GENESIS HEALTHCARE REPORTS SECOND QUARTER 2017 RESULTS8/8/2017
FOR IMMEDIATE RELEASE
Genesis HealthCare Contact:
REPORTS SECOND QUARTER 2017 RESULTS
KENNETT SQUARE, PA – (August 8, 2017) – Genesis HealthCare (Genesis, or the Company) (NYSE:GEN), one of the largest post-acute care providers in the United States, today announced operating results for the second quarter ended June 30, 2017.
Second Quarter 2017 Results
US GAAP revenue in the second quarter of 2017 was $1.34 billion compared to $1.44 billion in the prior year quarter;
US GAAP net loss attributable to Genesis HealthCare, Inc. in the second quarter of 2017 was $65.2 million compared to $23.0 million in the prior year quarter;
Adjusted EBITDAR in the second quarter of 2017 was $175.4 million compared to $189.4 million in the prior year quarter; and
Adjusted EBITDA in the second quarter of 2017 was $137.1 million compared to $152.4 million in the prior year quarter.
“We delivered a solid quarter despite persistent headwinds and we continued to execute on our plan to divest non-strategic assets, which will allow for increased focus on markets where we have geographic density,” noted George V. Hager, Jr., Chief Executive Officer of Genesis. “During the quarter, our dedicated team of professionals remained focused on the areas of the business we can control. We effectively managed labor and overhead costs, realized record gain share dollars under the Model 3 BPCI program, generated strong operating cash flows and maintained year-over-year Adjusted EBITDAR margins.”