AmSurg Q2 ambulatory revenue up 2.8%, reaches $319.7M — 17 key notes

AmSurg reported its financial results for the second quarter this year, ending June 30.

Here are 17 key notes:

Ambulatory services
1. Net revenues totaled $319.7 million, up 2.8 percent from $311 million during the second quarter last year.

2. Same center revenues for the quarter rallied 4.2 percent, which featured a 3.3 percent increase in procedures and a 0.9 percent increase in net revenue per procedure.

3. Adjusted EBITDA in this segment hit $61.7 million, a 2.4 percent increase from $60.3 million for the second quarter of 2015.

4. As of June 30, 2016, AmSurg operated 258 ASCs and one surgical hospital. The company acquired four ASCs during the second quarter, and disposed of two ASCs and deconsolidated one ASC.

5. AmSurg had four ASCs under letter of intent as of June 30, 2016, three of which have now been purchased and one of which is under development.

Physician services
6. Net revenues were up 33 percent from the same period last year, hitting $438.8 million.

7. Adjusted EBITDA totaled $87.5 million, a 29 percent increase.

Total company results
8. Net revenues hit $758.5 million, an 18 percent increase from $642 million during the second quarter last year.

9. AmSurg had a 39 percent increase in net earnings attributable to AmSurg common shareholders. The earnings totaled $43.8 million.

10. The company's net earnings attributable to AmSurg common shareholders were $0.80 per share, up 23 percent.

11. AmSurg's EBITDA totaled $149.2 million, a 17 percent increase from the same period of 2015.

12. Adjusted earnings reached $1.10 per share, representing 13 percent growth from the second quarter the year prior.

13. The company had cash and cash equivalents of $74.1 million and availability under its $500 million revolving credit facility of $100 million.

2016 outlook
14. For 2016, AmSurg expects revenue to be between $3.05 billion and $3.09 billion.

15. The company projects same-center revenue to increase between 4 percent and 6 percent in the ambulatory segment, and to also rise between 4 percent and 6 percent for physician services.

16. The company expects adjusted EBITDA to fall between $595 million and $601 million for 2016.

17. Adjusted earnings per share are projected to be between $4.28 and $4.35.

More articles on surgery centers:
Tenet's Q2 ambulatory net operating revenue reaches $442M, up 37.3% — 18 takeaways
Regent Surgical Health joint ventures with West End Surgical ASC — 6 takeaways on the ASC dedicated specifically to TJR, spine
Panel favors AmSurg in non-compete controversy with physicians: 5 things to know

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