Adeptus Health Inc. (ADPT) SEC Filing 10-Q Quarterly report for the period ending Thursday, June 30, 2016

ADPT News - For Immediate Release

ADEPTUS HEALTH REPORTS SECOND QUARTER 2016 RESULTS 

Net Operating Revenue Increased 12% for Second Quarter

Systemwide Revenue Increased 36% for Second Quarter

Adjusted EBITDA Decreased 2% for Second Quarter

EPS Increased to $5.80

Adjusted EPS Increased to $0.48

Lewisville, Texas (July 21, 2016) — Adeptus Health Inc. (NYSE: ADPT) (“ADPT” or the “Company”), the largest operator of freestanding emergency rooms in the U.S., announced its results for the second quarter ended June  30, 2016. All comparisons included in this release are for the same period in the prior year, unless otherwise noted. See “Non-GAAP Financial Measures Description and Reconciliation” for further information related to systemwide revenue, Adjusted EBITDA and Adjusted earnings per share.

Second Quarter 2016 Highlights:

2016 Guidance Reaffirmed

We continue to expect systemwide net patient services revenue, which includes revenue from our unconsolidated joint ventures, of $640.0 million to $670.0 million for the full year 2016. We expect Adjusted EBITDA of $110.0 million to $115.0 million and Adjusted earnings per share of $2.55 to $2.65 for the full year 2016.

Results of Operations for the Second Quarter 2016

Thomas S. Hall, Chairman and CEO, stated, “Second quarter results were in-line with the preview we provided in late May, despite unexpected softer volumes in June. The volume weakness was primarily in markets where our facilities are not operated as hospital outpatient departments (HOPDs). We continue to execute on our HOPD strategy which is delivering positive same store results in the Dallas/Fort Worth market. We anticipate similar increases in patient volume with the upcoming HOPD conversions in Denver, Colorado Springs and Houston as the hospitals in those markets open later this year.”