AMERICAN RENAL ASSOCIATES HOLDINGS, INC. ANNOUNCES FIRST QUARTER 2017 RESULTS
BEVERLY, MA (May 9, 2017) - American Renal Associates Holdings, Inc. (NYSE: ARA) (“ARA” or the “Company”), a leading provider of outpatient dialysis services, today announced financial and operating results for the first quarter ended March 31, 2017.
Certain metrics, including those expressed on an adjusted basis, are Non-GAAP financial measures (See “Use of Non-GAAP Financial Measures” and the reconciliation tables further below).
First Quarter 2017 Highlights (all percentage changes compare Q1 2017 to Q1 2016 unless noted):
Net patient service operating revenues increased 3% to $177.0 million;
Net (loss) income attributable to American Renal Associates Holdings, Inc. was $(1.3) million or $(0.40) per share as compared to $3.8 million or $0.16 per share in Q1 2016;
Adjusted EBITDA less noncontrolling interests (“Adjusted EBITDA-NCI”) was $21.4 million as compared to $27.2 million in Q1 2016;
Adjusted net income attributable to American Renal Associates Holdings, Inc. was $1.9 million or $0.06 per share for the first quarter of 2017;
Total dialysis treatments increased 10.1%, of which 9.2% was non-acquired growth;
As of March 31, 2017, the Company operated 217 outpatient dialysis centers serving approximately 14,700 patients.
Joseph (Joe) Carlucci, Chairman and Chief Executive Officer, said, “We made considerable progress with our operational initiatives during the first quarter of 2017, and this progress is a testament to the collective effort within our organization and the strength of our operating model. I believe the actions we’ve taken should put our Company in a stronger position during the remainder of 2017 to manage against the headwinds associated with the previously-disclosed ACA impact. First quarter 2017 financial results were largely consistent with our internal plan. As discussed below, we are establishing financial guidance for 2017, and our 2017 Outlook assumes that our quarterly results should improve sequentially as our operational initiatives take further hold.”
“ARA’s dedicated staff remains focused on our Company’s first priority - delivering the highest quality patient care. To that end, I am proud of ARA’s performance in the most recent In-Center Hemodialysis Consumer Assessment of Health Care Providers and Systems (ICH-CAHPS) survey data, which shows that ARA patients have significantly higher satisfaction rates with their dialysis facility (15% higher), with the staff of their dialysis facility (11% higher), and with the nephrologist at their dialysis facility (11% higher) as compared to industry averages. The most recent ICH-CAHPS survey was administered by a third party for the period October 2016 through January 2017.”
“Our differentiated partnership model allows us to deliver high quality dialysis care in an integrated and coordinated manner with our physician partners. During the first quarter of 2017, we opened three new de novo clinics and ended the period with a pipeline of 32 signed clinics at March 31, 2017. Our pipeline continues to be strong and reflects the growing acceptance of our operating philosophy within the nephrology community,” continued Carlucci.
The following information was filed by American Renal Associates Holdings, Inc. (ARA) on Tuesday, May 9, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: ARA CIK: 1498068 Form Type:10-Q Quarterly Report Accession Number: 0001498068-17-000035 Submitted to the SEC: Tue May 09 2017 4:50:48 PM EST Accepted by the SEC: Tue May 09 2017 Period: Friday, March 31, 2017 Industry: Health And Allied