Envision Healthcare (EVHC) Misses Q3 EPS by 15c, to Review Strategic Alternatives

Envision Healthcare (NYSE: EVHC) reported Q3 EPS of $0.73, $0.15 worse than the analyst estimate of $0.88. Revenue for the quarter came in at $1.99 billion versus the consensus estimate of $1.99 billion.

For the fourth quarter of 2017, Envision expects to generate revenue of $1.88 billion to $2.02 billion, Adjusted EBITDA of $182 million to $202 million, and Adjusted EPS of $0.44 to $0.54.

(Street sees Q4 EPS of $1.00 on revenue of $2.07 billion)

Review of Strategic Alternatives

The Company also announced that its Board of Directors, in consultation with management and financial and legal advisors, has unanimously decided to initiate a full review of a broad range of alternatives to enhance shareholder value. The Board plans to proceed in a timely manner, but has not set a timetable for completion of its review. There can be no assurance that this review will result in a transaction or other alternative of any kind. The Company does not intend to provide updates on its review until it deems further disclosure is appropriate or required.

“After careful consideration, our Board has determined to undertake a review of strategic, financial and operational alternatives with the goal of enhancing shareholder value,” said William Sanger, Chairman of the Envision Board of Directors. “While we have made considerable progress in building the new Envision around a set of highly-differentiated physician-centric clinical solutions, the Board believes that a review at this time – with all options on the table, including continuing to execute on our strategic plan – is in the best interests of Envision shareholders. As the Board conducts its review of potential value-creating alternatives, we remain focused on aggressively executing our strategic plan to deliver value to Envision shareholders.”

For earnings history and earnings-related data on Envision Healthcare (EVHC) click here.

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