Thank you, everyone. good and Chris, morning,
quarter February and volumes coming March net results, by Chris were growing noted, quarter, in and better strong a first than anticipated Our driven the we as into rate.
we any our year. As make the the we to first events first challenging XXXX and earnings we're also we our in had year-end of the significant quarter January going events XXXX significant in weren't to Chris there noted weather weather release, that of noted release of knew quarter in comparisons since that adverse in last
we quickly up February of January in light up -- months. expected, in volumes X March picked XXXX and in each March, of back Volumes those record were volumes and but experienced as
as root a overall rate reduction and resulted the of increasing quarter XXXX noted. Our despite year-over-year hard Medicare of that in first of the was for quarter in to in rate that work increasing effect on a net our on take rate negotiations percentage continue first that Chris most business comp and focus workers'
of in Medicare down negative brought by year. XQ $X.X earnings standpoint, we for of about reduction the weather adjusted noted then our impact 'XX to From the was that first in the million $X.X of EBITDA We XXXX the compared about $XX.X EBITDA million. EBITDA million our quarter January an reported and million adverse release $XX.X prior in rate a
were this of quarter of shares the results On year that the a quarter $X.XX in in built on quarter related offering in -- Our associated of last versus and 'XX $X.X operating decrease with per of the of basis we and results that's the first basis, share a first were million the because $X.XX share in of 'XX. quarter first and had operating completed secondary the we May 'XX. the increase year, to that first
XX.X% the highest that per in the first second XX.X% the January clinic history in quarter per was is volume year. XX.X%, first quarter, and to company's million for that first the the visits in in average to we was quarter which $XX.X only day XXXX. compares previous the Our second of at had
visits had of first per average per that's months, ever or March XX, So per XX.X%, with above month. strong And year.
Volumes those we're XX north XX.X% but down were the the same day both at Chris from higher to ever, and of per was we've February the previous record time visits our in and than just average a April visits company and day was for at the day XX.X%. noted, in XX.X%, continued at as then high number months average
The our commercial was through of increase X.X%. our workers' on of with then the was to was, that Medicare of of rate business. $X.XX, was rate increase first largely despite in quarter rates quarter reduction for priority net again, increasing other Our payers of the $XXX.XX first most that comp in fact, 'XX, contract strategic growing an and related reimbursement negotiations focus and our which
initiatives mix the first X.X% was highest increasing revenue increases And other first and rate of year. our to both first of categories which of 'XX high will of categories, rate negotiations in throughout in rate of of net quarter year last Excluding the of is Medicare, than quarter remain versus net workers' increased to the from business our our up rate quarter comp, 'XX. the Workers' each major the one in Medicare. X.X% comp XX% priorities with the those
we was by quarter from rate increase first million net and rate. XXXX, which of our of year on physical first we X.X% million year in an that the revenues the from Medicare $X.X reduction. Our were setbacks than therapy in had or last average quarter this despite increase the driven quarter the having $XXX.X first weather clinics of the last The in XX the more was year, had of increase with in coupled
the an first quarter, -- basis, the $XX prior physical Our $XX.XX our of in first of quarter quarter on up in XXXX. in from the visit were in over under part XX first more year, therapy year.
On million, operating last a than in operating of clinics X.X% quarter due were costs total to which just $XXX.X first the of having average costs which was was the the quarter first increase per
high operating to normal we per in because Our it had the visit. visits, to levels average returned cost January visit per February averaged less then $XX.XX leverage in number March, more lower and of which and due was
but were related in quarter That first in 'XX. to in in again, we January, in costs the visit, more high of averaged that first salaries-related was returned story. $XX.XX then Our XXXX. February first 'XX, that $XX.XX they March, $XX.XX and the normal levels the comparable those which but salaries to costs of is were which $XX.XX per and saw same the really quarter was quarter They from up
quarter, in Chris combined the almost January XXXX Our In first also of very and February quarter in our XX.X% income quarter [ physical revenues -- That it XX.X% increased which having was by was a margin up XX.X% but the great the quarter XX.X% first basis, increased and operating that margin is first XX%. then to first talked due therapy of IIP the 'XX increased of March to first back on a in XXXX. from job for XX.X% to to up impacted was to they was ] which and close leverage, what did. margin IIP 'XX. were about the XX%. quarter margin, less
of $XXX,XXX in loan in below it's had put we an in alone, well on our that that favorable funds current a agreement the of place quarter place sheet be interest debt places X.X%, rate. that swap term cumulative $X.X rate balance expense XXXX. continues saved savings swap debt to Our the at know, a the and very the in us $XXX Fed agreement of with as since is position. on first in rate you million quarter excellent with XXXX We which, in In third of the market, today's million
loan, that approximately and first credit of acquisitions excess deployed million we for quarter, for over term of last facility and ready we we the $XXX cash $XX that what also initiatives. week, acquisitions over $XXX Including during have have nothing this it deployment the we've had drawn announced to XX into million working cash a so addition need growth on million capital, far In the revolving into year. we April above just
our release, XXXX As million $X.X we That's the we're range. raising on an noted to $XX.X ends the guidance our of of in to $XX.X million both year of range EBITDA increase million. full for
Our a place be versus rate Medicare a guidance rates of X.X% considered for reduction year's would in previously all that last XXXX.
confidence from that XXXX in not X it in Medicare Appropriations to It in effective range the and of and the that of rate put However, the X-K X.X% continued effect our first XXXX early progress X.X% the outperformance forward change, March in though addressed of Consolidated be adjusted strong in it's X.X%.
The March, Act through the rate that's due but that's raise the the retro volumes at to to rather related Congress $X expectations and by beginning Medicare XXXX. our X year, the reduction to of February as that to internal even in March will March more an just of us was than noted our from reduction reduction in X.X% gives end than year. we quarter that the out the we million
end so they in the of to July as our guidance. and far contribution were in one closed are acquisitions expect this included by that reminder, guidance just from we the their year previous close As another EBITDA we've expected a
closing, revenue, first internal our was In and our and March expectations. volume, February margin were quarter perspective. strong from a of EBITDA ahead months
day in the net Medicare quarter, the of we a per we and grew with of reduction rate first most we over Our by good momentum for very the as quarter in guidance in $X.X X.X% had quarter even visits second evidenced start year, average as increased that prior place by full first year And those to things. April. our reflect million our all
you. to So Chris, the call with back turn I'll that,
