Yahoo Finance HealthSouth's 1Q profit falls short
HealthSouth says revenue up but profit misses expectations in 1Q
BIRMINGHAM, Ala. (AP) -- HealthSouth Corp., the nation's largest owner of inpatient rehabilitation hospitals, said Monday that its first-quarter revenue improved, but higher expenses hurt its profitability.
The Birmingham, Ala.-based company's quarter fell short of market expectations but its forecast was in line.
HealthSouth reported after the market closed that its net income slipped to $45.1 million from $45.6 million. Its per-share earnings were flat at 48 cents per share. Its revenue climbed to $591.2 million from $572.6 million.
Analysts polled by FactSet were anticipating earnings of 49 cents per share on revenue of $592.8 million.
HealthSouth CEO and President Jay Grinney characterized the quarter as a very good start to the year, noting that the company increased its discharges and revenue despite the negative impact of winter weather and other pressures.
The company said that it anticipates earnings per share from continuing operations between $1.86 and $1.91 for 2014; analysts are anticipating $1.91.
Shares of HealthSouth rose 17 cents to close at $34.30 and were unchanged in after-hours trading following the report.
