LifePoint Health Inc. (LPNT) on Friday reported a net loss for the fourth quarter on lower revenues and one-time charges. Excluding items, the company reported adjusted earnings for the quarter.
Fourth-quarter net loss attributable to LifePoint Health was $27.5 million or $0.70 per share, compared to net income of $43.9 million or $1.07 per share in the same period last year.
The latest quarter’s results include among other items, aggregate impairment charges of $43.2 million or $0.69 loss per share, to write-down the carrying values of certain long-lived assets at two of the company’s hospitals.
Excluding items, normalized earnings for the quarter were $0.77 per share. On average, analysts polled by Thomson Reuters expected the company to earn $0.83 per share for the quarter.
Revenue for the quarter declined to $1.49 billion from $1.61 billion in the year-ago period. Analysts had a consensus revenue estimate of $1.58 billion.
Looking ahead to fiscal 2018, LifePoint Health forecast earnings in a range of $4.00 to $4.53 per share and revenues of $6.35 billion to $6.43 billion. The Street expects earnings of $4.07 per share for the year on revenues of $6.49 billion.
by RTT Staff Writer
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