimated Medicare reimbursement reductions of 7 cents per share during the second quarter. LHC also increased net service revenue by 12.9 percent to $226 million.

LHC's results beat Wall Street's expectations. In a news release, the company said stock analysts surveyed by Zacks Investment Research had forecast earnings of 53 cents per share.

LHC also raised its full-year guidance for 2016 for net service revenue to a range of $885 million to $900 million.