Orlando Health ends most recent quarter with net loss

Listen

Orlando (Fla.) Health ended the year with a net loss after reporting a loss on investments for the three months ended Dec. 31, 2018, according to unaudited financial documents.

Orlando Health saw its revenues fall by $127 million to $788.8 million in the most recent quarter, compared to $915.8 million in the same period a year prior. The nonprofit health system largely attributed the change to the exclusion of Lakeland (Fla.) Regional Health, as the hospital and Orlando Health ended their one-year affiliation Sept. 30, 2018.

Orlando Health also saw its expenses decrease in the most recent quarter due to the exclusion of Lakeland Regional. Orlando Health posted expenses of $713.2 million in the most recent quarter, down 15.1 percent from $840.4 million in the same quarter a year earlier.

For the three-month period, Orlando Health posted operating income of $75.6 million, unchanged from the same period a year earlier.

After including a $79.8 million loss on investments, Orlando Health ended the most recent quarter with a $8.4 million net loss, compared to net income of $115.6 million in the same period a year prior.

More articles on healthcare finance:
Tenet shrinks loss to $5M, plans new $200M cost-cutting drive
Indiana hospital to close in April
2 South Carolina hospitals agree to close, transfer services to new facility

Copyright © 2021 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars