Every 8-K that Ardent Health, Inc. (ARDT) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow ARDT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ARDT filings page.
Ardent Health, Inc. (ARDT) filed an update to revise non-GAAP financial measures in its 2025 Form 10-K, removing $97.7 million of aggregate adjustments from Adjusted EBITDA and Adjusted EBITDAR related to a third-quarter 2025 accounts receivable collectability estimate and a New Mexico professional liability accrual.
After these changes, 2025 Adjusted EBITDA decreases from $545.0 million to $447.3 million, and 2025 Adjusted EBITDAR decreases from $709.3 million to $611.6 million. Ardent states these revisions follow discussions with the SEC’s Division of Corporation Finance and that its GAAP consolidated financial statements, financial condition, results of operations and cash flows remain unchanged.
The company confirms there are no revisions to 2023 or 2024 Adjusted EBITDA or Adjusted EBITDAR and no impact on 2026 financial results. The filing also restates definitions and reconciliations of Adjusted EBITDA and Adjusted EBITDAR, highlighting material addbacks such as interest, depreciation and amortization, restructuring costs, Epic implementation expenses, cybersecurity incident effects and rent expense payable to REITs.
Ardent Health reported second quarter 2026 revenue of $1.62 billion, down 1.4% year-over-year, as net patient service revenue per adjusted admission fell 3.9% after a prior-year benefit from the New Mexico state directed payment program. Net income attributable to Ardent was $17 million or $0.12 per diluted share, compared with $73 million or $0.52, and Adjusted EBITDA declined to $115 million, a 32.3% decrease. Adjusted admissions grew 2.5% while total surgeries fell 2.9%.
Operating cash flow strengthened to $197 million, up 67% from $117 million, contributing to cash of $724 million, total debt of $1.1 billion, a net leverage ratio of 0.8x and lease-adjusted net leverage of 2.6x as of June 30, 2026. Available liquidity was $992 million, and the company repurchased 1.4 million shares for $13 million, with $34 million remaining under its authorization.
For full-year 2026, Ardent reaffirmed total revenue guidance of $6.4–$6.7 billion and Adjusted EBITDA of $485–$535 million, while lowering net income attributable guidance to $110–$163 million and diluted EPS guidance to $0.78–$1.15. Targets for adjusted admissions growth of 1.5–2.5% and capital expenditures of $225–$265 million were maintained.
Ardent Health, Inc. filed an update on leadership changes involving former President and CEO Martin J. Bonick. The company notes that Bonick’s previously announced departure on June 2, 2026 is now governed by a formal Separation Agreement and General Release dated June 26, 2026, effective as of the departure date.
Under this agreement, Bonick will receive severance benefits consistent with a termination by the company without “Cause,” as described in Ardent Health’s April 8, 2026 definitive proxy statement. The vesting or forfeiture of his time-based and performance-based restricted stock units and restricted stock will follow the existing incentive plan and award agreements. Bonick is also bound by non-competition and non-solicitation covenants for twelve months after the Effective Date. The full agreement is filed as Exhibit 10.1.
Ardent Health, Inc. appointed former Chief Operating Officer Dave Caspers as President and Chief Executive Officer and to its Board, effective June 2, 2026, succeeding Marty Bonick, who has separated from the company and stepped down from the Board.
Ardent entered into a new employment agreement with Mr. Caspers that runs initially through May 31, 2029 and provides a base salary of $900,000, a target annual bonus opportunity of 105% of base salary for 2026, eligibility for equity awards under the 2024 Omnibus Incentive Award Plan, and standard executive benefits.
If he is terminated without cause or resigns for good reason, Mr. Caspers is eligible for cash severance equal to two times salary plus target bonus and up to 18 months of continued health benefits, increasing to three times salary plus target bonus for qualifying terminations around a change in control. He is also subject to a 24‑month post-employment non‑competition and non‑solicitation covenant.
In an accompanying press release, Ardent highlighted Mr. Caspers’ operational background at Walmart Health, Banner Health, Target, and Leslie’s and noted his leadership of the company’s IMPACT margin-improvement program. The company reported volume softness in the second quarter but reaffirmed its full‑year 2026 Adjusted EBITDA guidance of $485 million to $535 million.
Ardent Health, Inc. reported the results of its Annual Meeting of Stockholders held on May 20, 2026. Stockholders representing 98,778,826 shares of common stock were present in person or by proxy, out of 143,095,662 shares outstanding and entitled to vote as of the record date.
All 11 director nominees were elected, each receiving more votes "For" than "Withhold." Stockholders also approved, on a non-binding advisory basis, the compensation of the company’s named executive officers. In addition, they ratified the appointment of Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026.
Ardent Health, Inc. reported first quarter 2026 results showing solid top-line and profit growth. Total revenue rose 7.0% year-over-year to $1.60 billion, driven by a 2.0% increase in adjusted admissions and a 5.5% increase in net patient service revenue per adjusted admission.
Net income attributable to Ardent Health was $39.9 million, or $0.28 per diluted share, compared with $41.4 million, or $0.29, a year earlier as margin mix and non-operating items shifted. Adjusted EBITDA increased 26.3% to $124 million, and excluding a $10.9 million investment gain, grew 15%.
Operationally, total surgeries grew 1.2% while admissions declined 1.1%, reflecting severe weather and a lighter respiratory season. As of March 31, 2026, Ardent held $610 million of cash, $1.1 billion of total debt, and a lease-adjusted net leverage ratio of 2.6x, improved from 3.0x a year earlier. The company reaffirmed full-year 2026 guidance, including total revenue of $6.4–$6.7 billion and Adjusted EBITDA of $485–$535 million.
Ardent Health, Inc. reported that Ethan Chernin, its President, Hospital Services, departed the company effective March 24, 2026. The company classified his departure as a “Qualifying Termination” under its Executive Severance Plan, meaning he will receive severance and related benefits subject to that plan’s terms.
Details of the severance framework are described in Ardent Health’s 2025 proxy statement and in the Executive Severance Plan previously filed as an exhibit to a Form 10-Q for the quarter ended June 30, 2024.
Ardent Health reported mixed fourth quarter and full-year 2025 results and issued 2026 guidance. Full-year 2025 revenue rose to $6.32 billion, up 6.0%, while Adjusted EBITDA increased 9.3% to $545 million, lifting the Adjusted EBITDA margin to 8.6%.
Fourth quarter revenue was $1.61 billion, essentially flat year over year, and Adjusted EBITDA fell 26.6% to $134 million as net income attributable to Ardent Health declined to $45 million, or $0.32 per diluted share. Management noted that prior-year results benefited from two quarters of New Mexico state directed payments.
Operations showed modest volume growth, with admissions up 1.5% and adjusted admissions up 2.0%, while net patient service revenue per adjusted admission decreased 2.4%. For 2025, net cash from operating activities climbed 49% to $471 million, ending the year with $710 million in cash and a net leverage ratio of 0.8x.
In 2025 the company repurchased 0.35 million shares for $3 million. For 2026, Ardent forecasts revenue of $6.4–$6.7 billion, net income attributable to Ardent Health of $129–$183 million, Adjusted EBITDA of $485–$535 million and diluted EPS of $0.90–$1.27, with adjusted admissions growth of 1.5–2.5% and capital expenditures of $225–$265 million.
Ardent Health, Inc. announced that its board of directors has authorized a stock repurchase program for up to $50.0 million of its common stock. The program has no specified expiration date, giving the company flexibility in timing any buybacks. Repurchases may be made through open market purchases, privately negotiated transactions, block trades or other transactions in line with applicable securities laws, including the pricing and volume requirements of Rule 10b-18 under the Exchange Act.
Ardent may also use Rule 10b5-1 plans to facilitate repurchases. The company is not obligated to repurchase any specific amount of shares and can modify, suspend or terminate the program at any time. It expects to fund any repurchases with existing cash and cash equivalents and ongoing cash from operations.
Ardent Health, Inc. (ARDT) furnished its third-quarter 2025 results press release. The company reported that, on November 12, 2025, it issued a press release covering financial results for the quarter ended September 30, 2025, and made it available as Exhibit 99.1 to a current report on Form 8-K under Item 2.02.
The information provided under Item 2.02, including Exhibit 99.1, is furnished rather than filed, meaning it is not subject to Section 18 of the Exchange Act and will only be incorporated by reference into other filings if expressly stated. The filing also lists Exhibit 104 for the cover page interactive data file. This is a routine disclosure that makes the company’s quarterly results press release part of the public record without triggering the liabilities associated with filed materials.
Ardent Health, Inc. amended its term loan and ABL credit facilities with Bank of America and other lenders. The Term Loan Amendment refinanced outstanding term loans in full, extended the term loan maturity from August 24, 2028 to September 18, 2032, reduced the applicable interest spread by 50 basis points (from Term SOFR+2.75% to Term SOFR+2.25%, and from base rate+1.75% to base rate+1.25%), and expanded fixed-dollar negative covenant baskets. The ABL Amendment aligned certain fixed-dollar negative covenant baskets with the term loan changes but did not extend the ABL maturity or make other material changes. The full amendment texts are filed as exhibits and govern the detailed terms.
Ardent Health, Inc. (NYSE: ARDT) filed an 8-K disclosing the immediate departure of David Schultz, President, Hospital Operations, effective June 16 2025. The company classified the exit as a “Qualifying Termination” under its Executive Severance Plan, making Mr. Schultz eligible for severance payments and related benefits, subject to standard plan conditions such as non-compete and non-solicitation covenants.
The filing provides no quantitative detail on payout size, claw-back triggers, or succession plans. Mr. Schultz had overseen the hospital segment, a core operating unit that drives the majority of Ardent’s revenue. Governance protocol appears to have been followed—compensation terms reference disclosures in the April 8 2025 proxy statement and the Q2 2024 10-Q exhibit that contains the Severance Plan.
Investment relevance:
- Unanticipated C-suite turnover can disrupt execution of operational initiatives, regulatory compliance, and cost-containment programs, potentially affecting near-term margin trajectory.
- Because no interim or permanent replacement was announced, investors face visibility risk on leadership continuity in hospital operations.
- Cash severance outflows could be modest relative to Ardent’s scale, but exact magnitude is not provided, limiting assessment of liquidity impact.