Avocado Aurora’s operating profit shrinks in third quarter
Despite higher revenues in the third quarter of 2021, Advocate Aurora Health saw its operating profit decline compared to the same quarter last year, according to a recently released publication financial documents.
The healthcare system, which has two headquarters in Milwaukee and Downers Grove, Ill., Reported $ 3.6 billion in revenue in the third quarter of 2021. During the same period of the year last, lawyer Aurora had a turnover of 3.5 billion dollars.
Advocate Aurora Health, which has 24 acute care hospitals, also saw spending increase in the quarter ended Sept. 30 to $ 3.4 billion, up 6.3% from the same quarter of the year. last.
After factoring in one-time expenses of $ 10.8 million, Advocate Aurora ended the third quarter of this year with operating income of $ 184.2 million. During the same period last year, Advocate Aurora’s operating profit was $ 275.8 million.
With non-operating gains, including $ 196.2 million in investment income, Advocate Aurora reported net income of $ 361.1 million in the third quarter of 2021. In the third quarter of 2020, Advocate Aurora reported net income of $ 479.5 million.
For the nine months ending September 30, Advocate Aurora reported net income of $ 1.5 billion on revenue of $ 10.3 billion. During the same nine-month period in 2020, lawyer Aurora recorded a net loss of $ 434.9 million on revenue of $ 9.5 billion.
“The variation in operations between the nine months ended September 30, 2021 and the nine months ended September 30, 2020 was impacted by the COVID-19 pandemic, which began to have a significant negative impact on operations in March 2020” , the company said in the documents. âAs vaccination rates have increased and other mitigation strategies to contain the virus along with remediation efforts that took effect in 2021, operations have improved in the nine months ended September 30, 2021. “