Kindred's 2010 earnings outlook improves
Kindred Healthcare Inc. has raised its earnings guidance for continuing operations for 2010.
The long-term care company expects consolidation revenues for the year to approximate $4.3 billion. It expects operating income, or earnings before interest, income taxes, depreciation, amortization and rent, to range from $569 million to $574 million.
"The fourth quarter of 2010 will present a number of operational challenges, including significant Medicare reimbursement changes in our nursing center and Peoplefirst rehabilitation businesses," Kindred President and CEO Paul J. Diaz said.
Kindred's rehabilitation and nursing admissions increased 9% over last year. The company said its overall results for the third quarter, which ended Sept. 30, was the result of "effective cost controls across the organization."