Essentia Health's operating income rebounds to $40M in Q1

Duluth, Minn.-based Essentia Health saw its operating income rebound in the first quarter of 2021, according to financial results released May 19. 

The hospital system ended the first quarter this year with an operating income of $40.3 million. This compares to a $31.9 million operating loss in the first quarter of 2020.

Essentia Health saw its revenue increase 13.7 percent to $609 million in the quarter ending March 31. Expenses also rose year over year to $539.4 million, up from $537.2 million in 2020. 

After factoring in non-operating gains, Essentia Health recorded a net income of $57.1 million in the first quarter of this year. In the same period last year, Essentia Health posted a net loss of $200 million. 

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