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BIRMINGHAM, Ala. - HealthSouth Corp., a provider of inpatient rehabilitation services, said Tuesday its 2008 earnings will exceed its forecast due to better-than-expected earnings in the third quarter and lower debt.
The company pegged its full-year profit at 23 cents to 25 cents per share, up from a prior range of 15 cents to 20 cents per share. Adjusted to exclude discontinued operations and other items, the company expects to earn 58 cents to 60 cents per share in 2008, compared with a previous estimate of 50 cents to 55 cents per share.
HealthSouth maintained its guidance for net operating revenue in a range of $1.83 billion to $1.88 billion.
On average, analysts surveyed by Thomson Reuters forecast an annual profit of 52 cents per share on revenue of $1.84 billion. The estimates typically exclude one-time charges and gains.
HealthSouth shares rose $1.23, or 10 percent, to $13.50 in after-hours trading. The stock ended regular trading down 79 cents at $12.27.
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