Minneapolis, Minn. — November 6, 2018 – Universal Hospital Services, Inc. (“UHS”), today announced its final results for the quarter ended September 30, 2018 and its full-year financial outlook.
Total revenue for the three months ended September 30, 2018, was $138.1 million, representing an 11.6 percent increase from total revenue of $123.8 million for the same period of 2017. Total revenue for the nine months ended September 30, 2018, was $421.2 million, representing a 10.1 percent increase from total revenue of $382.6 million for the same period of 2017.
Adjusted EBITDA for the three months ended September 30, 2018, was $36.2 million, an 8.6 percent increase from Adjusted EBITDA of $33.4 million for the same period of 2017. Adjusted EBITDA for the nine months ended September 30, 2018, was $113.5 million, a 10.7 percent increase from Adjusted EBITDA of $102.5 million for the same period of 2017.
As previously reported, the company narrowed its full-year 2018 Adjusted EBITDA guidance to $150 million from its previously announced full-year range of $145 to $150 million. In addition, the company reaffirmed its 2019 Adjusted EBITDA guidance range of $165 to $170 million.
Conference Call Information
UHS will hold a conference call to discuss its full 2018 third quarter results on Wednesday, November 7, at 9 a.m. Eastern Time (8 a.m. Central Time).
To participate, call (877) 407-4177 and advise the operator that you would like to join the Universal Hospital Services 2018 Third Quarter Earnings Conference Call. A replay of this call will be available from 12 p.m. Eastern Time on November 7, through 11:59 p.m. Eastern Time on December 6, and can be accessed by calling (877) 660-6853 and using the conference ID 13683324.
UHS will also use a slide presentation to facilitate the conference call discussion. A copy of the presentation may be obtained via the company’s website at www.uhs.com. Select “Investors” then “Presentations.”
Adjusted EBITDA Reconciliation
Adjusted EBITDA is defined by UHS as Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), and excludes non-cash share-based compensation expense, management, board and other non-recurring gain, expenses, or loss, which may not be calculated consistently among other companies applying similar reporting measures. EBITDA and Adjusted EBITDA are not intended to represent an alternative to operating income or cash flows from operating, financing or investing activities (as determined in accordance with generally accepted accounting principles (“GAAP”)) as a measure of performance and is not representative of funds available for discretionary use due to UHS’ financing obligations. EBITDA is included because it is a widely accepted financial indicator used by certain investors and financial analysts to assess and compare companies and is an integral part of UHS’ debt covenant calculations. Adjusted EBITDA is included because UHS’ financial guidance and certain compensation plans are based upon this measure. Management believes that Adjusted EBITDA provides an important perspective on the company’s ability to service its long-term obligations, the company’s ability to fund continuing growth, and the company’s ability to continue as a going concern.
About Universal Hospital Services, Inc.
Universal Hospital Services, Inc. is a leading nationwide provider of health care technology management and service solutions. UHS owns or manages more than 800,000 pieces of medical equipment for more than 7,000 national, regional and local acute care hospitals and alternate site providers across the U.S. For more than 75 years, UHS has delivered medical equipment management and service solutions that help clients reduce costs, increase operating efficiencies, improve caregiver satisfaction and support optimal patient outcomes.
Universal Hospital Services, Inc.
6625 West 78th Street,
Minneapolis, MN 55439
Executive Vice President and Chief Financial Officer
Universal Hospital Services, Inc.