Nobilis Health Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Revises Earnings Guidance for the Full Year 2018
For the six months, the company reported total revenues of $133,533,000 against $148,264,000 a year ago. The primary contributor to shortfall in year-over-year revenue was a $15 million decrease in patient and net professional fees. Income from operations was $2,298,000 against $4,250,000 a year ago. Loss before income taxes and non-controlling interests was $1,610,000 against income of $1,747,000 a year ago. Net loss attributable to the company was $2,967,000 or $0.04 per diluted share against $813,000 or $0.01 per diluted share a year ago and was also negatively impacted by the increased amortization for the Elite acquisition. Net cash provided by operating activities was $2,728,000 against $18,894,000 a year ago. Purchase of property and equipment was $1,338,000 against $3,802,000 a year ago. EBITDA was $12,934,000 against $7,732,000 a year ago. Adjusted EBITDA was $16,520,000 against $12,067,000 a year ago.
Given the results of the first half of the year, the company is lowering its 2018 revenue guidance to $315 million to $330 million and adjusted EBITDA in the range of $56 million to $59 million.