San Diego-based Scripps Health reported a $73.1 million operating income (5.6% margin) on revenues of $1.3 billion for the first quarter of 2024, ended Dec. 31, 2023, compared to a $5.7 million operating income (0.51%) on revenues of $1.1 billion over the same period in fiscal year 2023, according to its financial report released March 15.
Six things to know:
1. Total expenses were $1.2 billion in the first quarter of 2024, up from $1.1 billion during the same period in 2023.
2. Net income was $326.7 million, up from $162.2 million in 2023.
3. Total investment returns were $263.6 million, up from $160.7 million over the same period in 2023.
4. Total days of cash on hand was 320 in the first quarter of 2024, up from 307 in quarter four of 2023, ended Sept. 30, 2023.
5. Scripps Health reported $1.41 billion in debt in the first quarter of 2024, down 2.6% from $1.45 billion over the same period in 2023.
6. Scripps Health saw 62,171 emergency room visits in the first quarter of 2024, a 6% increase from 58,690 visits over the same period in 2023.