Chemed Corp., a Cincinnati-based company that operates hospices and the plumbing service Roto-Rooter, reported a 10 percent increase in second quarter profit Thursday afternoon.
Chemed’s profit rose 10 percent from a year ago to $27 million, or $1.55 per share, in the three months that ended June 30. Sales rose 6 percent in the second quarter to $381.9 million.
The company operates two segments: VITAS, the nation’s largest provider of end-of-life care, and Roto-Rooter, the nation’s largest commercial and residential plumbing and draining service.
Profits at VITAS rose 4 percent to $21.8 million and sales rose 4.7 percent to $276 million in the second quarter. Meanwhile, Roto-Rooter profits jumped 13 percent from the comparable 2014 period to $12.1 million and sales rose nearly 10 percent to $105 million.
Chemed said Thursday it expects VITAS and Roto-Rooter to meet 2015 revenue growth expectations established earlier this year. VITAS revenue is expected to rise between 4 and 5 percent this year and Roto-Rooter revenue is expected to rise between 5 and 6 percent.
Read More: http://www.cincinnati.com/story/news/2015/07/23/roto-rooter-parent-chemed-reports-profit/30592169/