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TheStreet Open House

Lifepoint Hospitals's CEO Discusses Q3 2011 Results - Earnings Call Transcript

William Carpenter

Nelson, thank you very much. Welcome everyone to LifePoint Hospital’s third quarter 2011 earnings call. We hope you’ve had a chance to take a look at the press release we issued this morning. In a few minutes Jeff Sherman, our Chief Financial Officer will discuss in detail LifePoint’s results for the third quarter. After that Jeff and I, as well as David Dill, our President and Chief Operating Officer will answer your questions.

Let me start by summarizing our results for the third quarter. Revenues from continuing operations grew to $877 million, up 5.4% from the same period last year. EBITDA for the quarter was $127 million, up 6.3% over last year and EPS for the quarter was $0.77, up 6.9% over last year. Through the first nine months of the year, our revenues, EBITDA and EPS were up 9.7%, 8.1% and 10% respectively over last year.

We are pleased with our results in the quarter and with the progress that we’ve made throughout 2011. Our quality scores continue to improve. Our acquisitions are performing well. We have very active pipeline and we continue to operate efficiently to control costs. Admissions from continuing operations were up 2.6% and adjusted admissions were up 2.2% versus 2010.

On a same-store basis, admissions were down 0.2%, but adjusted admissions declining 0.9%. As you’ve heard me say, service and quality are key factors in driving value. We strive to be the preferred provider for people in the communities we serve. We are recruiting the right positions in the right communities and we’re on track to achieve our annual recruiting target.

We’re closely working with our positions to optimize critical outcomes, enhance our mutual success and drive performance. Our core measure results are improving across the company and especially in our larger hospitals where we’ve seen the most opportunity. In addition our focus on customer satisfaction continues to produce results as we move toward value-based purchasing.

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