Genesis Healthcare, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended of June 30, 2016; Provides earnings Guidance for the full year of 2016
August 04, 2016 at 09:35 pm
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Genesis Healthcare, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended of June 30, 2016. For the quarter, the company reported net revenues of $1,438,358,000 compared to $1,419,475,000 a year ago. Loss before income tax expense was $32,933,000 compared to $37,633,000 a year ago. Loss from continuing operations was $36,019,000 compared to $33,214,000 a year ago. Net loss attributable to the company was $22,973,000 compared to $19,186,000 a year ago. Basic and diluted net loss per common share was $0.26 compared to $0.22 a year ago. EBITDAR was $205,848,000 compared to $181,316,000 a year ago. EBITDA was $168,880,000 compared to $142,357,000 a year ago. Adjusted EBITDAR was $189,352,000 compared to $197,974,000 a year ago. Adjusted EBITDA was $62,975,000 compared to $76,557,000 a year ago.
For the six months, the company reported net revenues of $2,910,576,000 compared to $1 2,762,476,000 a year ago. Loss before income tax expense was $100,859,000 compared to $161,643,000 a year ago. Loss from continuing operations was $107,009,000 compared to $151,576,000 a year ago. Net loss attributable to the company was $66,012,000 compared to $131,752,000 a year ago. Basic and diluted net loss per common share was $0.74 compared to $1.60 a year ago. Net cash provided by operating activities was $23,515,000 compared to net cash used in operating activities of $7,729,000 a year ago. EBITDAR was $372,184,000 compared to $274,971,000 a year ago. EBITDA was $297,900,000 compared to $199,593,000 a year ago. Adjusted EBITDAR was $367,702,000 compared to $375,777,000 a year ago. Adjusted EBITDA was $116,508,000 compared to $136,982,000 a year ago.
The company provided earnings guidance for the full year of 2016. For the period, the company expects net revenues to be in the range of $5,650 million to $5,750.0 million. Adjusted EBITDAR expected to be in the range of $710.0 million to $740.0 million. Adjusted EBITDA expected to be in the range of $208.0 million to $238.0 million.
Genesis Healthcare, Inc. is a holding company. The Company provides services to skilled nursing facilities and assisted/senior living communities. It also specializes in contract rehabilitation therapy, respiratory therapy, physician services, staffing services, and accountable care. It provides approximately 250 skilled nursing centers and senior living communities in 22 states nationwide. Its subsidiaries also supply rehabilitation therapy to approximately 1,400 locations in 43 states and the District of Columbia. It offers a range of services, which include rehabilitation therapy, memory support, long-term care, and assisted/senior living. Its rehabilitation therapy includes transitional care, short stay care, ventilator rehabilitation, dialysis, cardiac management, and pulmonary management. Its long-term care service provides 24-hour skilled nursing services for elderly residents and people with a chronic condition or a prolonged illness. It also offers hospice care services.
Genesis Healthcare, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended of June 30, 2016; Provides earnings Guidance for the full year of 2016