Quorum Health Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Earnings Guidance for the Full Year Ending December 31, 2016; Reports Impairment of Long-Lived Assets and Goodwill for the Second Quarter Ended June 30, 2016
For the six months, the company reported net operating revenues of $1,079,288,000 against $1,085,969,000 a year ago. Loss from operations was $238,164,000 against income from operations of $61,815,000 a year ago. Loss before income taxes was $294,892,000 against income from operations of $12,185,000 a year ago. Net loss attributable to the company was $250,063,000 against income of $7,629,000 a year ago. Basic and diluted loss per share attributable to the company was $8.80 against basic and diluted earnings per share was $0.27 a year ago. Net cash provided by operating activities was $61,193,000 against $22,696,000 a year ago. Capital expenditures for property and equipment were $33,207,000 against $20,410,000 a year ago. Capital expenditures for software were $3,804,000 against $2,661,000 a year ago. LBITDA was $175,544,000 against EBITDA of $125,654,000 a year ago. Adjusted EBITDA was $85,456,000 against $125,654,000 a year ago.
For the quarter, the company reported impairment of long-lived assets and goodwill of $250,400,000.
The company expects net operating revenues for the year ending December 31, 2016 to range from $2.15 billion to $2.20 billion and expects adjusted EBITDA to range from $175 million to $200 million.