Envision Healthcare Q1 net earnings hit $30.7M: 11 points

Envision Healthcare Corp. reported its first quarter fiscal year 2017 financial results for the period ending March 31.

Here are 11 points on the company's first quarter;

1. Net revenue hit $1.88 billion from continuing operations and $593.5 million from discontinued operations.

2. Envision Healthcare had net earnings from continuing operations of $30.7 million, or $0.26 per share.

3. Net losses from discontinued operations were $478.2 million, or $4.10 per share.

4. Envision's adjusted net earnings totaled $94.4 million. Of this total, $80.4 million were from continuing operations and $14.0 million from discontinued operations.

5. Adjusted net earnings were $0.77 per share,.

6. Envision had $282.6 million in adjusted EBITDA.

7. The company yielded losses of $7.1 million due a settlement ending its largest population health management services contract, which its Evolution Health subsidiary offered.

Physician services division
8. The company's physician services division had $1.56 billion in net revenues.

9. The division has 6.3 percent growth in new contracts since the beginning of 2016. Contract termination comprised 8.5 percent of first quarter revenue.

10. Revenue growth was 5 percent.

11. Adjusted EBITDA totaled $150.1 million.

"Our organization has made considerable progress since our merger late last year, focusing on operational execution while re-positioning our offerings within a constantly evolving healthcare services space," said Christopher A. Holden, president and CEO of Envision. "We're taking necessary steps to align our services with a strategic vision that builds on our leadership as a physician-centric organization."

More articles on surgery centers:
SCA partners with multispecialty Connecticut ASC: 5 things to know
Novant Health appeals CON denial for ASC operating room: 4 things to know
Island Eye Surgicenter opens new facility — 5 insights

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months