Genesis Healthcare, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2016; Provides Earnings Guidance for the Full Year 2017
February 22, 2017 at 06:21 pm
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Genesis Healthcare, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company's net revenues were $1,402.860 million against $1,440.721 million a year ago. Income before income tax expense (benefit) was $43.589 million against $113.675 million a year ago. Income from continuing operations was $41.286 million against loss of $312.992 million a year ago. Net income attributable to the company was $22.457 million against net loss of $426.195 million a year ago. EBITDAR was $271.365 million against $116.715 million a year ago. EBITDA was $234.917 million against $79.472 million a year ago. Adjusted EBITDAR was $156.648 million against $161.031 million a year ago. Adjusted EBITDA was $33.196 million against $39.682 million a year ago.
For the year, the company's net revenues were $5,732.430 million against $5,619.224 million a year ago. Loss before income tax expense (benefit) was $135.513 million against $353.025 million a year ago. Loss from continuing operations was $118.078 million against $525.549 million a year ago. Net loss attributable to the company was $64.013 million against $426.195 million a year ago. Net cash provided by operating activities was $68.361 million against $8.618 million a year ago. EBITDAR was $793.734 million against $542.677 million a year ago. EBITDA was $647.490 million against $392.401 million a year ago. Adjusted EBITDAR was $696.489 million against $725.588 million a year ago. Adjusted EBITDA was $197.460 million against $243.870 million a year ago.
For the quarter, long-lived asset impairment was $35.431 million against $28.546 million a year ago.
For the full year 2017, the company expects revenues to be in the range of $5,400.0 million to $5,500.0 million, EBITDA to be in the range of $503.0 million to $519.0 million, adjusted EBITDA to be in the range of $542.0 million to $558.0 million, adjusted EBITDAR to be in the range of $675.0 million to $710.0 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 Fourth Quarter and Year Ended December 31, 2016; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2016; Provides Earnings Guidance for the Full Year 2017