2nd Quarter Earnings for Beverly's American Renal Associates Holdings

BEVERLY, MA – Homegrown Beverly company American Renal Associates Holdings released its second quarter earnings for 2016 on Tuesday.

American Renal has been aggressively expanding in Beverly since moving to the Cummings Center and last year announced its decision to go public.

One of the nation's leading providers of outpatient dialysis services, the company opened its 200th clinic in the United States this past quarter.

Here are the highlights of American Renal's second quarter performance, according to BusinessWire. All comparisons are to last year's second quarter:

• Net patient service operating revenues increased 15% to $185.6 million
• Net income (loss) attributable to American Renal Associates Holdings, Inc. was ($9.1) million or ($0.75) per share as compared to $5.0 million or $0.22 per share in Q2 2015
• Adjusted EBITDA less non-controlling interests (“EBITDA-NCI”) increased 13% to $31.6 million
• Adjusted net income attributable to American Renal Associates Holdings, Inc. was $8.3 million or $0.26 per share for the second quarter of 2016
• Total dialysis treatments increased 11.8%, of which 10.8% was non-acquired growth (“NAG”)
• As of June 30, 2016, the company operated 201 outpatient dialysis centers serving approximately 13,755 patients.

Joe Carlucci, chairman and CEO of American Renal, told BusinessWire the company was pleased with the "strong second quarter results."

The second quarter ended June 30.

>>>Read the full report from BusinessWire

Photo via Cummings Properties