Stifel Downgrades Kindred Healthcare (KND) to Sell
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Kindred Healthcare Updates Strategy and Reports Third Quarter 2016 Results
November 7, 2016 4:30 PM EST
Announces Plan to Exit the Skilled Nursing Facility Business;
Announces
Associated $70 Million to $100 Million Cost Realignment Initiative(1)
Enterprise Strategy Focused on Stronger Cash Flow, Higher Margin, Lower Capital Intensity Businesses
Third Quarter Consolidated Revenues of $1.8 Billion, GAAP Loss from Continuing Operations of $671 Million, GAAP Diluted Loss Per Share from Continuing Operations of $7.89 and EBITDAR Loss of $134 Million(2)
Results Reflect After-Tax Costs of $690 Million Primarily Including Non-Cash Impairments of $266 Million(3), Non-Cash Deferred Tax Asset Valuation Allowance of $366 Million,... More
