San Diego-based Scripps Health reported $206.2 million in operating income (4.2% margin) in the fiscal year ending Sept. 30, a $242.7 million turnaround from the $36.6 million operating loss (-0.9% margin) in the previous fiscal year.
Revenue increased 14.1% year over year to $4.9 billion while expenses grew by 8.4% to $4.7 billion, according to financial documents published Nov. 6. Labor costs increased 5.4% to $1.9 billion and supply expenses rose 7.8% to $823 million.
Scripps posted a net income of $958.5 million in FY 2024, nearly triple the $335.2 million reported in FY 2023.
As of Sept. 30, long-term debt stands at $1.9 billion.
Scripps did not respond to Becker's request for comment.