American Renal Associates Holdings, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported net patient service operating revenues of $177,025,000 against $172,131,000 a year ago. Operating income was $12,470,000 against $37,476,000 a year ago. Income before income taxes was $9,378,000 against $25,218,000 a year ago. Net loss attributable to the company was $1,251,000 against income of $3,756,000 a year ago. Diluted loss per share was $0.40 against EPS of $0.16 a year ago. Cash provided by operating activities was $16,522,000 against $36,576,000 a year ago. Purchases of property, equipment and intangible assets were $6,406,000 against $16,396,000 a year ago. Adjusted EBITDA was $35,568,000 against $46,020,000 a year ago. Adjusted net income attributable to the company was $1,865,000 and adjusted net income attributable to the company was $0.06 per share.

The company expects 2017 adjusted EBITDA less NCI to be in a range of $100 million and $106 million. The 2017 outlook reflects the previously announced estimated decline of approximately $25 million related to reductions from Affordable Care Act-compliant individual marketplace plans (both on-exchange and off-exchange) (ACA Plans), as compared to 2016, for patients who also received charitable premium assistance. The estimated $25 million decline from 2016 adjusted EBITDA less NCI takes ARA's weighted average dialysis facility ownership into account. The company's 2017 adjusted EBITDA less NCI outlook excludes severance costs, certain legal costs, and other future potential costs, which could include potential closure and consolidation costs, to the extent they occur during 2017.