Ardent Health, Inc. agreed to acquire Boone Health for $47 million in cash, including Boone Hospital Center and 19 sites of care; closing is expected in the first quarter of 2027.
ARDT · Ardent Health, Inc.
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Ardent expects its multi-year Impact program to deliver at least $70 million in savings this year and provide a tailwind into 2027, when focus shifts toward smart service-line additions and disciplined M&A.
Ardent Health reported third-quarter revenue of $1.62 billion and adjusted EBITDA of $138 million, raised its 2026 adjusted EBITDA outlook to $500 to $535 million, and agreed to divest its Kansas hospital ownership at 11 times EBITDA.
Ardent Health, Inc. agreed to sell its 70.5% equity interest in St. Francis to the University of Kansas Hospital Authority for $58.4 million; the sale is expected to close in the fourth quarter of 2026.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Aug 5, 2026TL;DR. Ardent reaffirmed full-year 2026 adjusted EBITDA guidance of $485–$535M despite softer Q2 volumes, citing $25M of volume headwinds fully offset by $20–$30M from a raised IMPACT savings target (now at least $70M, up from $55M) and a payer contract renewal expected to add $5–$10M. Q2 adjusted EBITDA fell 32.3% YoY to $115M on a 2.9% decline in total surgeries, while operating cash flow jumped 67% to $197M.
- + Raised 2026 IMPACT savings target to at least $70M from $55M, including $15–$20M from workforce restructuring
- + Payer contract renewal in one market expected to add $5–$10M to 2026 adjusted EBITDA not in prior guidance
- − Q2 adjusted EBITDA declined 32.3% YoY to $115M
- − $25M volume headwind in Q2 and H2 from softer-than-expected surgeries and admissions
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
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Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
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Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted admissions growth | 2.5% | the three months ended June 30, 2026 filing | — |
| Admissions change | 1% | the three months ended June 30, 2026 filing | — |
| Contract labor reduction | 41.6% | the three months ended June 30, 2026 filing | — |
| JV entities revenue as percentage of total revenue | 28.6% | the three months ended June 30, 2026 filing | — |
| Net patient service revenue per adjusted admission change | 3.9% | the three months ended June 30, 2026 filing | — |
| Revenue from Medicaid supplemental payment programs | $197.1M | the three months ended June 30, 2026 filing | — |
| Total revenue related to JV entities | $464.7M | the three months ended June 30, 2026 filing | — |
| Total surgeries change | 2.9% | the three months ended June 30, 2026 filing | — |
| Adjusted admissions | 89,326 | Three Months Ended June 30, 2026 | — |
| Adjusted EBITDA non-GAAP | $115M | the second quarter of 2026 | — |
| Adjusted EBITDA margin non-GAAP | 7.1% | Three Months Ended June 30, 2026 | — |
| Adjusted EBITDAR non-GAAP | $322.07M | Six Months Ended June 30, 2026 | — |
| Admissions | 41,104 | Three Months Ended June 30, 2026 | — |
| Average length of stay | 4.6 | Three Months Ended June 30, 2026 | — |
| Emergency room visits | 156,896 | Three Months Ended June 30, 2026 | — |
| Hospitals operated (at period end) | 30 | Three Months Ended June 30, 2026 | — |
| Inpatient surgeries | 9,106 | Three Months Ended June 30, 2026 | — |
| Licensed beds (at period end) | 4,281 | Three Months Ended June 30, 2026 | — |
| Net patient service revenue per adjusted admission | $17,864 | Three Months Ended June 30, 2026 | — |
| Outpatient surgeries | 22,649 | Three Months Ended June 30, 2026 | — |
| Patient days | 189,223 | Three Months Ended June 30, 2026 | — |
| Total encounters | 1,581,207 | Three Months Ended June 30, 2026 | — |
| Total surgeries | 31,755 | Three Months Ended June 30, 2026 | — |
| Utilization of licensed beds | 49% | Three Months Ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Medical Care Facilities — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
ARDT
this stock
Ardent Health, Inc.
|
$2.51B | +101.6% | +6.0% | 17.3 | 2.4% |
|
HCA
HCA Healthcare, Inc.
|
$104.25B | +6.9% | +7.1% | 16.6 | 2.3% |
|
FSNUY
Fresenius SE & Co. KGaA
|
$33.34B | +3.3% | — | — | 0.0% |
|
THC
Tenet Healthcare Corp
|
$22.76B | +43.9% | +0.9% | 8.3 | 2.2% |
|
EHC
Encompass Health Corp
|
$13.83B | +32.8% | +10.5% | 22.0 | 3.7% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 12, 2026
- This year
- 22
Ardent Health, Inc. agreed to acquire Boone Health for $47 million in cash, including Boone Hospital Center and 19 sites of care; closing is expected in the first quarter of 2027.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| ARDT | +2.9% | +49.0% | +91.6% | +48.0% | +101.6% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +0.3% | +50.1% | +91.1% | +48.1% | +91.0% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.