CHI's operating loss swells to $57M in Q2

Englewood, Colo.-based Catholic Health Initiatives saw its revenue increase and operating loss grow in the second quarter of fiscal year 2019, according to recently released unaudited financial documents.

CHI, which merged with San Francisco-based Dignity Health Feb. 1, reported operating revenues of $3.83 billion in the second quarter of fiscal 2019, which ended Dec. 31. That is a slight increase from the second quarter of fiscal 2018, when CHI recorded operating revenue of $3.82 billion.

CHI kept its expenses in check in the second quarter of fiscal 2019. The health system's expenses before restructuring, impairment and other one-time losses totaled $3.87 billion in the second quarter of fiscal 2019, compared to $3.80 in the same period a year earlier.

After factoring in restructuring, impairment and other losses, CHI recorded an operating loss of $57.24 million in the second quarter of fiscal 2019. That's compared to the same period a year earlier, when the health system reported an operating loss of $1.53 million.

Looking at the six-month period that ended Dec. 31, CHI reported revenue of $7.56 billion and an operating loss of $130.68 million. In the same period of fiscal 2018, the health system recorded revenue of $7.51 billion and an operating loss of $79.41 million.

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