December 20, 2014 3:09 PM ET

Healthcare Providers and Services

Company Overview of Res-Care Inc.

Company Overview

Res-Care, Inc. (ResCare), a human service company, provides residential, therapeutic, job training, and educational support services in the United States, Puerto Rico, and Canada. Its Residential Services segment offers disability, mental health/mental illness, acquired brain injury, youth residential, and rest assured services for individuals with cognitive, intellectual, and other developmental disabilities; and group homes, supported living, in-home, foster or companion care, and vocational and habilitation. The company’s ResCare HomeCare segment provides periodic in-home services, supported living, and skilled nursing to people of various ages, physical conditions, and cognitive abilitie...

9901 Linn Station Road

Louisville, KY 40223

United States

Founded in 1974

49,000 Employees

Phone:

502-394-2100

Key Executives for Res-Care Inc.

Chief Executive Officer
Age: 55
Chief Financial Officer
Age: 52
Chief Operating Officer
Age: 49
Chief Executive Officer of Arbor and Executive Vice President of Arbor's Eastern Division
Chief Business Services Officer
Compensation as of Fiscal Year 2014.

Res-Care Inc. Key Developments

ResCare to Redeem $200 million outstanding 10 3/4 Senior Notes Due January 15, 2019

On November 5, 2014, ResCare delivered notice for a full redemption of the $200 million outstanding 10 3/4 senior notes due January 15, 2019. The redemption date is December 29, 2014. The redemption amount is equal to the sum of the $200 million aggregate principal at a make-whole premium amount calculated within the terms of the related indenture, which is estimated to be 105.82 plus accrued and unpaid interest through the date of redemption. The company will finance the redemption with the delayed draw term loan and additional revolver borrowings from the credit facility that it amended in April 2014.

Res-Care Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Res-Care Inc. reported unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, revenue was $437.807 million against $409.934 million a year ago. Operating income was $19.602 million against $24.924 million a year ago. The increase in revenue is primarily due to acquisitions in Residential and HomeCare segments since the third quarter of 2013 and organic growth in all segments. Income before income taxes was $11.031 million against $16.784 million a year ago. Net income was $6.510 million against $11.334 million a year ago. The decrease is primarily attributable to lower operating results in ResCare HomeCare operating segment and higher legal costs. EBITDA was $4.521 million against $5.450 million a year ago. Adjusted EBITDA was $29.580 million against $34.557 million a year ago. Cash provided by operating activities was $15.976 million against $21.382 million a year ago. Purchases of property and equipment was $8.004 million against $6.795 million a year ago. For the nine months, revenue was $1,290.724 million against $1,195.621 million a year ago. Operating income was $55.644 million against $69.894 million a year ago. Income before income taxes was $29.840 million against $45.552 million a year ago. Net income was $17.473 million against $32.869 million a year ago. EBITDA was $83.133 million against $95.429 million a year ago. Adjusted EBITDA was $92.257 million against $97.805 million a year ago. Cash provided by operating activities was $60.716 million against $55.448 million a year ago. Purchases of property and equipment was $17.980 million against $15.007 million a year ago.

Res-Care Inc., Q3 2014 Earnings Call, Nov 11, 2014

Res-Care Inc., Q3 2014 Earnings Call, Nov 11, 2014

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