Revenue and EBITDA Performance
First quarter revenue of $770.5 million came in just above the midpoint of the outlook range, while adjusted EBITDA of $134.2 million was near the high end of the outlook range.
Patient Day Growth
Same facility patient days grew 2.2% in the first quarter, despite an unfavorable leap year impact of approximately 110 basis points.
Expansion Initiatives
Added 378 new beds in the first quarter, comprised of 90 beds to existing facilities and 288 beds from two new facilities. Also, added seven new comprehensive treatment centers, extending the company's market reach to 170 CTCs across 33 states.
Focus on Quality and Safety
Commitment to quality and safety is a foundational element, with facilities licensed, accredited, and regularly inspected. Advanced data capabilities and a new integrated quality dashboard enhance care monitoring.
Labor Cost Improvements
Premium pay declined both sequentially and year-over-year, indicating improvements in labor trends and staff retention.