American Renal Associates Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Full Year of 2018
For the year, the company reported net patient service operating revenues of $745,106,000 compared to $749,767,000 a year ago. Operating income was $106,458,000 compared to $126,807,000 a year ago. Income before income taxes was $83,877,000 compared to $87,452,000 a year ago. Net income was $75,683,000 compared to $88,205,000 a year ago. Net income attributable to the company was $4,857,000 or $0.24 per basic and diluted loss per share compared to loss of $385,000 or $0.28 per diluted share a year ago. Cash provided by operating activities was $128,547,000 compared to $172,211,000 a year ago. Purchases of property and equipment were $36,073,000 compared to $61,432,000 a year ago. Adjusted EBITDA (including noncontrolling interests) was $176,357,000 compared to $212,172,000 a year ago. Adjusted EBITDA-NCI was $105,531,000 compared to $123,582,000 a year ago. Adjusted net income attributable to the company was $2,550,000 or $0.61 per share. Adjusted cash provided by operating activities was $129,264,000 compared to $174,450,000 a year ago. Total capital expenditures were $36,073,000 compared to $61,432,000 a year ago.
The company provided earnings guidance for the full year of 2018. The company expects 2018 adjusted EBITDA-NCI to be in a range of $110 million and $116 million.