ARDT
Ardent Health, Inc.8.93
+0.03+0.34%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
HIX details clarify guidance caution
Q&A unpacked conservative HIX assumptions driving 2026 guidance: 20% enrollment decline, 10-15% shifting to employer coverage, rest self-pay with 30% lower utilization, creating ~50bps admissions hit. Management detailed IMPACT's $15M uplift mostly in SW&B, confirmed high-single-digit pro fee growth persisting, and outlined ambulatory expansion with five new urgent cares, ASCs, and EDs. Rural Health Fund offers unmodeled upside for a third of hospitals. Pro fees persist. Volumes trended as expected amid strong market demand; team confident IMPACT sustains growth into 2027.
Key Stats
Market Cap
1.28BP/E (TTM)
6.03Basic EPS (TTM)
1.48Dividend Yield
0%Recent Filings
8-K
Q4 flat, FY25 beats guidance
Ardent Health reported Q4 2025 revenue flat at $1.61B amid payor denials, yet full-year revenue hit $6.32B (up 6%) with Adjusted EBITDA at $545M (up 9.3%). IMPACT program gains drove $223M Q4 operating cash flow, up 87%, and leverage fell to 2.5x. Cash swelled to $710M. 2026 guides Adjusted EBITDA $485-535M amid headwinds.
8-K
Ardent authorizes $50M buyback
Ardent Health's board authorized a $50 million stock repurchase program on November 17, 2025, with no expiration date. Funded by cash and operations, it signals conviction in the business amid a strong balance sheet—$609 million cash, 2.5x lease-adjusted net leverage as of Q3 2025 end. Repurchases won't hinder growth pursuits. Flexible firepower.
10-Q
Q3 FY2025 results
Ardent Health posted Q3 revenue of $1.58B, up 8.8% y/y, fueled by 5.8% higher net patient service revenue per adjusted admission from supplemental programs and 2.9% volume gains via 5.8% more admissions. Yet expenses surged on $47.2M New Mexico professional liability accrual and $42.6M revenue reserve from refined collectability estimates, flipping operating income to a slim pre-tax loss while YTD net income to Ardent holds at $90.9M (down 5.5% y/y). Cash swelled to $609M, FCF hit $119.2M (derived), with $1.1B debt steady after Term Loan B refinance to 2032 at SOFR+2.25%. Urgent care buy in Jan 2025 cost $27.5M cash, booking goodwill. Non-GAAP metrics not disclosed in the 10-Q. JV partners delivered steady 29.7% of revenue. Rising malpractice claims pressure reserves.
8-K
Q3 revenue up, EBITDA cut
Ardent Health posted Q3 revenue of $1.58B, up 8.8% Y/Y, with admissions surging 5.8% but swung to a $23M net loss from prior profit. Adjusted EBITDA rocketed 46.3% to $143M despite $43M revenue hit from accounts receivable estimate change and $54M New Mexico liability reserve boost. Guidance cut to $530-555M Adjusted EBITDA; cash flow doubled to $154M. Headwinds persist.
8-K
Ardent refinances term loans
IPO
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