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Lifepoint Health Reports Third Quarter 2015 Results

The following excerpt is from the company's SEC filing.

Third Quarter Adjusted EPS Increased by Approximately 29% Over Prior Year

Third Quarter Adjusted EBITDA Increased Approximately 11% Over Prior Year

BRENTWOOD, Tenn.--(BUSINESS WIRE)--October 30, 2015--LifePoint Health, Inc. (NASDAQ: LPNT) today announced results for the third quarter and nine months ended September 30, 2015.

For the third quarter ended September 30, 2015, consolidated revenues were $1,309.5 million, up 12.3% from $1,166.0 million for the same period a year ago. Adjusted EBITDA for the third quarter ended September 30 , 2015, increased 10.9% to $172.7 million compared with $155.7 million for the same period a year ago. Adjusted EBITDA for the third quarter of 2015 excludes an impairment charge of $2.2 million, or $0.03 per diluted share, related to the finalization of the net working capital settlement in connection with the divestiture of a hospital in Palatka, Florida, which was sold effective May 1, 2015. Additionally, Adjusted EBITDA for the third quarter of 2014 excludes an impairment charge of $12.2 million, or $0.16 per diluted share, for the write down of property, equipment and allocated goodwill in connection with the divestiture of a hospital in LaPlace, Louisiana, which was sold effective November 1, 2014. Including impairment charges in both periods, net income attributable to LifePoint Health, Inc. stockholders increased 58.4% to $43.6 million, or $0.94 per diluted share, compared with $27.5 million, or $0.59 per diluted share, for the same period a year ago.

For the first nine months of 2015, consolidated revenues were $3,843.6 million, up 19.4% from $3,220.2 million for the same period a year ago. Adjusted EBITDA for the nine months ended September 30, 2015, increased 13.3% to $521.5 million compared with $460.2 million for the same period a year ago. Adjusted EBITDA for the nine months ended September 30, 2015 and 2014, excludes total impairment charges of $13.8 million, or $0.19 loss per diluted share, and $12.2 million, or $0.16 loss per diluted share, respectively. Including impairment charges in both periods, net income attributable to LifePoint Health, Inc. stockholders for the first nine months of 2015 increased 24.3% to $128.9 million, or $2.79 per diluted share, compared with $103.7 million, or $2.20 per diluted share, for the same period a year ago.

“We are pleased with the quarter. Our operating discipline in a soft volume environment is clearly demonstrated in our results,” said William F. Carpenter III, chairman and chief executive officer of LifePoint Health. “We are excited about our acquisition strategy and the opportunity to expand margins in recently acquired hospitals. This and the significant capacity available in our balance sheet are among the factors that will allow us to continue driving shareholder value.”

A listen-only simulcast, as well as a 30-day replay, of LifePoint Health’s third quarter 2015 conference call will be available on line at

www.lifepointhealth.net/investor-relations

today, Friday, October 30, 2015, beginning at 10:00 a.m. Eastern Time.

LifePoint Health (NASDAQ: LPNT) is a leading healthcare company dedicated to Making Communities Healthier®. Through its subsidiaries, it provides quality inpatient, outpatient and post-acute services close to home. LifePoint owns and operates community hospitals, regional health systems, physician practices, outpatient centers, and post-acute facilities in 21 states. It is the sole community healthcare provider in the majority of the non-urban communities it serves. More information about the company can be found at

www.LifePointHealth.net

. All references to “LifePoint,” “LifePoint Health” or the “Company” used in this release refer to LifePoint Health, Inc. or its affiliates.

Important Legal Information.

Certain statements contained in this release are based on current management expectations and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to qualify for the safe harbor protections from liability provided by the Private Securities Litigation Reform Act of 1995. Numerous factors exist which may cause results to differ from these expectations. Many of the factors that will determine our future results are beyond our ability to control or predict with accuracy. Such forward-looking statements reflect the current expectations and beliefs of the management of LifePoint, are not guarantees of performance and are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ from those described in the forward-looking statements. These forward-looking statements may also be subject to other risk factors and uncertainties, including without limitation: (i) the effects related to the enactment and implementation of healthcare reform, the possible enactment of additional federal or state healthcare reforms and possible changes in healthcare reform laws and other federal, state or local laws or regulations affecting the healthcare industry including the timing of the implementation of reform; (ii) the extent to which states support increases, decreases or changes in Medicaid programs, implement healthcare exchanges or alter the provision of healthcare to state residents through regulation or otherwise; (iii) delays in receiving payments for services provided, reductions in Medicare or Medicaid payments (including increased recoveries made by Recovery Audit Contractors (RAC) and similar governmental agents), compared to the timing of expanded coverage; (iv) reductions in...


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