Quorum Health Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company's net operating revenues were $472,632,000 against $530,146,000 a year ago. Income from operations was $5,531,000 against loss of $362,000 a year ago. Loss before income taxes was $26,395,000 against $30,820,000 a year ago. Net loss attributable to the company was $26,606,000 or $0.92 per basic and diluted share against $30,630,000 or $1.09 per basic and diluted share a year ago. Net cash provided by operating activities was $17,194,000 against net cash used in operating activities of $27,481,000 a year ago. Capital expenditures for property and equipment were $10,791,000 against $15,925,000 a year ago. Capital expenditures for software were $531,000 against $1,663,000 a year ago. EBITDA was $22,673,000 against $20,224,000 a year ago. Adjusted EBITDA was $36,323,000 against $34,430,000 a year ago.

For the six months, the company's net operating revenues were $959,452,000 against $1,057,786,000 a year ago. Loss from operations was $61,659,000 against income from operations of $664,000 a year ago. Loss before income taxes was $124,516,000 against $57,324,000 a year ago. Net loss attributable to the company was $125,574,000 or $4.37 per basic and diluted share against $58,191,000 or $2.08 per basic and diluted share a year ago. Net cash provided by operating activities was $14,601,000 against net cash used in operating activities of $8,955,000 a year ago. Capital expenditures for property and equipment were $25,319,000 against $39,142,000 a year ago. Capital expenditures for software were $1,044,000 against $3,169,000 a year ago. LBITDA was $26,256,000 against EBITDA of $43,370,000 a year ago. Adjusted EBITDA was $54,743,000 against $60,572,000 a year ago.

The company revised earnings guidance for the year ending December 31, 2018. The company's guidance for Adjusted EBITDA, Adjusted for divestitures for the year ending December 31, 2018 remains unchanged from the company's first quarter release at a range of $145 million to $165 million. The company has updated its financial outlook by reducing its guidance for net operating revenues for the year ending December 31, 2018 from a range of $1.925 billion to $1.975 billion to a range of $1.875 billion to $1.925 billion. This reduction is primarily a result of the company's continued efforts to execute on its divestiture strategy as well as efforts to improve its operating margins by discontinuing underperforming service lines, managed Medicaid contracts and provider relationships.