morning and Thank everyone. you, good Tim,
Now a we’ll quarter quarter-over-quarter same-store and discuss second on basis.
As calculations mentioned items this on discussed earlier. a Ross call reminder, exclude
admissions second was increase net comprised adjusted a revenues adjusted in XXXX, increase in of quarter admission. of the X.X%. X.X% X.X% During for and revenues increased This net
net same-store net our revenues mid-single-digit XX% side. the our Tim as earlier, outpatient revenue outpatient And on quarter, second both were growth drove and revenues. the we of During inpatient operating net mentioned similar
Fee-for-Service mix increased points includes Consolidated revenue basis second XX managed shows for other, care of Medicare XXX XX points, XXXX of compared quarter XXX the increased points Advantage, Medicare payer decreased quarter XXXX basis to which increased second basis Medicaid self-pay and basis. and
same-store our admissions by adjusted payer. at Looking
and Medicaid while volumes Medicare self-pay were decreased. Our Advantage care, up Fee-for-Service volumes Medicare managed and our
the and sum XXXX, uncollectible second of year-over-year quarter from revenue increased basis charity adjusted XX discounts of the self-pay care, increase. consolidated an XX.X% During of net to points revenue XX%
related For for expense volume Supplies of commodities points basis than operating salaries percent was spend a revenue more our offset net XX net operating percent as growth. lower as of decreased and to revenue expense the benefits a as same-store increased items, implant surgery same-store flat.
a same quarter to the increase higher in excluding as expense fees, for expense XX revenue second of points insurance claims professional liability was higher expenses estimate expense vendor-related due basis to operating and in incurred subscription the net Other after even Malpractice accrual. from increased IT change our percentage for our the stores costs. operating
Looking operating an basis, basis expense a P&L. XX on at basis. On points consolidated the decreased other adjusted
on the IT improvements driving drive for expense lines. as operating That capital shift the technology improvements more forward, have expense on the said, increased cloud across cloud our going we’re This IT expense line to operating increases have experienced expect we fees expense primary but computing expenditures focused subscription other three and we across expenses. utilized lowers company. While we ongoing SWB fees other technology
preference initiatives, include supply and physician- the mentioned, to see Tim to three improvements follow these later service will This with in forward. we completed for effort purchased more opportunities. expect As have now chain contracting Through all going both incremental we national year. contracting categories
provided $XX by flows This first cash Switching flow. to the of Cash for of cash from were to flow XXXX, million the $XXX compares first operations operations during half half XXXX. of
items prior worth a period. year-over-year the line few there noting at Looking versus increase, the are
payments $XXX from year-over-year from contributed million was the $XX the approximately higher from cash including approximately half offset of year. interest increases lower claims malpractice million million. timing due this $XX contributing approximately We to decreases of have activity, payment outflow refinancing year. working changes, our This recent and more first during capital Other
CapEx. to Turning
Our CapEx of for net half was of XXXX $XXX revenue. the million first or X.X%
of first revenue. half or million X.X% During XXXX, our was the CapEx of $XXX net
We markets, capital focused make high-growth generating toward continue spend. our opportunities on to key investments on and returns remain we in good
divestiture and $XXX QX capacity, From balance sheet. second quarter, $XXX end the ABL approximately $XX.X to debt cash long-term capacity, on have the the had sheet, proceeds. first undrawn Moving perspective, liquidity borrowing approximately the revolver of balance At capacity $XXX debt of borrowing the million at of of a million in of with of of approximately the million maturities billion $XXX in we million. quarter, anticipated current $XXX approximately million we end long-term lien second
first lien covenant net facility is leverage ratio X.XX:X. financial debt credit our under Our currently
first As ratio XX, XXXX, leverage debt of approximately net June is X.XX:X. our lien
We leverage the first expect going forward paydown decrease combination lien of from debt growth. additional net EBITDA ratio and to a debt
which we’re capital deleverage strategic structure, on cash flow. execution our EBITDA same-store growth, to initiatives, drive terms allowing the improved the expect focused to better we of In company the drive and of
guidance, Before good business. Tim’s want start of Wayne reiterate earlier had to XXXX. comments and the I on move Overall, to I some we a to
a We to quarter. first compared quarter stronger have second our
many are track pleased volume We’re of our initiatives with improvements, expanding. continuous and our and on
year, deliver stronger to a we the about than the of second expect the think year second first. half half of we the As
expect benefit in inpatient quarter. our other expense In Medicare Advantage starting mentioned, company. additional fourth and to Tim across savings inpatient final rates the XXXX Medicare we costs drive As rate supply and revenues the Medicare the – will inpatient
year XXXX Now full through our I will walk guidance.
activities. reflect a future refinancing not guidance divestitures our reminder, contemplates XXXX As and does
X.X% Our our adjusted the growth up due range to year. includes We the basis updated XX Same-store up guidance X.X%. start volume following. is strong increased anticipated year points admission by to to be full to
net income to million be operations $XXX $X.XX to million Net average $XXX operating negative to to to revenues be per $XX.X billion. flow divestitures. negative diluted shares XXXX, billion million. billion anticipated at for forecast $X anticipated adjusting is $X.XXX For expected to XXX.X outstanding anticipated share after million CapEx $XXX Adjusted billion to are $X.XXX EBITDA be be $XX.X to is on XXX million. Cash is based of from expected to $XXX weighted million. to is at
the call you. to Wayne, I’ll back return
