Chemed Corporation (NYSE:CHE) Q3 2022 Earnings Conference Call November 1, 2022 10:00 AM ET

Company Participants

Holley Schmidt - Assistant Controller

Kevin McNamara - President and CEO

Dave Williams - EVP and CFO

Nick Westfall - President and CEO, Chemed VITAS Healthcare Corporation Subsidiary

Conference Call Participants

Joanna Gajuk - Bank of America

Ben Hendrix - RBC Capital Markets

Operator

Good day, and thank you for standing by. Welcome to the Chemed Corporation's Third Quarter 2022 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Holley Schmidt. Please go ahead.

Holley Schmidt

Good morning. Our conference call this morning will review the financial results for the third quarter of 2022 ended September 30, 2022. Before we begin, let me remind you that the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 apply to this conference call. During the course of this call, the company will make various remarks concerning management's expectations, predictions, plans and prospects that constitute forward-looking statements. Actual results may differ materially from those projected by these forward-looking statements as a result of a variety of factors, including those identified in the company's news release of October 31 and in various other filings with the SEC.

You are cautioned that any forward-looking statements reflect management's current view only and that the company undertakes no obligation to revise or update such statements in the future. In addition, management may also discuss non-GAAP operating performance results during today's call, including earnings before interest, taxes, depreciation and amortization or EBITDA and adjusted EBITDA. A reconciliation of these non-GAAP results is provided in the company's press release dated October 31, which is available on the company's website at chemed.com.

I would now like to introduce our speakers for today, Kevin McNamara, President and Chief Executive Officer of Chemed Corporation; Dave Williams, Executive Vice President and Chief Financial Officer of Chemed; and Nick Westfall, President and Chief Executive Officer of Chemed's VITAS Healthcare Corporation Subsidiary.

I will now turn the call over to Kevin McNamara.

Kevin McNamara

Thank you, Holley. Good morning. Welcome to Chemed Corporation's third quarter 2022 conference call. I will begin with highlights for the quarter, and Dave and Nick will follow up with additional operating detail. I will then open up the call for questions.

Our third quarter 2022 operating results released last night reflect good earnings performance for VITAS and Roto-Rooter. Both operating segments financial results continue to exceed our internal estimates despite continued disruption from the pandemic. For VITAS, this disruption remains concentrated on the hiring and retention of licensed health care professionals.