The outlook for the 15-hospital system is stable.
While margins improved in fiscal 2021, Fitch said, there was a sharp drop in 2022. Operating margins are expected to show significant improvement, however, over time.
“Results compressed noticeably in FY22 with a 1.7% operating EBITDA margin,” the research note said. “Despite this degree of margin compression, Fitch would characterize this as roughly in line with industry peers in 2022.”
