UPDATE: Lifepoint Hospitals Posts Higher Q2 Earnings, Lifts Full-Year Outlook

Lifepoint Hospitals LPNT reported a rise in its second-quarter earnings and raised its forecast for the year. Lifepoint Hospitals now projects full-year earnings of $2.99 to $3.19 per share, versus its earlier outlook of $2.38 to $2.78 per share. It expects revenue of $4.25 billion to $4.35 billion, versus its earlier outlook of $4.0 billion to $4.1 billion. The Brentwood, Tennessee-based company reported quarterly earnings of $39.1 million, or $0.84 per share, compared to $27.4 million, or $0.57 per share, in the year-ago period. Its revenue climbed 17% to $1.05 billion. However, analysts were expecting earnings of $0.55 per share on revenue of $1.01 billion. On a same-hospital basis, the company's admissions declined 2.1%. Inpatient surgeries tumbled 3.4% in the quarter, while outpatient surgeries climbed 5.3%. Its provision for doubtful accounts climbed 10% to $199.2 million. William F. Carpenter III, chairman and chief executive officer of LifePoint Hospitals said, “Our results reflect improving margins, enhancements to patient safety and quality of care, the strength of our recent acquisitions, and our successful efforts to capture the benefits of expanded coverage under healthcare reform.” Lifepoint Hospitals shares gained 1.57% to close at $65.49 yesterday.