Quorum Health Corp (NYSE:QHC) has today moved ahead to announce its fourth quarter and year -end financial and operating results. The results were for the year ended December 31, 2017 and they are going to be used by the company to strategize for the future.
One notable aspect about the performance this time around was the fact that the net operating revenues went down by a margin of $0.2 million to $515.1 million and a close comparison can be drawn to the previous year where it witnessed $515.3 million.
Top analysts have been scrutinizing the results in a quest to find out what might exactly have caused the decline. A lot of reasons have been forwarded one of them being the challenges that have been popping and impacting most of the Quorum’s business operations.
A person familiar with the company’s progress has outlined that the company had tried mobilizing its efforts and resources as well to swing back to equilibrium but that ended up proving rather difficult. But these analysts agree on one thing-the decline wasn’t by a very huge margin and thus the company has the room to recover and regain its vibrancy in a market characterized by pretty stiff competition.
It is worth noting that of December 31, 2017 the business guru managed to combine net proceeds from about seven hospital divestitures with an associated amount of about $31 million and that emanated from California.
The President and Chief Executive Officer of Quorum Health Corporation Thomas D. Miller, has been rather outspoken regarding the announced results. While speaking to a number of news reporters who wanted to get his perspective regarding the latest developments, the official said that it was a great thing completing eight divestiture transactions in the course of this particular year.
He delved deeper into the matte to outline that as a company they were looking forward to executing their strategy and of course that will have pretty much to do with paying down their debt. This exercise will have to align to the company’s major strategic goals. The company’s management is hoping that by implementing several changes they will be able to scale up their business performance.