The hits keep coming. Adeptus Health (NYSE: ADPT) , the nation's largest operator of freestanding emergency rooms, surprised investors yesterday after delaying the release of its quarterly earnings. That caused shares to drop 13.7% as investors fearing bad news scrambled for the exits. Those that stuck around are not being rewarded for their patience. The
The company reported a net loss of $11.7 million in the third quarter of 2016 due to a range of issues. Adeptus Health cited high fixed costs at non-hospital outpatient departments -- or emergency rooms that are not affiliated with a hospital -- in addition to collection issues and increased competition from hospital openings, as the culprits. Worse yet, the surprise loss occurred despite a 32% increase in quarterly revenue compared with the prior year.
The third-quarter loss...