Quorum Health Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Reports Impairment of Long-Lived Assets and Goodwill for the Third Quarter Ended September 30, 2018; Reaffirms Earnings Guidance for the Year Ending December 31, 2018
For the nine months, the company reported net operating revenues of $1,419,959,000 against $1,557,088,000 a year ago. Loss from operations was $84,169,000 against income of $3,784,000 a year ago. Loss before income taxes was $179,476,000 against $86,420,000 a year ago. Net loss was $178,314,000 compared to $86,334,000 a year ago. Net loss attributable to the company was $179,514,000 against $87,382,000 a year ago. Basic and diluted loss per share was $6.21 against $3.11 a year ago. Net cash provided by operating activities was $42,935,000 compared to $789,000 a year ago. Capital expenditures for property and equipment were $34,895,000 compared to $50,667,000 a year ago. Capital expenditures for software were $1,527,000 compared to $6,174,000 a year ago. LBITDA was $32,154,000 compared to EBITDA of $67,225,000 a year ago. Adjusted EBITDA was $88,885,000 against $92,840,000 a year ago.
For the quarter, the company reported impairment of long-lived assets and goodwill of $32,438,000 against $5,261,000 a year ago.
The company's financial outlook for the year ending December 31, 2018 remains unchanged. For the year, the company expects net operating revenues to be in the range of $1.875 billion to $1.925 billion. Adjusted EBITDA, adjusted for divestitures expected to be in the range of $145 million to $165 million.