LifePoint Health, Inc. (NASDAQ:LPNT) today announced results for the third quarter and nine months ended September 30, 2016.

For the third quarter ended September 30, 2016, consolidated revenues were $1,585.7 million, up 21.1% from $1,309.5 million for the same period last year, primarily as a result of the Company’s recent acquisitions. Net income for the third quarter ended September 30, 2016, was $41.2 million, down $4.6 million, or 10.0%, compared with net income of $45.8 million for the same period last year. Net income for the third quarter ended September 30, 2016, includes accelerated depreciation expense of $1.5 million, or $0.9 million net of income taxes, for the existing Marquette General Hospital because of the Company’s commitment to construct a new replacement hospital. Net income for the third quarter ended September 30, 2015, includes an impairment charge of $2.2 million, or $1.4 million net of income taxes, related to the divestiture of a hospital.

Diluted earnings per share attributable to LifePoint Health, Inc. stockholders for the third quarter ended September 30, 2016, decreased slightly to $0.92 compared with $0.94 for the same period last year. Diluted earnings per share attributable to LifePoint Health, Inc. stockholders for the third quarters ended September 30, 2016 and 2015, were negatively impacted by $0.02 per share and $0.03 per share, respectively, as a result of Marquette General Hospital accelerated depreciation expense and an impairment charge. When adjusted to exclude these two items, adjusted diluted earnings per share attributable to LifePoint Health, Inc. stockholders for the third quarter of 2016 decreased 3.1% to $0.94 compared with $0.97 for the same period last year, primarily as a result of an anticipated decrease in electronic health record incentive income and higher depreciation and interest expense associated with the Company’s recent acquisitions.

For the nine months ended September 30, 2016, consolidated revenues were $4,758.8 million, up 23.8% from $3,843.6 million for the same period last year, primarily as a result of the Company’s recent acquisitions. Net income for the nine months ended September 30, 2016, was $85.2 million, down $52.4 million, or 38.1%, compared with net income of $137.6 million for the same period last year. Net income for the nine months ended September 30, 2016, includes charges of $24.7 million, or $15.5 million net of income taxes, related to cardiology-related lawsuits, $22.0 million, or $13.7 million net of income taxes, for debt transaction costs, $4.7 million, or $2.9 million net of income taxes, for Marquette General Hospital accelerated depreciation expense, and an impairment charge of $1.2 million, or $0.8 million net of income taxes, related to the write-off of certain capital assets. Net income for the nine months ended September 30, 2015, includes impairment charges of $13.8 million, or $8.9 million net of income taxes, related to hospital divestitures.

Diluted earnings per share attributable to LifePoint Health, Inc. stockholders for the nine months ended September 30, 2016, decreased 36.2% to $1.78 compared with $2.79 for the same period last year. Diluted earnings per share attributable to LifePoint Health, Inc. stockholders for the nine months ended September 30, 2016, were negatively impacted by a total of $0.75 per share as a result of a combination of cardiology-related lawsuits, debt transaction costs, Marquette General Hospital accelerated depreciation expense, and an impairment charge. Similarly, diluted earnings per share attributable to LifePoint Health Inc. stockholders for the nine months ended September 30, 2015, were negatively impacted by a total of $0.19 per share as a result of impairment charges. When adjusted to exclude these various items, adjusted diluted earnings per share attributable to LifePoint Health, Inc. stockholders for the first nine months of 2016 decreased 15.1% to $2.53 compared with $2.98 for the same period last year, primarily as a result of an anticipated decrease in electronic health record incentive income and higher depreciation and interest expense associated with the Company’s recent acquisitions. Additional information regarding adjusted diluted earnings per share attributable to LifePoint Health, Inc. stockholders, including uses by management and others and a reconciliation to diluted earnings per share attributable to LifePoint Health, Inc. stockholders, is set forth in this release under the section titled “Unaudited Supplemental Information.”

Finally, Adjusted EBITDA for the third quarter ended September 30, 2016, increased by 8.9% to $188.0 million compared with Adjusted EBITDA of $172.7 million for the same period last year, and Adjusted Normalized EBITDA for the nine months ended September 30, 2016, increased 5.4% to $549.7 million compared with Adjusted Normalized EBITDA of $521.5 million for the same period last year. Adjusted Normalized EBITDA for the nine months ended September 30, 2016, has been adjusted to exclude the impact of $24.7 million in charges related to cardiology-related lawsuits recognized during the first quarter of 2016. Additional information regarding Adjusted EBITDA and Adjusted Normalized EBITDA, including definitions, uses by management and others and a reconciliation to net income, is set forth in this release under the section titled “Unaudited Supplemental Information.”

“We are pleased with our results for the quarter,” said William F. Carpenter III, Chairman and Chief Executive Officer of LifePoint Health. “We are disciplined operators, and our core business is solid and performing well. In the quarter, we generated strong cash flows and drove sequential improvement in our same-hospital margins when excluding the impact of meaningful use. This quarter, we were active buyers of LifePoint shares, and we will continue to allocate capital to drive the greatest long-term value for our shareholders. In addition, our acquisition pipeline remains strong, and we remain the partner of choice for many hospitals and health systems across the country.”

A listen-only simulcast, as well as a 30-day replay, of LifePoint Health’s third quarter 2016 conference call will be available on line at www.lifepointhealth.net/investor-relations today, Friday, October 28, 2016, beginning at 10:00 a.m. Eastern Time.

LifePoint Health (NASDAQ:LPNT) is a leading healthcare company dedicated to Making Communities Healthier®. Through its subsidiaries, it provides quality inpatient, outpatient and post-acute services close to home. LifePoint owns and operates community hospitals, regional health systems, physician practices, outpatient centers, and post-acute facilities in 22 states. It is the sole community healthcare provider in the majority of the non-urban communities it serves. More information about the Company can be found at www.LifePointHealth.net. All references to “LifePoint,” “LifePoint Health” or the “Company” used in this release refer to affiliates or subsidiaries of LifePoint Health, Inc.