Quorum Health Corp. reported a net loss of $20.7 million on total operating revenue of $458.6 million in the last quarter of 2018, an improvement from the prior year when the hospital company reported a loss of $26.8 million on $515.1 million in total operating revenue.
Cash flows and same facility net operating revenue were down, with cash flows reported to be negative $3.4 million compared with a positive $66.2 million in the last quarter of 2017. Same facility revenue fell to $460.7 in the fourth quarter of 2018 from $482.8 million a year earlier.
For the year ended Dec. 31, a loss of $200.2 million was reported, which is up sharply from 2017's negative income of $114.2 million. Total operating revenue during the year fell 9% to $1,878.6 million from $2,072.2 million in 2017.
The Brentwood, Tenn.-based company's share price fell 9.3% over the last two days, closing at $1.95.
In a news release, CEO Robert Fish pointed to changes during the year that indicate the company is making progress, such as improved margins when not taking into account interest, taxes, depreciation and amortization, and hospital divestitures during the year that brought in $40.3 million. More sales are expected this year, according to the company.