Adeptus Health Inc (NYSE:ADPT) released earnings and the company came inline previous guidance numbers. Revenue for the fourth quarter was $70.1 million. That was a 108% increase over the 2013 fourth quarter. EBITDA increased 54% to $10.2 million. Net income was just above break-even at $300k. The company’s EPS was 9 cents. A positive sign for the company was patient volume. Patients increased visits 91% compared to the precious year. Adeptus also opened four new free-standing facilities bringing their total to 55. Full year numbers were solid also. The company reported revenue of $210 million for 2014 and that was a 104% increase over 2013. EBIDTA was 4 cents and they showed a GAAP loss of 34 cents per share.
The company opened 29 new free-standing facilities in 2014. The year was strong for expanding and the company is looking to leverage the new operations on the 2015 balance sheet. Adeptus Health Inc (NYSE:ADPT) also built their first hospital along with opening the free-standing units. Adeptus’ patients also rated the company in the top 1% for health care and its employees voted it among the best companies to work for. The company also partnered with Dignity Health Arizona Hospital. The company began training and certifying the operation and also received CMS certification.
The company expanded on its current portfolio of free-standing emergency rooms and is on track to open 24 per year as expected. They also plan to begin construction on its second hospital. It is placed in the Carrolton area and will offer 24-hour emergency room access. Adeptus Health Inc (NYSE:ADPT) has big plans for expansion and this should equate to a strong 2015.The industry is suffering a shortage of emergency rooms and there is demand for more units. With the ACA in full swing more people have insurance and that equates to more visits also.
The stock ran on the earnings news but it needs to settle into a base. There is strong support at $38.02 and that should be a sufficient platform for the base building.