LifePoint Q3 Profit Declines, Raises Annual Guidance

(RTTNews) - LifePoint Hospitals, Inc. (LPNT) Friday reported a drop in third-quarter profit, as the company spent more in employee salaries and benefits, which overshadowed 29.6 percent growth in revenues. Profit as well as revenues fell short of Street view.

Net profit declined to $28.7 million or $0.59 per share, from $34.4 million or $0.68 per share last year. On average, twenty analysts polled by Thomson-Reuters estimated earnings to be $0.74. Analysts' estimates typically exclude one-time items.

Adjusted EBITDA totaled $155.7 million. Prior year adjusted EBITDA amounted to $134.3 million.

LifePoint's revenues grew to $1.17 billion from $899.7 billion in the previous year. Analysts projected revenues to be $1.09 billion.

The company escalated its full year earnings guidance to $3.26 to $3.39 per share from previous guidance of $2.99 to $3.19 per share. Revenue guidance was raised to $4.45 to $4.50 billion from $4.25 to $4.35 billion and increased its adjusted EBITDA forecast to $630 to $640 million from $605 to $620 million.

Analysts see full year earnings of $3.09 per share on revenues of $4.30 billion.