Financial Performance - Total revenue for Q3 2025 was $1.58 billion, representing an 8.8% year-over-year growth[3] - Net loss attributable to Ardent Health was $23 million, or $0.17 per diluted share, compared to a net income of $26 million, or $0.19 per diluted share in Q3 2024[10] - Adjusted EBITDA increased by 46.3% year-over-year to $143 million[10] - Total revenue for Q3 2025 was $1,576,746, an increase of 8.8% compared to $1,449,817 in Q3 2024[29] - Net income attributable to Ardent Health, Inc. for Q3 2025 was a loss of $23,478, compared to a profit of $26,322 in Q3 2024[29] - Total revenue for the nine months ended September 30, 2025, was $4,719,260,000, reflecting an 8.2% increase from $4,359,783,000 in 2024[38] Operational Metrics - Admissions grew by 5.8% year-over-year, with adjusted admissions increasing by 2.9%[11] - Total surgeries increased by 1.4% year-over-year, driven by a 9.7% growth in inpatient surgeries[11] - Admissions increased by 6.7% to 124,786 for the nine months ended September 30, 2025, compared to 116,995 in 2024[38] - Inpatient surgeries rose by 7.4% to 28,822 in 2025, up from 26,829 in 2024[38] - Average length of stay increased to 4.68 days in 2025 from 4.62 days in 2024, a 1.3% increase[38] Financial Guidance - The company is revising its 2025 adjusted EBITDA guidance to $530 million to $555 million, reflecting a 9% increase from 2024[12] - The company reaffirmed its full-year 2025 revenue guidance of $6,200 million to $6,450 million, indicating a 6% growth from 2024[14] - The company provided guidance for adjusted EBITDA for the full year ending December 31, 2025, in the range of $530 million to $555 million[58] Cash Flow and Liquidity - Operating cash flow for Q3 2025 was $154 million, up from $90 million in Q3 2024[9] - Net cash provided by operating activities increased to $247,075,000 in 2025 from $195,457,000 in 2024, representing a 26.4% increase[34] - Cash and cash equivalents at the end of the period rose to $609,441,000, up from $563,142,000 at the end of 2024[34] - The company had total cash and cash equivalents of $609 million and total debt of $1.1 billion as of September 30, 2025[8] Expenses and Liabilities - Total operating expenses for Q3 2025 were $1,578,949, up from $1,392,750 in Q3 2024, reflecting a 13.4% increase[29] - Salaries and benefits accounted for 42.9% of total revenue in Q3 2025, compared to 43.8% in Q3 2024[29] - Total liabilities increased to $3,522,526,000 as of September 30, 2025, from $3,433,743,000 as of December 31, 2024[36] Risks and Challenges - The company faces risks including changes in healthcare policy, reimbursement rates, and economic conditions that could impact future performance[24] - A significant increase in professional liability reserves of $54.468 million was recorded, primarily due to adverse prior-period claim developments in New Mexico[48] Other Financial Metrics - Interest expense for Q3 2025 was $13,914, slightly down from $14,629 in Q3 2024[29] - Adjusted EBITDAR is used as a valuation measure, excluding certain expenses to allow comparison with other healthcare companies[21] - The change in accounting estimate resulted in a reduction of total revenue by $42.6 million, impacting noncontrolling interest earnings by $0.7 million[47] - Restructuring, exit, and acquisition-related costs amounted to $3.040 million for the three months ended September 30, compared to $3.796 million in the prior year[46] - Cybersecurity incident recoveries, net, were reported at $(2.950) million for the three months ended September 30, down from $(4.976) million in the previous year[52]
Ardent Health Partners, Inc.(ARDT) - 2025 Q3 - Quarterly Results