October 20, 2021
- Net income from continuing operations available to common shareholders in Q3’21 of $448 million versus a net loss from continuing operations of $197 million in Q3’20
- Consolidated Adjusted EBITDA in Q3’21 of $855 million ($851 million excluding $4 million of COVID stimulus grant income) versus $551 million in Q3’20 ($621 million excluding $(70) million of grant income)
- Diluted earnings per share from continuing operations available to common shareholders in Q3’21 of $4.12 compared to a loss per share of $1.87 in Q3’20; Adjusted diluted earnings per share from continuing operations of $1.99 in Q3’21 compared to $0.64 in Q3’20
- Same-hospital adjusted admissions increased 4.4% versus Q3’20; same-hospital net patient service revenue per adjusted admission up 6.2% versus Q3’20
- Same-facility system-wide ambulatory surgical cases increased 6.8% versus Q3’20
- Q3’21 items of significance included:
- Appointment of Dr. Saum Sutaria as the Company’s Chief Executive Officer
- Completion of the previously announced sale of the Company’s Miami-area hospitals; pre-tax gain on sale of $409 million excluded from Adjusted EBITDA
- Proceeds from Miami sale were used to repay $1.100 billion of the Company’s 4.625% senior secured first-lien notes due July 15, 2024; results in savings of ~$50 million in annual cash interest payments
- FY 2021 Outlook increased again based on continued out-performance by the Company:
- Net income from continuing operations available to common shareholders Outlook range now $7.09 to $7.50 per diluted share (previously $6.25 to $7.17)
- Adjusted EBITDA Outlook range now $3.275 billion to $3.325 billion (previously $3.150 billion to $3.250 billion)
- Adjusted diluted earnings per share Outlook range now $6.15 to $6.38 (previously $5.23 to $5.73)
