Original budgets for the first part of fiscal 2023 targeted a slightly positive full-year operating margin, but data shows a $75 million lower-than-forecasted figure, S&P Global said. Operating income showed a loss of $154.5 million for the six months ending Dec. 31 compared with a $48.8 million loss in all of fiscal 2022.
“The downgrade reflects unexpected operating losses in fiscal 2022 that have rapidly escalated through the first half of fiscal 2023 and contributed, along with weak investment market performance, to materially thinner unrestricted reserves relative to both operating expenses and debt outstanding,” the research note stated.
The outlook for Penn State Health remains stable amid continued strong demand for its services and increased capacity.
Penn State Health is jointly owned by Pittsburgh-based Highmark and Penn State University with a flagship teaching hospital in its Hershey Medical Center. It also operates a 128-bed Children’s Hospital as well as four other hospitals whose total licensed bed capacity is 773.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
