American Renal Associates Holdings, Inc. reported Unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported net patient service operating revenues of $187,711,000 compared to $192,955,000 a year ago. Operating income was $32,901,000 compared to $30,752,000 a year ago. Income before income taxes was $29,231,000 compared to $35,945,000 a year ago. Net income attributable to the company was $7,988,000 compared to $12,424,000 a year ago. Net income attributable to common shareholders was $7,988,000 compared to $10,672,000 a year ago. Diluted earnings per share were $0.24 against of $0.34 a year ago. Cash provided by operating activities was $45,012,000 compared to $52,674,000 a year ago. Purchases of property, equipment and intangible assets were $10,727,000 compared to $12,438,000 a year ago. Adjusted net income attributable to the company was $6,435,000 compared to $9,353,000 a year ago. Adjusted net income attributable to the company per share was $0.19 against of $0.28 a year ago. Adjusted EBITDA was $46,838,000 compared to $56,154,000 a year ago. Turning to cash flow. For the third quarter of 2017, the company had a very strong cash flow quarter and generated $45 million of cash flow from operations. Adjusted cash flow from operations was $23 million. During third quarter 2017, the company spent $10.7 million on capital expenditures, of which $1.5 million was related to maintenance CapEx.

For the nine months, the company reported net patient service operating revenues of $550,728,000 compared to $550,653,000 a year ago. Operating income was $72,527,000 compared to $101,607,000 a year ago. Income before income taxes was $55,410,000 compared to $73,058,000 a year ago. Net income attributable to the company was $4,626,000 compared to $6,734,000 a year ago. Net loss attributable to common shareholders was $8,979,000 compared to $7,151,000 a year ago. Diluted loss per share was $0.29 against of $0.26 a year ago. Cash provided by operating activities was $97,372,000 compared to $141,903,000 a year ago. Purchases of property, equipment and intangible assets were $24,780,000 compared to $46,659,000 a year ago. Adjusted EBITDA was $128,306,000 compared to $156,292,000 a year ago. As of September 30, 2017, adjusted owned net debt was $461.6 million.

The company provided earnings guidance for the full year of 2017. For the period, the company is reiterating its prior guidance for 2017 Adjusted EBITDA less NCI to be in a range of $100 million and $106 million.