LifePoint Hospitals Reports Second Quarter 2014 Results
LifePoint Hospitals, Inc.Leif Murphy, 615-920-7664Executive Vice President andChief Financial Officer
LifePoint Hospitals, Inc. (NASDAQ: LPNT) today announced results for the second quarter and six months ended June 30, 2014.
For the second quarter ended June 30, 2014, revenues from continuing operations were $1,047.0 million, up 17.0% from $894.9 million for the same period a year ago. Adjusted EBITDA for the second quarter ended June 30, 2014, increased 35.8% to $158.7 million compared with $116.8 million for the same period a year ago. Income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders for the second quarter ended June 30, 2014, increased 44.3% to $39.1 million, or $0.84 per diluted share, compared with $27.1 million, or $0.57 per diluted share, for the same period a year ago.
For the first half of 2014, revenues from continuing operations were $2,054.2 million, up 12.5% from $1,826.0 million for the same period a year ago. Adjusted EBITDA for the six months ended June 30, 2014, increased 19.8% to $304.5 million compared with $254.2 million for the same period a year ago. Income from continuing operations attributable to LifePoint Hospitals, Inc. stockholders for the second quarter ended June 30, 2014, increased 28.3% to $76.2 million, or $1.61 per diluted share, compared with $59.4 million, or $1.25 per diluted share, for the same period a year ago.
“We are pleased with our strong financial results for the second quarter and first half of 2014,” said William F. Carpenter III, chairman and chief executive officer of LifePoint Hospitals. “Our results reflect improving margins, enhancements to patient safety and quality of care, the strength of our recent acquisitions, and our successful efforts to capture the benefits of expanded coverage under healthcare reform. As a result of these factors, we are raising our guidance for the remainder of the year. I want to thank our physician leaders and the thousands of LifePoint employees who work hard every day to make our ongoing success possible.”
The Company also issued the following revised guidance for 2014:
Guidance excludes the impact of items, if applicable, that are non-operational in nature including items such as, but not limited to, gains or losses on sales of hospitals and businesses, gains or losses on early debt retirement and impairments of long-lived assets. This guidance is also subject to certain risks including those as set forth in the Company’s “Important Legal Information.”
A listen-only simulcast, as well as a 30-day replay, of LifePoint Hospitals’ second quarter 2014 conference call will be available on line at today, Friday, July 25, 2014, beginning at 10:00 a.m. Eastern Time.
LifePoint Hospitals, Inc. is a leading hospital company focused on providing quality healthcare services close to home. Through its subsidiaries, LifePoint operates 62 hospital campuses in 20 states. With a mission of “Making Communities Healthier®,” LifePoint is the sole community hospital provider in the majority of the communities it serves. More information about the Company, which is headquartered in Brentwood, Tennessee, can be found on its website, . All references to “LifePoint,” “LifePoint Hospitals,” or the “Company” used in this release refer to LifePoint Hospitals, Inc. or its affiliates.