Mercy posts $104M net gain on $8B revenue

Chesterfield, Mo.-based Mercy, which operates 44 hospitals, has reported net income of $104.4 million for the fiscal year ending June 30 versus an almost $300 million net loss in the same period last year.

Most of that profit was due to improved investment returns. The system posted an $11.8 million operating gain compared with a $13.6 million operating loss in 2022.

While revenue rose 7.3 percent to $8.02 billion in fiscal 2023, expenses also increased by a similar percentage to $8 billion. Salaries and benefits rose 5.3 percent to total $4.6 billion.

The system has a total of $2.17 billion in long-term obligations and debt.

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