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Ardent Health, Inc.

ARDT · Health Care

Last earnings Sep 4, 2026

Key results

RevenueQ3 2025

9%

Additionally, revenue and adjusted EBITDA increased 9% and 46% , respectively, and year-to-date adjusted EBITDA through the third quarter grew 30%.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

Revenueytd

46%

Additionally, revenue and adjusted EBITDA increased 9% and 46% , respectively, and year-to-date adjusted EBITDA through the third quarter grew 30%.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

Total revenuequarter

8.8%

2 Financial Performance Summary For the third quarter of 2025 Total revenue grew 8.8% year-over-year to $1,577 million .

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

Revenuequarter

2.9%

The growth in total revenue resulted primarily from a 2.9% increase in adjusted admissions and 5.8% growth in net patient service revenue per adjusted admission year- over-year.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

Excluding the impact of a $43 million reduction to revenue resulting from a change in accounting estimate, as discussed below, total revenue grew 11.7% year-over-year.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

Two non-recurring items impacted reported third quarter 2025 financial results During the third quarter, a change in accounting estimate resulting from a modification to the technique used to estimate the collectability of accounts receivable and new information provided by recently completed hindsight evaluations of historical collection trends resulted in a decrease in revenue of $43 million .

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

The $43 million adjustment is reflected in total revenue for the quarter but excluded from adjusted EBITDA.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

Net incomequarter

1.9 %

$ 90,855 1.9 % $ 96,139 2.2 % Net income per share Basic $ 0.65 $ 0.74 Diluted $ 0.64 $ 0.74 Weighted-average common shares outstanding Basic 140,569,409 129,877,510 Diluted 141,242,065 130,022,643 9 Ardent Health, Inc.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

(4) Change in accounting estimate reflects the reduction in total revenue of $42.6 million and its $0.7 million impact on noncontrolling interest earnings as a result of a change in its accounting estimate of the collectability of accounts receivable as further described above.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

AI analysis

Q3 2025 · reported Nov 12, 2025

Based on: Earnings release + parent 8-K — transcript not held

Headline figures

MetricQ3 2025Prior qtrYear ago
Revenue9%——
Total revenue8.8%——
Net income1.9 %——

EX-99 · Nov 12, 2025

Guidance · company-stated

Direction: Raised

Revenue$1.58 billion

“Total Revenue $1.58 billion 8.8% growth Y Y Net Loss Attributable to Ardent Health $23 million Adjusted EBITDA (1) $143 million 46.3% growth Y Y Adjusted EBITDAR (1) $184 million Admissions 5.8% growth Y Y Adjusted Admissions 2.9% growth Y Y Net Patient Service Revenue per Adjusted Admission 5.8% growth Y Y Revising 2025 Adjusted EBITDA (1) Guidance Reaffirming Total Revenue $6,200 - $6,450 million Revising Adjusted EBITDA (1) $530 - $555 million (1) Adjusted EBITDA and Adjusted EBITDAR are financial measures that have not been prepared in a manner that complies with U.”

Company outlook

“Admissions grew 5.8% , adjusted admissions increased 2.9% (near the high end of our 2025 guidance of 2-3%), and total surgeries trended positive for the first time this year, rising 1.4% .”

Revenue

“2025 Financial Guidance The Company is reaffirming its full-year 2025 revenue guidance, which at the midpoint is an increase of 6% from 2024 .”

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Capital allocation

EPS2.0%

1 Lease-adjusted net leverage ratio is defined as the Company's net debt as of September 30, 2025 , plus 8x trailing twelve-month real estate investment trust ( REIT ) rent expense as of the end of the third quarter of 2025 , divided by trailing twelve-month Adjusted EBITDAR as of September 30, 2025 .

Company-stated claims

Feb 26, 2025

Historical · increased 213% · ebitda

“Adjusted EBITDA increased 213% year-over-year to $183 million.”

EX-99 · Feb 26, 2025
General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

See the footnotes to the Operating Statistics table of this press release for definitions of the metrics below and a full list of key operating metrics

Based on: Earnings release + parent 8-K — transcript not held

Guidance & outlook

Direction: Raised

Revenue: “Total Revenue $1.58 billion 8.8% growth Y Y Net Loss Attributable to Ardent Health $23 million Adjusted EBITDA (1) $143 million 46.3% growth Y Y Adjusted EBITDAR (1) $184 million Admissions 5.8% growth Y Y Adjusted Admissions 2.9% growth Y Y Net Patient Service Revenue per Adjusted Admission 5.8% growth Y Y Revising 2025 Adjusted EBITDA (1) Guidance Reaffirming Total Revenue $6,200 - $6,450 million Revising Adjusted EBITDA (1) $530 - $555 million (1) Adjusted EBITDA and Adjusted EBITDAR are financial measures that have not been prepared in a manner that complies with U.”

Company outlook: “Admissions grew 5.8% , adjusted admissions increased 2.9% (near the high end of our 2025 guidance of 2-3%), and total surgeries trended positive for the first time this year, rising 1.4% .”

Revenue: “2025 Financial Guidance The Company is reaffirming its full-year 2025 revenue guidance, which at the midpoint is an increase of 6% from 2024 .”

Revenue — Reiterated (“Reaffirming”)
“Total Revenue $1.58 billion 8.8% growth Y Y Net Loss Attributable to Ardent Health $23 million Adjusted EBITDA (1) $143 million 46.3% growth Y Y Adjusted EBITDAR (1) $184 million Admissions 5.8% growth Y Y Adjusted Admissions 2.9% growth Y Y Net Patient Service Revenue per Adjusted Admission 5.8% growth Y Y Revising 2025 Adjusted EBITDA (1) Guidance Reaffirming Total Revenue $6,200 - $6,450 million Revising Adjusted EBITDA (1) $530 - $555 million (1) Adjusted EBITDA and Adjusted EBITDAR are financial measures that have not been prepared in a manner that complies with U.”

Company outlook — Raised (“increased”)
“Admissions grew 5.8% , adjusted admissions increased 2.9% (near the high end of our 2025 guidance of 2-3%), and total surgeries trended positive for the first time this year, rising 1.4% .”

Revenue — Raised (“increase”)
“2025 Financial Guidance The Company is reaffirming its full-year 2025 revenue guidance, which at the midpoint is an increase of 6% from 2024 .”

Classified from the release's primary full-year outlook statement.

Capital allocation

1 Lease-adjusted net leverage ratio is defined as the Company's net debt as of September 30, 2025 , plus 8x trailing twelve-month real estate investment trust ( REIT ) rent expense as of the end of the third quarter of 2025 , divided by trailing twelve-month Adjusted EBITDAR as of September 30, 2025 .

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

3 Balance Sheet, Cash Flow Liquidity Update As of September 30, 2025 , the Company had total cash and cash equivalents of $609 million and total debt of $1.1 billion .

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

$245 $285 $121 $146 Adjusted EBITDA $575 $615 $530 $555 Rent expense payable to REITs $164 $164 $164 $164 Diluted earnings per share $1.73 $2.01 $0.85 $1.03 Adjusted admissions growth 2.0% 3.0% 2.0% 3.0% Net patient service revenue per adjusted admission growth 2.1% 4.4% 2.1% 4.4% Capital expenditures $215 $235 $215 $235 The Company s guidance is based on current plans and expectations and is subject to a number of known and unknown uncertainties and risks, including those set forth below under the heading Forward-Looking Statements.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

The Company does not forecast the impact of items such as, but not limited to, losses (gains) on sales of facilities, losses on retirement of debt, legal claim costs (benefits) and impairments of long-lived assets.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

Strategy & priorities

While we continue to execute on our strategic priorities, certain industry headwinds are persisting more than anticipated, added Bonick.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

We have also launched focused initiatives in precision staffing, supply chain discipline, and OR excellence.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

With a focus on people and investments in innovative services and technologies, Ardent is passionate about making healthcare better and easier to access.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

These forward-looking statements include, but are not limited to, statements other than statements of historical facts, including, among others, statements relating to our future financial performance, our business prospects and strategy, anticipated financial position, liquidity and capital needs, the industry in which we operate and other similar matters.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

Risks & headwinds

While we continue to execute on our strategic priorities, certain industry headwinds are persisting more than anticipated, added Bonick.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

We remain confident in our ability to deliver long-term shareholder value while effectively managing near-term challenges, stated Bonick.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

The increase in reserves included an adjustment of $54 million attributable to the emergence of adverse prior period claim developments with respect to recent settlements and ongoing litigation arising from a limited set of claims between 2019 and 2022 in New Mexico for a single provider who the Company no longer employs, as well as consideration of broader industry trends, including social inflationary pressures.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

$245 $285 $121 $146 Adjusted EBITDA $575 $615 $530 $555 Rent expense payable to REITs $164 $164 $164 $164 Diluted earnings per share $1.73 $2.01 $0.85 $1.03 Adjusted admissions growth 2.0% 3.0% 2.0% 3.0% Net patient service revenue per adjusted admission growth 2.1% 4.4% 2.1% 4.4% Capital expenditures $215 $235 $215 $235 The Company s guidance is based on current plans and expectations and is subject to a number of known and unknown uncertainties and risks, including those set forth below under the heading Forward-Looking Statements.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward- looking statements.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

(2) Cybersecurity Incident recoveries, net represent insurance recovery proceeds associated with the Cybersecurity Incident, net of incremental information technology and litigation costs.

SEC original ↗Ardent Health, Inc. — Earnings release (8-K exhibit)EX-99Nov 12, 2025

Documents

Earnings deck slides

0 decks with slide view

Ardent Health, Inc. — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Ardent Health, Inc. — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

Gilead Sciences (GILD) Health CareGenmab (GMAB) Health CareAlcon (ALC) Health CareArgenx (ARGX) Health CareSanofi (SNY) Health CareMerck & Co. (MRK) Health CareXencor Inc (XNCR) Health CareIllumina, Inc. (ILMN) Health Care

Filings

35 documents

Earnings releases

10 documents

Presentations

2 documents

Transcripts

0 documents

No transcripts for Ardent Health, Inc. are held in this edition of the library.

Mentioned by

1 company

Other tracked companies whose held documents mention Ardent Health, Inc. by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.