St. Louis-based Ascension reported an operating loss of $466 million (-2.4% margin) for the nine months ending March 31, 2025, compared to a $238 million loss (-1.1% margin) for the previous nine-month period, according to financial documents published May 16.
Seven things to know:
1. In the fiscal third quarter, the three months ending March 31, 2025, Ascension’s recurring operating loss was $68 million, reflecting a $1.4 billion improvement from the fourth quarter of fiscal 2024, the three months ending June 30, 2024, which was affected by the cybersecurity attack. The total operating loss for the fiscal third quarter was $466 million, inclusive of $85 million in one-time, non-cash write-downs and other non-recurring losses.
2. Since the fourth quarter of fiscal 2024, Ascension has “improved recurring operating performance by $1.4 billion, while increasing patient volumes and same-facility revenue,” President Eduardo Conrado said in a May 16 news release. “This momentum reflects the discipline of our teams, the dedication of our caregivers, and a strategy grounded in compassion, performance, and data-driven decision-making.”
3. For the nine months ending March 31, 2025, Ascension reported $19.5 billion in total operating revenue, a decline from $22.4 billion during the same period in fiscal 2024. The decrease is primarily attributed to the number of hospital and facility sales the health system recently completed.
4. For the nine months ending March 31, 2025, total operating expenses were $20 billion, down from $22. 5 billion during the same period in fiscal 2024.
5. Ascension’s recurring operating EBIDA for the first nine months of fiscal 2025 reached $566 million, an EBIDA margin of 2.9% and days cash on hand improved to 218 days. These results reflect “targeted efforts to strengthen operating performance across our system,” Executive Vice President and CFO Saurabh Tripathi said. “We have seen measurable growth in same-facility revenue, patient throughput, and nurse retention — all reinforcing our operational foundation. These results allow us to reinvest in critical areas, including clinical infrastructure, digital innovation, and expanded access in the communities we serve. Our financial strategy remains focused on long-term stability and mission-aligned growth.”
6. After accounting for nonoperating items, such as investments, Ascension reported a net income of $195 million for the nine months ending March 31, 2025, compared to $343 million during the same nine-month period in fiscal 2024.
7. As of March 31, 2025, long-term debt for the health system was $5.6 billion and days of cash on hand was 218. Total assets were $39.4 billion.
