(NEW ORLEANS) – The Baton Rouge-based company Amedisys, Inc. reported a third-quarter profit of $8.4 million, or 26 cents per share, beating Wall Street analysts’ projections.
The Advocate’s Ted Griggs reports the home health giant’s shares rose to a three-year high Wednesday, as its stock briefly spiked by more than 19 percent before easing back.
According to Griggs, under Interim Chief Executive Officer Ronald A. Laborde and Interim Chief Financial Officer Dale Redman, Amedisys has cut costs, closed and consolidated poor-performing care centers, and strengthened patient admission and volume numbers.
The company went from 464 care centers and 14,300 employees at the end of 2013 to 401 centers and 13,400 employees as of Sept. 30. Amedisys slashed operating expenses by nearly 38 percent over the 12-month period, from $455.5 million to $284.0 million.
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