Quote:
Originally Posted by ahnuld
looks like prsc hit it out of the park tonight. ill post a full update on the weekend after the conference call
Exactly my reaction as well.
High level:
Revenue up 8% with NET up 17% and Social services down 8%.
Earnings of $.49/share up from $.23/share LY and $.32/share consensus
Two biggest things that stuck out to me were EBITDA Rate and cash flow generation. EBITDA rate looks to have come in right around 6%, which is a 200bps improvement over last quarter and last year and rapidly approaching the 6.5% long term guidance that management has been messaging. Further, EBITDA $ were up 60%+ over last year to $16.8m.
Secondly, cash flow from operations for the quarter was $30m. I don't know what the expectation was for the quarter but considering that in all of 2012 they generated $42.5m in cashflow, this seems like a monster quarter any way you measure it. There were some massive good guys in their working capital metrics (Accts Receivable/Accts Payable) to the tune of around $20m, we'll have to get more detail on what is driving this.
I look forward to Ahnuld's thoughts...