CHE · 10-Q · 2026Q1 · Full report

Capital Return Program

CHEMED CORP · 2026-04-28 · Importance 79 · Surprise 66

During the period, treasury stock increased $201.1 million due to stock repurchases, reflecting a sizable use of cash for share repurchase activity. Management reports that net cash provided by operating activities increased $55.5 million year-over-year (March 31, 2026 vs. March 31, 2025) and continually evaluates cash utilization alternatives including share repurchase, debt repurchase, acquisitions and increased dividends. The Company states it anticipates that operating income and cash flows will be sufficient to operate the business and meet commitments for the foreseeable future. These disclosures indicate active capital return and deployment decisions are material to liquidity and capital structure.

Key facts

• Treasury stock increased $201.1 million from December 31, 2025 to March 31, 2026 due to stock repurchases
• Management continually evaluates cash utilization alternatives including share repurchase, debt repurchase, acquisitions and increased dividends
• Average number of shares outstanding used for diluted EPS for the three months ended March 31, 2026: 13,690
• Average number of shares outstanding used for diluted EPS for the three months ended March 31, 2025: 14,764

Impact estimates