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Exhibit 99.1
LifePoint Health Reports Third Quarter 2018 Results
BRENTWOOD, Tenn.--(BUSINESS WIRE)--October 26, 2018--LifePoint Health, Inc. (NASDAQ: LPNT) today announced results for the third quarter and nine months ended September 30, 2018.
Third Quarter 2018
The following highlights the Company’s results of operations as presented in accordance with U.S. generally accepted accounting principles (“GAAP”) for the third quarter ended September 30, 2018:
The Company’s results of operations for the third quarters ended September 30, 2018 and 2017, included the following non-operational adjustments:
Excluding the non-operational adjustments listed above, highlights of the Company’s results of operations, as adjusted on a non-GAAP basis, for the third quarter ended September 30, 2018, were as follows:
Additional information regarding normalized net income, normalized diluted earnings per share attributable to LifePoint Health, Inc. stockholders, adjusted EBITDA and normalized EBITDA, including uses by management and others, and a reconciliation to comparable GAAP measures of financial performance, is set forth under the section titled “Unaudited Supplemental Information.”
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Lifepoint Health, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:
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We consider an accounting estimate to be critical if: it requires assumptions to be made that were uncertain at the time the estimate was made; and changes in the estimate or different estimates that could have been made could have a material impact on our consolidated results of operations or financial condition.
Our depreciation and amortization expense decreased as a result of our recent divestitures, in addition to the impact of the impairment losses recognized in the fourth quarter of 2017 to adjust the carrying amounts of certain long-lived assets at two of our hospitals to their estimated fair values.
Our depreciation and amortization expense decreased as a result of our recent divestitures, in addition to the impact of the impairment losses recognized in the fourth quarter of 2017 to adjust the carrying amounts of certain long-lived assets at two of our hospitals to their estimated fair values.
Depreciation and Amortization For the three months ended September 30, 2018, our depreciation and amortization expense decreased by $6.3 million, or 7.2% to $80.9 million, or 5.2% of revenues, compared to $87.2 million, or 5.5% of revenues, for the same period last year.
Depreciation and Amortization For the nine months ended September 30, 2018, our depreciation and amortization expense decreased by $20.1 million, or 7.6% to $243.9 million, or 5.3% of revenues, compared to $264.0 million, or 5.5% of revenues, for the same period last year.
Because adjusted EBITDA is not...Read more
Because adjusted EBITDA is not...Read more
Interest Rates; Leverage Covenant Interest...Read more
Additionally, effective January 1, 2017,...Read more
Lastly, our EHR incentive income...Read more
Other Operating Expenses, Net The...Read more
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Because they discuss future events...Read more
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Interest Expense, Net Our interest...Read more
In addition, if the Affordable...Read more
Our cash flows provided by...Read more
We recognized higher expenses associated...Read more
We recognized higher expenses associated...Read more
Our critical accounting estimates include...Read more
Additionally, our contract services expenses...Read more
In recent years, we have...Read more
As a result, the Kentucky...Read more
We believe adjusted EBITDA is...Read more
We believe adjusted EBITDA is...Read more
Additionally, the Middle Class Tax...Read more
These decreases were partially offset...Read more
These decreases were partially offset...Read more
Our ability to collect self-pay...Read more
This decrease was primarily a...Read more
We actively negotiate with these...Read more
The following table sets forth...Read more
Among other things, the Final...Read more
The Congressional Budget Office (?CBO?)...Read more
Supplies The following table summarizes...Read more
Supplies The following table summarizes...Read more
On July 12, 2018, CMS...Read more
Our consolidated revenues by source...Read more
Interest Expense, Net Our interest...Read more
Developments, Trends and Operating Environment...Read more
Consolidated information includes the results...Read more
We operate in a continually...Read more
In addition to the executive...Read more
While CMS has already implemented...Read more
In addition, multiples of current...Read more
In addition, multiples of current...Read more
At the effective time of...Read more
Other Non-Operating Losses (Gains), Net...Read more
Other Non-Operating Losses (Gains), Net...Read more
The consummation of the proposed...Read more
The following table illustrates our...Read more
Among other things, the Final...Read more
The net effect of the...Read more
The increase in our same-hospital...Read more
Management anticipates that compliance expenses...Read more
HMOs, PPOs, and Other Private...Read more
When adjusted to exclude the...Read more
When adjusted to exclude the...Read more
As of September 30, 2018,...Read more
These decreases were partially offset...Read more
These decreases were partially offset...Read more
Issued letters of credit and...Read more
Insured patients are generally not...Read more
In-Home Healthcare Partnership Effective January...Read more
Results of Operations Certain Definitions...Read more
Effective tax rate....Read more
Depending upon the patient?s medical...Read more
In addition to competitive concerns,...Read more
These laws and regulations govern...Read more
In addition to overhauling the...Read more
Overall, CMS estimates that under...Read more
Additionally, future efforts to reduce...Read more
Our same-hospital revenues per equivalent...Read more
Earnings before depreciation and amortization;...Read more
Such efforts to reduce federal...Read more
While the Proposed Budget does...Read more
Provision for income taxes as...Read more
Adjusted EBITDA should not be...Read more
Adjusted EBITDA should not be...Read more
We cannot predict whether CMS...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
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Lifepoint Health, Inc. provided additional information to their SEC Filing as exhibits
Ticker: LPNT
CIK: 1301611
Form Type: 10-Q Quarterly Report
Accession Number: 0001301611-18-000017
Submitted to the SEC: Fri Oct 26 2018 11:20:18 AM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: General Medical And Surgical Hospitals