Ardent Health, Inc. · NYSE:ARDT
Ardent Health — Q1 2025 Earnings Presentation
14 slides from Ardent Health's earnings presentation, May 7, 2025
Slide 1: 1Q25 Earnings Presentation
1Q25 Earnings Presentation May 6, 2025
Slide 2: Important Disclaimers: Forward-Looking Statements
Important Disclaimers Forward-Looking Statements This presentation may contain certain “forward-looking statements,” as that term is defined in the U.S. federal securities laws. These forward-looking statements include, but are not limited to, statements other than statements of historical facts, in
Slide 3: Important Disclaimers: Non-GAAP Financial Information
Important Disclaimers Non-GAAP Financial Information We have included certain financial measures in this presentation that have not been prepared in a manner that complies with U.S. generally accepted accounting principles ("GAAP"), including Adjusted EBITDA and Adjusted EBITDAR. We define these ter
Slide 4: 1Q25 Results Summary
1Q25 Results Summary Solid 1Q25 results reflect the successful execution of our strategic priorities and puts ARDT firmly on track to achieve full-year 2025 financial guidance. 1Q25 Durable demand: Strong underlying volumes YoY % drove Adjusted Admissions growth of 2.7%, Amount Growth tracking towar
Slide 5: 1Q25 Financial Performance
1Q25 Financial Performance Adjusted EBITDA Total Revenue Adjusted EBITDA Margin +4.0% +2.5% (10)bps Margin Y/Y % Growth Y/Y % Growth Decline $1.50B $1.44B $95.8M $98.2M 6.7% 6.6% 1Q24 1Q25 1Q24 1Q25 1Q24 1Q25 See appendix for reconciliation of Non-GAAP financial metrics, including Adjusted EBITDA an
Slide 6: 1Q25 Operating Highlights
1Q25 Operating Highlights Overall volume trends were strong Adjusted Admissions Net Patient Service Revenue per Adjusted Admissions Net patient service revenue per adjusted +2.7% +1.2% admission increased 1.2% year-over-year, or 1.9% excluding the oncology/infusion service transfer. Admissions incre
Slide 7: Capital Structure to Support Opportunistic Growth
Capital Structure to Support Opportunistic Growth Strong balance sheet and ample liquidity to support growth strategy Available Liquidity Net Leverage Ratio Profile ABL Capacity Net Leverage 1 Total Cash Lease-Adjusted Net Leverage 2 $790M 4.3x $295M 3.0x 2.6x 1.4x $495M 1Q25 1Q24 1Q25 1. Net levera
Slide 8: Operating Highlights: Payor Mix
Operating Highlights: Payor Mix 1Q25 Payor Mix 1Q24 Payor Mix % of Net Patient Service Revenue % of Net Patient Service Revenue 5.5% 5.5% Self-Pay & Other Self-Pay & Other 40.5% Medicare 40.2% Medicare 43.8% Managed Care 43.3% Managed Care 10.2% Medicaid 11.0% Medicaid Medicaid payor mix decreased b
Slide 9: Full-Year 2025 Guidance
Full-Year 2025 Guidance Full Year 2025 Dollars in millions, except per share data Guidance Total revenue $6,200 – $6,450 Guidance Assumptions Net income attributable to Ardent Health Partners, Inc. $245 – $285 Outlook includes expected benefit from the full-year impact of Oklahoma and New Mexico sta
Slide 10: Long-Term Growth Algorithm after 2025
Long-Term Growth Algorithm after 2025 Organic Total (Including Capital Deployment) • Acute care hospital M&A (new and adjacent markets) Revenue • Split roughly evenly between volume • Ambulatory build-out (M&A & de novo) in MSDs HSDs Growth and rate existing markets, which also creates downstream in
Slide 11: Key Takeaways
Key Takeaways Ardent is well positioned to drive consistent, durable top- and bottom-line growth of MSD-HSDs in 2026+ EXPAND IMPROVE INVEST Attractive Assets/Footprint Margin Expansion Levers Capital Deployment Augments Growth • Strong footprint in eight growing mid- • Expect 100-200bps of core marg
Slide 12: APPENDIX
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Slide 13: Non-GAAP Reconciliations
Non-GAAP Reconciliations Three Months Ended March 31, 2025 2024 (in thousands) Net income $ 58,965 $ 45,851 Income tax expense (benefit) 15,233 10,713 Interest expense 14,176 19,261 Depreciation and amortization 36,201 35,351 Noncontrolling interest earnings (17,582) (18,804) Other non-operating los
Slide 14: Non-GAAP Reconciliation: Full-Year 2025 Guidance
Non-GAAP Reconciliation: Full-Year 2025 Guidance Full Year Ending December 31, 2025 Low High (in Millions) Net income $342 $386 Income tax expense 91 101 Interest expense, net 63 59 Depreciation and amortization 146 143 Noncontrolling interest earnings (97) (101) Cybersecurity Incident recoveries, n