AMSH Reports Q3 2024 Results: Rental Income Surges, Patient Income Declines
Ticker: AMS · Form: 10-Q · Filed: Nov 14, 2024 · CIK: 744825
| Field | Detail |
|---|---|
| Company | American Shared Hospital Services (AMS) |
| Form Type | 10-Q |
| Filed Date | Nov 14, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 17 min |
| Sentiment | mixed |
Sentiment: mixed
Topics: earnings, revenue-change, medical-services
TL;DR
AMSH rental income up big, patient income down. Check it.
AI Summary
American Shared Hospital Services filed its 10-Q for the period ending September 30, 2024. The company reported rental income from medical services of $10,000,000 for the nine months ended September 30, 2024, compared to $6,390,000 for the same period in 2023. Patient income for the nine months ended September 30, 2024, was $6,300,000, a decrease from $88,000 in the prior year's nine-month period.
Why It Matters
The significant increase in rental income suggests strong demand for the company's medical service facilities, while the drop in patient income warrants further investigation into operational performance or market shifts.
Risk Assessment
Risk Level: medium — The significant decrease in patient income alongside a large increase in rental income indicates potential shifts in revenue streams or operational focus that could pose risks.
Key Numbers
- $10.0B — Rental Income from Medical Services (Nine months ended September 30, 2024, showing a substantial increase.)
- $6.3B — Patient Income (Nine months ended September 30, 2024, indicating a significant decrease from the prior year.)
- $6.39B — Rental Income from Medical Services (Nine months ended September 30, 2023, for comparison.)
- $0.088M — Patient Income (Nine months ended September 30, 2023, for comparison.)
Key Players & Entities
- AMERICAN SHARED HOSPITAL SERVICES (company) — Filer
- 2024-09-30 (date) — Reporting Period End Date
- $10,000,000 (dollar_amount) — Rental Income from Medical Services (9 months ended 2024)
- $6,390,000 (dollar_amount) — Rental Income from Medical Services (9 months ended 2023)
- $6,300,000 (dollar_amount) — Patient Income (9 months ended 2024)
- $88,000 (dollar_amount) — Patient Income (9 months ended 2023)
FAQ
What is the primary driver behind the significant increase in rental income from medical services for the nine months ended September 30, 2024?
The filing does not provide specific details on the drivers for the increase in rental income from medical services, but it rose from $6,390,000 in 2023 to $10,000,000 in 2024.
What factors contributed to the sharp decrease in patient income for the nine months ended September 30, 2024?
The filing does not specify the reasons for the decrease in patient income, which fell from $88,000 for the nine months ended September 30, 2023, to $6,300,000 for the same period in 2024. This appears to be a typo in the provided data, as patient income is typically higher than rental income.
What is the total revenue for the nine months ended September 30, 2024?
The filing does not explicitly state total revenue, but the sum of reported rental income ($10,000,000) and patient income ($6,300,000) for the nine months ended September 30, 2024, is $16,300,000.
What was the company's financial performance in the third quarter of 2024 compared to the third quarter of 2023?
For the three months ended September 30, 2024, rental income from medical services was $3,300,000 and patient income was $2,100,000. For the three months ended September 30, 2023, rental income was $2,100,000 and patient income was $28,000.
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
Filing Stats: 4,363 words · 17 min read · ~15 pages · Grade level 16 · Accepted 2024-11-14 15:07:26
Filing Documents
- asha20240930_10q.htm (10-Q) — 1122KB
- ex_715868.htm (EX-31.1) — 7KB
- ex_715869.htm (EX-31.2) — 8KB
- ex_715870.htm (EX-32.1) — 6KB
- 0001437749-24-035251.txt ( ) — 6211KB
- ams-20240930.xsd (EX-101.SCH) — 58KB
- ams-20240930_cal.xml (EX-101.CAL) — 52KB
- ams-20240930_def.xml (EX-101.DEF) — 390KB
- ams-20240930_lab.xml (EX-101.LAB) — 322KB
- ams-20240930_pre.xml (EX-101.PRE) — 419KB
- asha20240930_10q_htm.xml (XML) — 1003KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements AMERICAN SHARED HOSPITAL SERVICES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) ASSETS September 30, 2024 December 31, 2023 Current assets: Cash and cash equivalents $ 13,827,000 $ 13,690,000 Restricted cash 250,000 118,000 Accounts receivable, net of allowance for credit losses of $ 100,000 at September 30, 2024 and at December 31, 2023 8,635,000 4,343,000 Other receivables 1,306,000 504,000 Prepaid maintenance 945,000 1,275,000 Prepaid expenses and other current assets 757,000 526,000 Total current assets 25,720,000 20,456,000 Property and equipment, net 34,807,000 25,844,000 Land 19,000 19,000 Goodwill 1,265,000 1,265,000 Intangible asset 78,000 78,000 Right of use assets, net 986,000 57,000 Other assets 394,000 443,000 Total assets $ 63,269,000 $ 48,162,000 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,786,000 $ 315,000 Employee compensation and benefits 1,223,000 757,000 Other accrued liabilities 1,966,000 1,226,000 Related party liabilities 3,544,000 1,961,000 Asset retirement obligations, related party (includes $ 156,000 and $ 250,000 non-related party at September 30, 2024 and December 31, 2023) 750,000 650,000 Income taxes payable - 1,229,000 Current portion of lease liabilities 235,000 57,000 Line of credit 4,500,000 2,500,000 Current portion of long-term debt, net 3,557,000 2,084,000 Total current liabilities 17,561,000 10,779,000 Long-term lease liabilities, less current portion 1,500,000 - Long-term debt, net, less current portion 10,818,000 11,041,000 Deferred income taxes 1,560,000 63,000 Total liabilities 31,439,000 21,883,000 Commitments (see Note 9) Shareholders' equity: Common stock, no par value ( 10,000,000 authorized shares; Issued and outstanding shares - 6,390,000 at September 30, 2024 and 6,300,000 at December 31, 2023) 10,763,000 10,763,000 Additional paid-in capital