Beverly earns a profit in second quarter on higher sales
Beverly Enterprises Inc., one of the largest nursing home providers in the United States and currently up for sale, made a profit in the second quarter on higher revenues. This comes after posting a loss last year.
The Fort Smith, AR-based company earned $46.1 million, or 37 cents a share, compared to a loss of $25.9 million, or 24 cents a share, in the same quarter a year ago. Revenues rose 17% to $564.1 million. Total Medicare revenues rose 16%.
Occupancy in its 323 nursing homes in continuing operations rose 60 basis points to an average of 89.1% from a year ago, officials said.