MECHANICSBURG, Pa., Nov. 18, 2024 /PRNewswire/ -- Select Medical Holdings Corporation ("Holdings") (NYSE: SEM), today announced that Select Medical Corporation ("Select") has commenced a private offering (the "Offering"), subject to market and other customary conditions, of $850 million in aggregate principal amount of senior notes due 2032 (the "notes"). The notes will be senior unsecured obligations of Select and will be guaranteed by certain of Select's existing and future domestic subsidiaries.Concurren ...

Medical worker shows the structure of a recipe.gettyOn November 06, Select Medical Holdings (NYSE: SEM; $40.20; Market Cap: $5.2 billion) announced a special stock distribution of its carved out unit Concentra Holdings (NYSE: CON; $19.67; Market Cap: $2.5 billion) to its shareholders. The distribution is set for November 25, 2024, with a record date of November 18, 2024. Shareholders will receive approximately 0.806971 shares of Concentra’s common stock for each share of Select Medical stock they own. This ...

Select Medical Holdings Corporation’s (SEM) stock gained 13.8% since it reported third-quarter 2024 results on Oct. 31, 2024. Upward revision in revenues and adjusted EBITDA outlook might have buoyed investors’ confidence in the stock. The third-quarter results benefited on the back of growth in patient days and revenue per patient day at the Critical Illness Recovery Hospital and Rehabilitation Hospital.SEM reported third-quarter 2024 adjusted earnings per share (EPS) of 50 cents, which surpassed the Zacks ...

Financial Data and Key Metrics Changes - The consolidated adjusted EBITDA grew 6% from $193.8 million to $205.5 million, with an adjusted EBITDA margin of 11.7% compared to 11.6% in the prior year Q3 [16][25] - Revenue increased by 6% compared to Q3 of the prior year [16] - EPS was $0.43 per share for the third quarter compared to $0.38 per share in the same quarter prior year [25] Business Line Data and Key Metrics Changes - The inpatient rehab hospital division had a 14% increase in revenue and a 12% increase in adjusted EBITDA compared to Q3 of the prior year [20] - The critical illness recovery hospital division saw a 3% increase in revenue and a 9% increase in adjusted EBITDA compared to the same quarter prior year [17] - The outpatient rehab division experienced a 7% increase in revenue, with patient volumes increasing by 6% [24] Market Data and Key Metrics Changes - Concentra experienced increases of 3% in both net revenue and adjusted EBITDA over the prior year same quarter, driven by a 4% increase in rate [23] - The outpatient division's adjusted EBITDA margin increased from 9% to 9.1% [25] Company Strategy and Development Direction - The company plans to open several new inpatient rehab hospitals and expand its operations, adding 569 additional beds from 2024 through 2026 [13][11] - The development pipeline is described as robust, with opportunities in both inpatient and outpatient rehab [48] - The company aims to maintain a leverage ratio of around 3 times, allowing flexibility in capital deployment [49] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operating environment, noting improvements in labor costs and occupancy rates [29][44] - The company updated its business outlook for 2024, expecting revenue in the range of $6.95 billion to $7.15 billion and adjusted EBITDA between $865 million to $885 million [42] Other Important Information - The company completed Concentra's initial public offering, retaining an 81.74% ownership stake [5][6] - A cash dividend of $0.125 was declared, payable on November 26, 2024 [26] - The company did not repurchase shares during the quarter but continues to evaluate stock repurchases and debt reduction [41] Q&A Session Summary Question: Comments on LTAC occupancy trends - Management noted that the occupancy rate was higher than the prior year and attributed it to seasonal factors rather than staffing issues [44] Question: Thoughts on capital deployment and leverage - Management indicated a preference to maintain leverage around 3 times and emphasized a robust development pipeline [49] Question: Additional progress on SWB as a percent of revenue - Management believes there is room for improvement and expects to end the year in the 57% range [57] Question: Keys for outpatient rehab margin improvement - Management highlighted clinical efficiency and technology improvements as major factors for future margin enhancements [61]

MECHANICSBURG, Pa., Oct. 31, 2024 /PRNewswire/ -- Select Medical Holdings Corporation ("Select Medical," "we," "us," or "our") (NYSE: SEM) today announced results for its third quarter ended September 30, 2024, and the declaration of a cash dividend.For the third quarter ended September 30, 2024, revenue increased 5.7% to $1,761.2 million, compared to $1,665.7 million for the same quarter, prior year. Income from operations increased 8.6% to $141.1 million for the third quarter ended September 30, 2024, com ...

MECHANICSBURG, Pa., Oct. 1, 2024 /PRNewswire/ -- Select Medical Holdings Corporation ("Select Medical") (NYSE: SEM), will release the financial results for its third quarter ended September 30, 2024 on Thursday, October 31, 2024 after the market closes. Select Medical will host a conference call regarding its third quarter results, as well as its business outlook, on Friday, November 1, 2024, at 9:00am ET. The conference call will be a live webcast and can be accessed at via this Earnings Call Webcast Link ...

The healthcare player, Select Medical Holdings Corporation (SEM) , has seen its shares jump 50.2% in the year-to-date period, outpacing the industry's 47% growth. The company also outperformed the broader S&P 500 Index's return of 18.1%. Currently trading at $35.30, SEM's price is nearing the upper end of its 52-week range of $21.28 to $40.50. Given this performance so far, can investors still consider holding on to Select Medical stock, or should you book profits? SEM's YTD Price Performance Image Source: ...

MECHANICSBURG, Pa., Sept. 4, 2024 /PRNewswire/ -- Select Medical Corporation ("Select Medical") today announced the signing of a definitive agreement to purchase Valir Rehabilitation Hospital, a 50-bed inpatient rehabilitation facility in Oklahoma City, from Valir Health. Financial terms of the deal were not disclosed. "We are excited to bring best-in-class inpatient rehabilitative care to meet the demands of the growing Oklahoma City population," said Tom Mullin, president of Select Medical. "We are alread ...

Select Medical Holdings Corporation's (SEM) stock lost 16.9% since it reported second-quarter 2024 results on Aug 1, 2024. Although it beat estimates thanks to improving patient days in the Critical Illness Recovery and Rehabilitation units, investors might have been worried about an elevated expense level and declining visits in the Concentra unit. SEM reported second-quarter 2024 adjusted earnings per share (EPS) of 60 cents, which surpassed the Zacks Consensus Estimate by 1.7%. However, the bottom line d ...

Select Medical (SEM) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $0.61 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 1.69%. A quarter ago, it was expected that this hospital and rehabilitation center operator would post earnings of $0.55 per share when it actually produced earnings of $0.77, delivering a surprise of 40%. Over the ...