Vanguard Health Systems on Monday announced fiscal third-quarter earnings that were much better than a year ago. But the hospital chain guided down its earnings and capital expenditures.
The company saw total revenue climb by 12 percent to almost $1.6 billion. Net income attributable to shareholders rose to $44 million or 55 cents per share, up from $2.8 million or 5 cents per share during the comparable period of last year.
Officials said recent updates to Medicare reimbursement  estimates provided a boost to income of more than $22 million, or 28 cents per share. Excluding that boost, EPS came in at 27 cents, seven cents better than analysts had expected. More details can be found here .
Looking ahead, Vanguard execs trimmed their earnings guidance to account for the recent issuance of $375 million of debt. They also said that capital expenditures this fiscal year will come in between $320 million and $330 million. Their previous guidance was $335 million to $365 million.
The company’s stock (Ticker: VHS ) fell Monday by 5.3 percent to close the day at $8.88. Year to date, it is down about 13 percent.
Four-year-old Franklin Synergy posted its 13th straight quarter of profits early this year, booking a pre-tax gain of almost $1.2 million. That was up 6 percent from late 2011 and more than four times its profit of a year ago.
The bank’s loan book ended March at $257 million, up 32 percent from last year , while deposits climbed 38 percent to $452 million. President Richard Herrington said growth came from a number of factors, including his team’s new financial planning unit and small-business loans.
“We continue to build a critical mass of relationships that now produce solid, sustainable earnings,” Herrington said. “In addition, we experienced a significant increase in non-interest income for the quarter as mortgage banking picked up steam.”