Ardent Health Partners, Inc. reported a total revenue of $1.497 billion for the three months ended March 31, 2025, marking a 4.0% increase from $1.439 billion in the same period last year. The company's net income attributable to Ardent Health Partners rose significantly to $41.4 million, compared to $27.0 million in the prior year, resulting in a diluted earnings per share of $0.29, up from $0.21. The increase in revenue was driven by a 2.7% rise in adjusted admissions and a 1.2% increase in net patient service revenue per adjusted admission, reflecting growth in both admissions and emergency room visits.
Operating expenses for the quarter totaled $1.423 billion, up from $1.382 billion a year earlier, primarily due to higher patient volumes. However, as a percentage of total revenue, operating expenses decreased to 95.0% from 96.1%, aided by a notable increase in other non-operating gains, which included $21.5 million in insurance recovery proceeds related to a previous cybersecurity incident. Salaries and benefits increased to 43.9% of total revenue, up from 43.2%, largely due to a rise in equity-based compensation.
In terms of strategic developments, Ardent Health completed the acquisition of 18 urgent care clinics in New Mexico and Oklahoma for $27.5 million on January 1, 2025. This acquisition is expected to enhance the company's service offerings and market presence. Additionally, the company has been actively managing its debt, with a recent repricing of its Term Loan B Facility that reduced the applicable interest rate by 50 basis points, reflecting improved financial conditions post-IPO.
As of March 31, 2025, Ardent Health operated 30 acute care hospitals across six states, with a total of 4,281 licensed beds. The company reported a total cash and cash equivalents balance of $495 million, alongside available liquidity of $790 million, which includes $295 million in available capacity under its asset-based revolving credit facility. Looking ahead, Ardent Health anticipates continued growth driven by strategic acquisitions and operational efficiencies, although it remains vigilant regarding potential regulatory changes and market conditions that could impact its financial performance.
About Ardent Health Partners, Inc.
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