Home Care Contributes to ResCare Profit Growth

Stephen Tweed | May 11, 2007 | Newsroom
LOUISVILLE, Ky. — Res-Care Inc. is reaffirming a full-year profit outlook between $1.24 and $1.28 per share on projected revenue of $1.43 billion. In 2006, the company earned $1.11 per share on revenue of $1.3 billion.Chief Executive Ralph Gronefeld said the company's recent acquisition of Kelly Home Care Services bodes well for the company's future…

LOUISVILLE, Ky. — Res-Care Inc. is reaffirming a full-year profit outlook between $1.24 and $1.28 per share on projected revenue of $1.43 billion. In 2006, the company earned $1.11 per share on revenue of $1.3 billion.

Chief Executive Ralph Gronefeld said the company’s recent acquisition of Kelly Home Care Services bodes well for the company’s future earnings. “We expect that home care will continue to be a rapidly growing sector as demand increases with the aging of the American population.”

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Blogger’s note: Res-Care has become the largest consolidator of private duty home care companies in the country. Their Kelly acquisition is just the most recent in a series of purchases of non-medical home care companies. While the Private Duty Home Care sector remains highly fragmented, there are a few companies like Res-Care who are purchasing companies and growing their “company owned” locations.

Stephen Tweed
Stephen Tweed is among the top Thought Leaders in Home Care today. As an industry researcher, author, and executive coach, he has worked with owners and CEOs of companies in the top 5% of Home Care and is a frequent speaker at Home Care association conferences and corporate meetings across the US and Canada.

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