Baton Rouge-Based Amedisys Easily Beats Wall Street Forecast

BATON ROUGE (AP) — Amedisys Inc., a Baton Rouge-based home health and hospice company, increased its second-quarter earnings to $10.6 million, or 32 cents per share, from $7.6 million, or 24 cents a share, a year earlier.

         However, after adjusting for exit and restructuring costs, a federal class-action lawsuit involving overtime payments, and an unrealized gain on investment, Amedisys' second-quarter profit was $14.5 million, or 43 cents per share. A year earlier, Amedisys' adjusted profit came to $8 million, or 25 cents per share.

         Stock analysts surveyed by Zacks Investment Research had forecast earnings of 34 cents per share.

- Sponsors -

         The Advocate reports Amedisys spent $8 million during the second quarter to fight the lawsuit. Former and current employees claim the company violated federal law by refusing to pay overtime to home health workers.

         For more information

 

- Partner Content -

Entergy’s Energy Smart Program Brings Cost Conscious Innovation to New Orleans

Offering comprehensive energy efficiency at no cost to the consumer, Entergy’s Energy Smart program incentivizes Entergy New Orleans customers to perform energy-saving upgrades in...

 

 

Digital Sponsors / Become a Sponsor

Follow the issues, companies and people that matter most to business in New Orleans.

Email Newsletter

Sign up for our email newsletter