LHC Group Inc., a Lafayette-based home nursing firm, reported its first-quarter profit jumped to $7.7 million, or 44 cents per share, from $6.8 million, or 39 cents per share a year ago.
The company’s revenue climbed 15.3 percent to $222.6 million. LHC Chairman and Chief Executive Officer Keith G. Myers said the company improved its results despite Medicare payment cuts that reduced revenue by $1.5 million and earnings per share by 5 cents.
He attributed the increase in revenue to relatively balanced same-store growth and acquisitions.
LHC easily beat Wall Street’s expectations. Stock analysts surveyed by Zacks Investment Research forecast earnings of 37 cents per share.