LifePoint Health, Inc. (LPNT) has reported an 177.31 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $59.90 million, or $1.46 a share in the quarter, compared with $21.60 million, or $0.48 a share for the same period last year. On an adjusted basis, earnings per share were at $1.07 for the quarter compared with $0.85 in the same period last year.
Revenue during the quarter grew 3.13 percent to $1,630.20 million from $1,580.70 million in the previous year period. Gross margin for the quarter expanded 15 basis points over the previous year period to 83.55 percent. Total expenses were 93.41 percent of quarterly revenues, down from 95.24 percent for the same period last year. This has led to an improvement of 183 basis points in operating margin to 6.59 percent.
Operating income for the quarter was $107.50 million, compared with $75.30 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $195.60 million compared with $161.60 million in the prior year period. At the same time, adjusted EBITDA margin improved 178 basis points in the quarter to 12 percent from 10.22 percent in the last year period.
Commenting on the results, William F. Carpenter III, chairman and chief executive officer of LifePoint Health, said, "We are pleased with our first quarter, in which we continued to see sequential volume improvement and margin expansion. Our efforts to integrate our recently acquired hospitals and the $2.3 billion of revenue that we have added over the last few years are on track," said William F. Carpenter III, chairman and chief executive officer of LifePoint Health. "We remain committed to our strategic priorities of delivering high-quality care and service, growth, cost management and the development of high-performing talent to drive value for our shareholders."
Operating cash flow improves marginally
LifePoint Health, Inc. has generated cash of $91.70 million from operating activities during the quarter, up 3.38 percent or $3 million, when compared with the last year period.
The company has spent $58.90 million cash to meet investing activities during the quarter as against cash outgo of $171.20 million in the last year period.
The company has spent $3.10 million cash to carry out financing activities during the quarter as against cash outgo of $14.50 million in the last year period.
Cash and cash equivalents stood at stood at $125.80 million as at Mar. 31, 2017.
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