LifePoint Health, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Impairments of Long-Lived Assets for the Fourth Quarter of 2017; Provides Earnings Guidance for the Year 2018
For the year, the company reported revenues of $6,291.4 million against $6,364.0 million a year ago. Profit before income taxes was $159.8 million against $204.8 million a year ago. Net income attributable to company was $102.4 million or $2.51 per diluted share against $121.9 million or $2.82 per diluted share a year ago. Net cash provided by operating activities was $471.6 million against $435.2 million a year ago. Purchases of property and equipment were $474.2 million against $399.5 million a year ago. Normalized net income was $158.6 million or $3.63 per diluted share against $161.8 million or $3.52 per diluted share a year ago. Adjusted EBITDA was $668.3 million against $721.8 million a year ago. Normalized EBITDA was $745.7 million against $746.5 million a year ago. Normalized revenues from consolidated operations were approximately $6,364,000,000.
For the fourth quarter of 2017, the company reported impairments of long-lived assets of $27.3 million.
The company provided earnings guidance for 2018. For the year, the company expects, net income to be in the range of $173.2 to $196.4 million; net income attributable to company in range of $162.7 to $183.9 million; estimated adjusted EBITDA in range of $725.0 to $765.0 million; revenues in range of $6.35 to $6.43 billion; Diluted EPS in range of $4.0 to $4.53; and capital expenditures in range of $475 to $500 million. 2018 effective tax rate will be approximately 24.5% and will result in incremental cash savings of approximately $30 million annually. The midpoint of EBITDA guidance range is approximately $745 million. The company expects margin improvement in class of 2016 acquisitions of approximately 250 basis points, resulting in $20 million to $25 million of additional EBITDA.