Thank you. Welcome, everyone, to LifePoint Hospital’s First Quarter 2012 Earnings Call. We hope you’ve had a chance to review the press release we issued earlier this morning. After my initial remarks Jeff Sherman, our Chief Financial Officer, will discuss in detail LifePoint’s results for the quarter. After our prepared remarks Jeff and I as well as David Dill, our President and Chief Operating Officer, will be available to answer your questions.
Let me begin by summarizing our results for the first quarter. Revenues from continuing operations grew to $851 million, up 12.2% from the same period last year. EBITDA for the quarter was $165 million, up 14.6% over last year. And EPS for the quarter was $1.16, up 30% over last year.
After taking into account the items noted in our earnings release, adjusted EPS was $0.94 for the quarter. Jeff will discuss this in more detail later.LifePoint delivered a solid first quarter and we continue to stay focused on executing our strategic plan. We’ve benefited from the continued success of our organic investments and recent acquisitions as well as our efforts to provide quality care, improve operational efficiency and develop high-performing talent. This positions us well for the future. Although overall volumes were down impacted by a significant decline in flu during the quarter, we’re pleased by the improvement in surgical volumes, growth in our cardiology program and positive results in other outpatient service lines. We also experienced an increase in intensity during the quarter. Acquisitions continue to play an important role for our company, with opportunities being fueled by the pressures facing the industry as a whole. These pressures are causing more community hospitals to look for opportunities to join strong systems like LifePoint that can help physicians plan for the future. We have the financial, operational and quality resources to help them survive in these challenging times. Our pipeline remains very active. We will continue our disciplined approach to acquisitions.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV