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Ascension has published its financial results for the second quarter of fiscal year 2025, which ended on December 31, 2024. The organization reported a net income of $277 million for the period, marking an improvement of $515 million compared to the previous year. Despite these gains, Ascension experienced a recurring operating loss of $313 million over the same six-month period, contrasting with an income from recurring operations of $40 million in the prior year.
The results reflect Ascension's continued recovery following a cybersecurity attack in May that affected operations in Q4 FY24. However, patient volume at Ascension facilities has since increased by 5-6%, and key performance indicators are returning to normal levels.
Ascension reported a recurring operating EBIDA of $320 million and an EBIDA margin of 2.4% for Q2 FY25 YTD. The total operating loss was $365 million, which includes one-time non-cash write-downs and other non-recurring losses totaling $51 million. This compares to a total operating loss of $155 million in the prior year.
"Ascension continues to build momentum, strengthening our ability to serve communities with high-quality care while expanding access and upholding our commitment to our Mission," said Eduardo Conrado, President of Ascension. He highlighted a $1.3 billion improvement in recurring operating performance from Q4 FY24 as evidence of progress.
Saurabh Tripathi, Executive Vice President and Chief Financial Officer of Ascension, stated: "Our Q2 FY25 results demonstrate the sustainable impact of our financial discipline and operational excellence." He emphasized their ongoing efforts to reinvest in workforce, technology, and patient care.
During this reporting period, Ascension served a similar number of patients as last year on a same-facility basis but noted a per-day increase in volume up to 6.1% from Q4 FY24. The organization is expanding capacity in acute care settings and building capabilities in ambulatory settings to improve access.
For the six months ending December 31, 2024, same-facility operating revenue rose by 1.5%, while expenses grew by 1.9%. In response to ongoing recovery efforts from the cyberattack incident earlier this year, same-facility revenue increased by nearly $1.3 billion from Q4 FY24.
Mr. Tripathi added that strong balance sheets and financial stability position Ascension well for future endeavors aimed at delivering high-quality healthcare nationally.
