Shares of Ardent Health Partners (ARDT) plummeted 12.79% in after-hours trading on Wednesday, following the release of its fourth-quarter 2025 financial results and 2026 outlook.

The healthcare provider reported quarterly earnings of $0.32 per share, which missed the analyst consensus estimate of $0.36 by 10.61%. Quarterly sales of $1.605 billion also fell short of the $1.631 billion estimate, representing a 1.60% miss. This marks a significant 60.49% decrease in earnings per share compared to the same period last year.

Furthermore, the company issued full-year 2026 guidance that appears cautious. Its adjusted EBITDA guidance range of $485 to $535 million came in below the Ibes estimate of $527.2 million. In its earnings press release, management cited headwinds from the annualization of elevated professional fees, payor denial pressures, Exchange disruption, and the restoration of short-term compensation as reasons for taking a prudent approach to its 2026 outlook.