CaroMont Health reports positive income for 2nd straight year

Gastonia, N.C.-based CaroMont Health, which holds an "AA-" credit rating, reported net income of $10.3 million for the six months ended Dec. 31, 2022. That figure compared with net income of $40.4 million in the same period in 2021.

While revenues were up slightly to total over $405 million, expenses also rose, but only by just under 5 percent to total $394.3 million. Non-operating losses of under $1 million dipped the final net income figure.

CaroMont is expanding facilities at its 435-bed Gaston Memorial Hospital as well as building a new Belmont, N.C., campus for a combined amount of approximately $411 million.

The hospital system maintains "robust liquidity levels," according to Fitch Ratings, which assigned the "AA-" grade in November.

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