Community Health Systems turned in first-quarter profits from continuing operations of $99.7 million, up 17 percent from last year. That equated to 85 cents per diluted share, slightly below what the analyst community had been hoping to see.
Revenue came in at $3.3 billion, up more than 11 percent from a year ago and above consensus estimates. Same-store admissions at the Franklin-based company decreased by 2.3 percent, while adjusted admissions climbed 2.5 percent compared to 2011. Net cash from operations fell slightly to $187 million.
“We are especially encouraged by our volumes, which showed more favorable year-over-year trends than we experienced in 2011,” said Chairman and CEO Wayne Smith. “These results confirm our ability to drive revenues, improve our operating efficiencies and manage our costs.”
Shares of CHS (Ticker: CYH) closed Thursday trading at $23.98, up 2.6 percent on the day. They’ve risen 37 percent so far this year.
Fellow hospital chain LifePoint reported a Q1 profit of $56.1 million, up from $46.1 million a year ago, and raised its outlook for the rest of 2012.
Brentwood-based LifePoint posted per-diluted-share earnings from continuing operations of $1.16, a number that included a gain of 33 cents from the settlement of Medicare rural payments litigation. Excluding that boost and two negative one-time items, per-share profits would have come in at 94 cents per share, three cents better than analysts had been expecting.
Chairman and CEO Bill Carpenter raised LifePoint’s earnings forecast for the year by about 4.5 percent, helped by growth in surgical volumes and cardiology work, among others. Diluted EPS are now expected to come in between $3.35 and $3.60 per share.
Shares of LifePoint (Ticker: LPNT) closed Thursday trading at $39.80, up about 1 percent on the day. They’ve risen 7 percent so far this year.
Behavioral health provider Acadia Healthcare said it earned $3.7 million in the first quarter. Per diluted share, profits from continuing operations were 10 cents, in line with the Street’s estimates.
Net revenues more than quintupled from a year ago to $91.3 million. Same-facility revenues rose 14 percent to $19.2 million, while overall revenues per patient day fell about 10 percent to $598.
Chairman and CEO Joey Jacobs said his team, which has completed a number of acquisitions in the past year, is focused primarily on organic growth and profitability.
“The margin opportunity in executing these initiatives well is reflected in a 24.6 percent same-facility EBITDA margin for the first quarter of 2012 for our six legacy facilities compared with the 20.7 percent EBITDA margin for all facilities,” Jacobs said.
Shares of Acadia (Ticker: ACHC) closed Thursday trading at $16.12, down about 2 percent on the day. Year to date, they’re up more than 60 percent.