Phoenix-based Banner Health posted a $162.7 million operating income in the first six months of 2023, according to its Aug. 31 earnings report.
The 30-hospital system reported an $87.2 million operating loss during the same period last year.
Total revenues at Banner were $6.9 billion in the six months ending June, compared to $6.2 billion year over year. Total expenses were nearly $6.8 billion, up 7.1 percent year over year, with a 4.7 increase in labor costs and a 12.4 percent increase in supply costs.