Select Medical(US:SEM)2025-10-30 20:38Revenue Performance - Revenue for Q3 2025 increased 7.2% to $1,363.4 million compared to $1,271.6 million in Q3 2024[3] - For the nine months ended September 30, 2025, revenue increased 4.7% to $4,056.2 million compared to $3,874.5 million in the same period of 2024[4] - The rehabilitation hospital segment saw a revenue increase of 16.2% to $328.6 million in Q3 2025 compared to $282.7 million in Q3 2024[9] - The outpatient rehabilitation segment's revenue increased 3.2% to $960.3 million for the nine months ended September 30, 2025, compared to $930.7 million in the same period of 2024[12] - Total revenue for Q3 2025 increased to $609,929, a 4.6% rise from $582,950 in Q3 2024[33] - Total revenue for the nine months ended September 30, 2025 was $1,848,098, a slight increase of 0.2% from $1,843,751 in 2024[34] Income and Earnings - Income from continuing operations before other income and expense rose 32.9% to $73.0 million for Q3 2025, up from $54.9 million in Q3 2024[3] - Net income attributable to Select Medical decreased by 48.2% to $28,793 in Q3 2025 from $55,628 in Q3 2024[24] - Income from continuing operations before income taxes rose by 22.5% to $55,929 in Q3 2025, up from $45,650 in Q3 2024[24] - Earnings per share for continuing operations increased to $0.23 in Q3 2025 from $0.19 in Q3 2024[29] - Net income for Q3 2025 decreased to $44,180, down 45.5% from $81,015 in Q3 2024[31] - Adjusted income from continuing operations, net of tax, attributable to common shares for Q3 2024 was $32,151,000, compared to $28,087,000 in Q3 2025, reflecting a decrease of 12.5%[42] Adjusted EBITDA - Adjusted EBITDA for Q3 2025 increased 7.5% to $111.7 million compared to $103.9 million in Q3 2024[3] - Adjusted EBITDA for Q3 2025 rose to $56,102, reflecting a 10.5% increase compared to $50,763 in Q3 2024[33] - The Adjusted EBITDA margin for the critical illness recovery hospital segment was 10.8% for the nine months ended September 30, 2025, down from 12.9% in the same period of 2024[8] - Select Medical's rehabilitation hospital segment generated $60,117,000 in Adjusted EBITDA for Q3 2024, increasing to $67,956,000 in Q3 2025, a growth of 13.0%[38] - Full year 2025 Adjusted EBITDA is projected to range between $510,000,000 and $530,000,000[46] Cash Flow and Expenses - Cash provided by operating activities for the nine months ended September 30, 2025 was $282,142, down 28.2% from $392,432 in the same period of 2024[32] - General and administrative expenses decreased by 25.4% to $108,721 for the nine months ended September 30, 2025, compared to $145,672 in 2024[26] - Cash paid for interest during the nine months ended September 30, 2025 was $84,002, down 61.2% from $216,757 in 2024[32] - Interest expense for Q3 2024 was $31,379,000, slightly decreasing to $30,021,000 in Q3 2025[38] Shareholder Returns and Stock Activity - The Board of Directors declared a cash dividend of $0.0625 per share, payable on or about November 25, 2025[13] - Select Medical repurchased 6,375,512 shares at a cost of approximately $96.5 million during the nine months ended September 30, 2025[16] Balance Sheet - Total assets increased to $5,685,723 as of September 30, 2025, compared to $5,607,951 at the end of 2024[30] - Total liabilities rose to $3,665,867 as of September 30, 2025, up from $3,610,856 at the end of 2024[30] Operational Metrics - Number of hospitals operated at the end of Q3 2025 was 105, a decrease from 106 in Q3 2024[33] - Revenue per patient day for Q3 2025 increased to $2,287, a 6.6% increase from $2,145 in Q3 2024[33] - Number of admissions in Q3 2025 increased to 8,859, a 2.1% rise from 8,676 in Q3 2024[33] - The number of patients admitted to Select Medical's hospitals during the periods presented is a critical metric for assessing operational performance[35] - The occupancy rate of hospitals is calculated using the number of patient days divided by total bed days available, indicating utilization levels[35] - Average revenue per patient day for the periods presented is calculated by dividing patient service revenues by total patient days, highlighting operational efficiency[35] Tax and Debt - Income tax expense from continuing operations increased by 168.6% to $11,749 in Q3 2025 from $4,374 in Q3 2024[24] - The company reported a loss on early retirement of debt amounting to $10,939 in both the three and nine months ended September 30, 2024[26] - The company reported a loss on early retirement of debt amounting to $10,939,000 for the nine months ended September 30, 2024[38]