HealthSouth Q2 Profit Beats Estimates; Ups 2014 Outlook

(RTTNews) - HealthSouth Corporation (HLS) reported second-quarter income from continuing operations attributable to shareholders of $79.3 million or $0.81 per share compared to $165.1 million or $1.66 per share, prior year. The company said its earnings for the second quarter of 2014 included strong operating results and the $27.2 million, or $0.27 per share, nontaxable gain related to the increase in ownership and consolidation of Fairlawn.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.47 for the quarter. Analysts' estimates typically exclude special items.

Consolidated net operating revenues were $604.4 million, compared to $564.5 million for the second quarter of 2013, or an increase of 7.1%. The company said the increase was attributable to a 3.0% increase in patient discharges and a 4.9% increase in net patient revenue per discharge. Analysts expected revenue of $589.78 million for the quarter.

The company raised its full-year 2014 adjusted EBITDA guidance to a range of $570 million to $580 million from a range of $555 million to $565 million. The company also raised its full-year 2014 guidance for income from continuing operations attributable to HealthSouth per share to $2.25 to $2.31 from $1.86 to $1.91. Analysts expect the company to report 2014 profit per share of $1.91.