Short answer
Ardent Health, Inc. (ARDT) filed an 8-K current report with the SEC on September 4, 2026 reporting Item 8.01 (Other Events), Item EX-99.1 (Exhibit EX-99.1). Prior-period Adjusted EBITDA reduced by $97.7M after removing two Q3 2025 non-GAAP adjustments.
Ardent Health, Inc. 8-K event analysis
AI summary of each reported item and its exhibits
Item 8.01 · Other Events
- Prior-period Adjusted EBITDA reduced by $97.7M after removing two Q3 2025 non-GAAP adjustments
- 2025 Adjusted EBITDA revised to $447.3M from $545.0M, reducing reported operating-performance metrics
- 2025 Adjusted EBITDAR revised to $611.6M from $709.3M
- No impact on GAAP results, cash flows, financial condition, net income, or 2026 financial results
- SEC discussions prompted enhanced future disclosures and revised non-GAAP presentations
Item EX-99.1 · Exhibit EX-99.1
- Revised 2025 Form 10-K MD&A clarifies definitions and reconciliations for Adjusted EBITDA and Adjusted EBITDAR
- 2025 Adjusted EBITDA $447.3M, down from $498.5M in 2024 despite $39.3M equity-based compensation addback
- 2025 net income $230.1M, down from $299.7M, signaling weaker GAAP profitability alongside lower adjusted earnings
- 2025 Adjusted EBITDAR $611.6M, including $164.3M REIT rent addback relevant to lease-covenant compliance
- Filing highlights substantial lease obligations: 12 hospitals and 18 medical office buildings leased from Ventas and MPT
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