Gentiva profit beats estimates as home health unit revenue rises
(Reuters) - Gentiva Health Services Inc (GTIV.O) reported a better-than-expected adjusted profit, driven by higher revenue from its home health business, and raised its full-year adjusted income forecast.
Gentiva said it now expects full-year adjusted earnings of 95 cents to $1.15 per share, beating the average analyst expectation of 90 cents per share.
On an adjusted basis, Gentiva's net income attributable to shareholders rose to $13.9 million, or 38 cents per share, in the second quarter ended June 30, from $6.8 million, or 22 cents per share, a year earlier.
Revenue rose 20 percent to $498 million.
Analysts had expected adjusted earnings of 23 cents per share on revenue of $492.3 million, according to Thomson Reuters I/B/E/S.
(Reporting By Amrutha Penumudi; Editing by Simon Jennings)