AmSurg reported its first quarter financial results for the year.
Here are 19 things to know:
Ambulatory services
1. The company's net revenues for ambulatory services reached $307.1 million, up 8 percent from $283.9 million for the first quarter the year prior.
2. Same-center revenue rose 8.8 percent. Of this figure, there was a 5 percent increase in procedures per day, 1.7 percent increase in additional operating days and a 2.1 percent increase in net revenue per procedure.
3. Adjusted EBITDA rose 13 percent to $53.6 million from $47.3 million for the first quarter of 2015.
4. The company currently operates 256 ASCs and one surgical hospital.
5. At the end of the quarter, AmSurg had six ASCs under letter of intent and one center under development. The center is expected to open later this year.
Full company
6. Net revenues reached $724.7 million, a 27 percent increase from $570.4 million for the same quarter of 2015.
7. Net earnings attributable to AmSurg common shareholders hit $28.6 million.
8. AmSurg had adjusted net earnings of $46.6 million, up 47 percent from the first quarter last year.
9. Net earnings per diluted share attributable to AmSurg common shareholders were $0.53.
10. AmSurg's adjusted EBITDA was $120.1 million, a 28 percent increase from the first period of 2015.
11. As of March 31, 2016, AmSurg had cash and cash equivalents of $85.9 million.
12. Net cash flows from operations were $25 million.
Physician services
13. Net revenues hit $417.5 million, up 46 percent from $286.5 million for the first quarter of 2015.
14. AmSurg's adjusted EBITDA hit $66.5 million, up from $46.4 million during the same period the year prior.
2016 guidance
15. AmSurg expects revenues between $3.09 billion and $3.13 billion.
16. For ambulatory services, the company expects a same-center revenue increase of 4 percent to 6 percent.
17. The company projects same-contract revenue growth between 4 percent and 6 percent in physician services.
18. AmSurg expects adjusted EBITDA between $592 million and $601 million.
19. The company anticipates adjusted earnings per share between $4.28 and $4.35.
"AmSurg had a great start to 2016 with a substantial increase in first-quarter revenues and adjusted EPS, driven primarily by nearly $1 billion of acquisitions completed in 2015," said Christopher A. Holden, president and CEO, AmSurg.
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