Healthcare Services Group Inc
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Industrials : Commercial Services & Supplies | Small Cap Blend
Company profile

Healthcare Services Group, Inc. provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States. The Company operates through two segments: housekeeping, laundry, linen and other services (Housekeeping), and dietary department services (Dietary). Its housekeeping service involves the management of a client's housekeeping department, which is responsible for the cleaning, disinfecting and sanitizing resident rooms and common areas of a client's facility. Its dietary services consist of managing the client's dietary department, which is responsible for food purchasing, meal preparation and providing professional dietitian services, including the development of menus that meet the dietary needs of residents.


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Travelers expects Q2 loss due to high level of catastrophe claims caused by storms in the U.S.

7:12 am ET July 14, 2020 (MarketWatch)

The Travelers Cos. Inc. (TRV) said Tuesday it expects to report a net loss per share of 16 cents for the second quarter, weighed down by a high level of catastrophe losses, mostly stemming from severe storms in the U.S., along with claims related to social unrest. The New York-based insurer expects its adjusted per-share loss to come to 20 cents, compared with a FactSet consensus for earnings per share of $1.27. The company is expecting its catastrophe losses to total $854 million on a pretax basis, or $673 million after tax, net of reinsurance. The company is expecting net investment income of $268 million pretax, or $251 million after-tax, including $511 million from its fixed income portfolio and a loss of $234 million in the non-fixed income portfolio. That is equal to $438 million after-tax and $180 million after-tax respectively. The company is expecting the coronavirus pandemic to have a modest impact on its underwriting result. Insurance losses directly caused by the pandemic are expected to come to $114 million pretax. The company expects its subrogation recoveries relating to claims against PG&E Corp. (PCG) resulting from the wildfires that devastated parts of California in 2017 and 2017 to allow it to recognize favorable prior year reserve development of about $400 million pretax. The company will report second-quarter earnings on July 23. Shares fell 1.5% premarket and are down 16.6% in the year to date, while the Dow Jones Industrial Average has fallen 8.6% and the S&P 500 has fallen 2.3%.

-Ciara Linnane; 415-439-6400;

(END) Dow Jones Newswires

July 14, 2020 07:12 ET (11:12 GMT)

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