Children’s Hospital Colorado Health System posts $91.4M profit in first three months of year

Aurora-based Children's Hospital Colorado Health System posted strong financial results for the first three months of 2019, ending the period with net income of $91.4 million, according to recently released documents.

Five things to know:

1. Children's Hospital Colorado Health System, which includes Children's Hospital Colorado, the health system parent and the Children's Hospital Colorado Foundation, reported revenue of $330.1 million in the three months ended March 31. That's a 10 percent increase from $299.3 million in the same three months of 2018.

2. The revenue boost was partially attributable to growth in net patient services revenue, which climbed year over year from $265.4 million to $285 million.

3. Operating expenses grew 9.1 percent year over year in the first three months of 2019.

4. After accounting for expenses, Children’s Hospital Colorado Health System ended the first three months of 2019 with operating income of $33.7 million. That's up 10.8 percent from $30.4 million in the same period a year prior.

5. Children's Hospital Colorado Health System reported strong earnings from its investment holdings, with realized and unrealized gains of $61.3 million, resulting in net income of $91.4 million in the first three months of 2019, up from $31.9 million reported in the first three months of 2018. Overall net income is therefore largely attributable to gains from investing activities, reversing yearend realized and unrealized investment losses of $26.4 million.

 

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