Genesis Healthcare, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Year 2017
May 09, 2017 at 06:00 am EDT
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Genesis Healthcare, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported net revenue of $1,389,132,000 against $1,472,218,000 a year ago. Loss before income tax expense was $82,308,000 against $67,926,000 a year ago. Loss from continuing operations was $83,592,000 against $70,990,000 a year ago. Net loss was $83,613,000 against $71,028,000 a year ago. Net loss attributable to company was $50,761,000 or $0.55 per share against $43,039,000 or $0.48 per share a year ago. Net cash provided by operating activities was $44,630,000 against $24,446,000 a year ago. EBITDA was $106,815,000 against $129,020,000 a year ago. Adjusted EBITDAR was $165,690,000 against $178,351,000 a year ago. Adjusted EBITDA was $129,590,000 against $141,035,000 a year ago.
For the year 2017, the company expects revenue of range from $5,400.0 million to $5,500.0 million. Net loss attributable to company of range between $159.0 million to $148.0 million. EBITDA of $503.0 million to $535.0 million. Adjusted EBITDA of range between $542.0 million to $573.0 million. Adjusted EBITDAR of range between $675.0 million to $710.0 million.
Genesis Healthcare, Inc. is a holding company. The Company provides services to skilled nursing facilities and assisted/senior living communities. It also specializes in contract rehabilitation therapy, respiratory therapy, physician services, staffing services, and accountable care. It provides approximately 250 skilled nursing centers and senior living communities in 22 states nationwide. Its subsidiaries also supply rehabilitation therapy to approximately 1,400 locations in 43 states and the District of Columbia. It offers a range of services, which include rehabilitation therapy, memory support, long-term care, and assisted/senior living. Its rehabilitation therapy includes transitional care, short stay care, ventilator rehabilitation, dialysis, cardiac management, and pulmonary management. Its long-term care service provides 24-hour skilled nursing services for elderly residents and people with a chronic condition or a prolonged illness. It also offers hospice care services.
Genesis Healthcare, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Year 2017