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Common Well being (NYSE:) shares dropped round 10% after-hours following the corporate’s reported Q1 outcomes, with EPS of $2.15 coming in under the Road estimate of $2.46. Income grew 9.3% year-over-year to $3.29 billion, in comparison with the Road estimate of $3.21 billion.
The quarterly outcomes have been unfavorably impacted by the continuing COVID-related uncertainties, in addition to higher-than-anticipated labor prices as a result of a nationwide scarcity of nurses and different medical workers and assist personnel.
On February 24, 2022, the corporate’s Board of Administrators introduced a $1.4 billion enhance to its inventory repurchase authorization.
The corporate reiterated its full 2022-year outlook supplied on Feb 24, nevertheless noting that estimate reductions could also be doable at a future date in case the development of uncertainties associated to the COVID-19 pandemic, in addition to the healthcare staffing scarcity that negatively affected the Q1 outcomes received’t enhance.
Shares of Common Well being have been up 7% year-today-date earlier than the after-hours drop.
By Davit Kirakosyan
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