Nashville, Tenn.-based Ardent Health reported a net income of $26.3 million (1.8% margin) in the third quarter, up from $20.8 million (1.5% margin) in the same quarter last year.
Third-quarter revenue grew 5.2% year over year to $1.45 billion, reflecting a 3.8% increase in adjusted admissions and 0.9% growth in patient revenue per adjusted admission. Third-quarter expenses increased 4.6% to $1.39 billion.
Adjusted EBITDA for the third quarter increased 15.3% year over year to $98 million, representing a margin expansion of 50 basis points to 6.7%. This growth was primarily driven by higher patient volumes, increased reimbursement rates, strategic service line optimization and cost reductions.
"These results reflect the effectiveness of our consumer-focused growth strategy and operational excellence initiatives," President and CEO Marty Bonick said in a Nov. 6 news release. "We've continued our service line optimization initiatives, enhanced supply chain efficiencies, and furthered our technological drive through deployment of new AI initiatives aimed at supporting our caregivers, driving efficiencies, and elevating clinical outcomes. Collectively our strategic initiatives are driving value, positioning us strongly for continued growth."