Manor Care Q3 earnings fall on buy-out costs
Nov 9 (Reuters) - Manor Care Inc HCR.N, which has agreed to be acquired by private equity firm Carlyle Group for $4.9 billion, posted a lower third-quarter profit hurt by merger-related costs.
For the quarter, the company earned $39.4 million, or 49 cents a share, including the costs of 16 cents a share, compared with $46.5 million, or 60 cents a share, a year ago. Revenue rose 6 percent to $967.8 million.
Analysts on average were expecting the nursing home operator to earn 68 cents a share, before items, on revenue of $983.3 million, according to Reuters Estimates. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Deepak Kannan)
© Thomson Reuters 2016 All rights reserved.