Financial Performance - Total revenue for Q1 2025 was $1.50 billion, reflecting a 4.0% year-over-year growth[3] - Net income attributable to Ardent Health was $41 million, or $0.29 per diluted share, compared to $27 million, or $0.21 per diluted share in Q1 2024[11] - Adjusted EBITDA increased 2.5% year-over-year to $98 million[11] - Total revenue for Q1 2025 was $1,497,234, an increase of 4.0% from $1,439,046 in Q1 2024[27] - Net income attributable to Ardent Health Partners, Inc. for Q1 2025 was $41,383, representing a 53.3% increase from $27,047 in Q1 2024[27] - Basic net income per share increased to $0.30 in Q1 2025 from $0.21 in Q1 2024, reflecting a 42.9% growth[27] - Net income for Q1 2025 increased to $58,965, up from $45,851 in Q1 2024[39] - Adjusted EBITDA for Q1 2025 was $98,201, compared to $95,814 in Q1 2024, marking a growth of 2.0%[39] Operational Metrics - Admissions rose by 7.6% year-over-year, driven by a heightened flu season and solid inpatient surgery growth[5] - Adjusted admissions grew by 2.7% year-over-year, tracking toward the upper end of the 2025 guidance[5] - Emergency room visits increased by 2.3% year-over-year to 161,249[7] - The number of admissions in Q1 2025 rose to 41,389, a 7.6% increase from 38,469 in Q1 2024[34] - Utilization of licensed beds improved to 50% in Q1 2025, up from 46% in Q1 2024, representing an 8.7% increase[34] - The average length of stay for patients increased to 4.74 days in Q1 2025, compared to 4.66 days in Q1 2024[34] Financial Guidance - The company reaffirmed its full-year 2025 guidance, projecting total revenue between $6.2 billion and $6.45 billion[10] - The guidance for full-year 2025 net income is projected between $342 million and $386 million[50] - Adjusted EBITDA guidance for the full year 2025 is estimated to be between $575 million and $615 million[51] Cash and Debt Position - As of March 31, 2025, total cash and cash equivalents were $495 million, with total debt of $1.1 billion[8] - The company's net leverage ratio was 1.4x, and the lease-adjusted net leverage ratio was 3.0x as of March 31, 2025[8] - Cash and cash equivalents at the end of Q1 2025 were $495,044, down from $556,785 at the end of Q4 2024[32] - Long-term debt, less current installments, was $1,090,549 as of March 31, 2025, slightly up from $1,085,818 at the end of 2024[32] - Total assets decreased to $4,911,257 in Q1 2025 from $4,956,100 at the end of 2024[32] Strategic Initiatives - The company is evaluating a growing pipeline of attractive inorganic growth opportunities to enhance long-term value for stockholders[5] - The company is focused on leveraging technology, including artificial intelligence and machine learning, to enhance operational efficiencies and patient outcomes[23] - The company closed UT Health East Texas Specialty Hospital, transferring its assets to other facilities, indicating a strategic consolidation effort[35] - The company operated 30 hospitals at the end of Q1 2025, a decrease of 3.2% from 31 hospitals at the end of Q1 2024[34]
Ardent Health Partners, Inc.(ARDT) - 2025 Q1 - Quarterly Results