Wake Forest Baptist Fiscal Year 2020 Third Quarter Performance

May 29, 2020

By: Bradley A. Clark, M.B.A., Executive Vice President and Chief Financial Officer,  Wake Forest Baptist Health

Re: FY20 Q3 Financial Performance

Wake Forest Baptist Health today released its third quarter report on operating performance and operating statistics for fiscal year 2020 (FY20).

For the nine-month period (July 1, 2019 – March 31, 2020), total net revenues of $2.7 billion were 9.4% higher than the prior year.

Unrestricted net assets decreased by $80.7 million for the nine-month period. This decline is comprised of operating income of -$1.3 million (0.0% operating margin) and net non-operating losses of $79.4 million.

The balance of the report with accompanying financial statements can be found at the Municipal Securities Rulemaking Board.

Media Contacts

Joe McCloskey, jmcclosk@wakeheath.edu, 336-716-1273

Paula Faria, pfaria@wakehealth.edu, 336-716-1279