American Renal Associates: 2Q Earnings Snapshot
BEVERLY, Mass. (AP) _ American Renal Associates Holdings Inc. (ARA) on Tuesday reported a loss of $18 million in its second quarter.
The Beverly, Massachusetts-based company said it had a loss of 59 cents per share. Earnings, adjusted for non-recurring costs, came to 20 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The dialysis centers owner posted revenue of $217.2 million in the period.
American Renal Associates shares have decreased roughly 4 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $16.77, an increase of 12 percent in the last 12 months.