0001628280-26-070163
SEC filingArdent Q3 2026营收增至$1,625M、净利转正$45M，IMPACT降本与调整后入院量回升驱动，并上调全年Adjusted EBITDA指引。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Total revenue | $1,624,856 thousand | $1,576,746 thousand | 3.1% |
| Net income (loss) attributable to Ardent Health, Inc. | $44,516 thousand | $(23,478) thousand | — |
| Diluted EPS | $0.31 | $(0.17) | — |
| Adjusted EBITDA (Non-GAAP) | $137,747 thousand | $45,252 thousand | — |
| Adjusted EBITDA margin (Non-GAAP) | 8.5% | 2.9% | — |
| Adjusted EBITDAR (Non-GAAP) | $179,622 thousand | — | — |
| Operating Cash Flow | $122 million | — | — |
| Adjusted admissions | 91,933 | 89,328 | 2.9% |
| Admissions | 41,899 | 41,862 | 0.1% |
| Total surgeries | 31,934 | 32,545 | (1.9%) |
| 期间 | 指标 | 指引 | 口径 |
|---|---|---|---|
| FY2026 | Total revenue | $6,400 – $6,700 million | N/A |
| FY2026 | Adjusted EBITDA | $500 – $535 million | Non-GAAP |
| FY2026 | Net income attributable to Ardent Health, Inc. | $132 – $167 million | GAAP |
| FY2026 | Diluted earnings per share | $0.93 – $1.18 | GAAP |
| FY2026 | Adjusted admissions growth | 1.5% – 2.5% | N/A |
| FY2026 | Capital expenditures | $210 – $250 million | N/A |
Q3 2026总营收$1,624,856 thousand，同比增长3.1%，增长几乎全部来自调整后入院量+2.9%（入院量仅+0.1%，总手术量-1.9%），净患者服务收入/调整后入院量$17,370（+0.7%）。利润端改善显著：Salaries and benefits降至$647,940 thousand（占营收39.9%，去年同期42.9%），管理层称SWB费用下降4%，叠加IMPACT计划年内至少$70 million节省目标，推动Adjusted EBITDA达$137,747 thousand、margin 8.5%（去年同期2.9%）；净利转正至$44,516 thousand、稀释EPS $0.31，去年同期亏损中含$7,344 thousand债务清偿损失。调整项中企业重组费用$5,360 thousand、ERP转换成本$5,913 thousand、股权激励$7,313 thousand为主要非GAAP加回项。
指引方面，公司将FY2026 Adjusted EBITDA上调至$500–535 million（原$485–535 million，中点上调1.5%），营收维持$6,400–6,700 million，稀释EPS上调至$0.93–$1.18，资本开支下调至$210–250 million。资本配置上，Q3回购1.0 million股、耗资$11 million，董事会批准回购授权增加$25 million，期末剩余约$48 million；期末现金$766 million、总债务$1.1 billion、lease-adjusted净杠杆2.5x，可用流动性$1 billion。管理层并披露已就堪萨斯医院将全部所有权转让给合资伙伴签署最终协议，预计提升利润率并释放资本用于核心市场增长；主要风险包括Medicare/Medicaid支付政策变化、OBBBA影响、商业支付方拒付及德州/俄克拉荷马州集中度。