UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file numbers: 001-34465 SELECT MEDICAL HOLDINGS CORPORATION (Exact name of Registrant as specified in its Charter) Delaware 20-1764048 (Stat ...

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 ...

New SSM Health Rehabilitation Hospital will open in December 2024 MECHANICSBURG, Pa. and OKLAHOMA CITY, Oct. 17, 2024 /PRNewswire/ -- Select Medical Corporation ("Select Medical") and SSM Health today announced the formation of a joint venture partnership to own and operate a 50-bed inpatient rehabilitation hospital in Oklahoma City to be named SSM Health Rehabilitation Hospital – Oklahoma City. The hospital will operate at 700 NW 7th Street and incorporate SSM Health's 12-bed acute rehabilitation unit pres ...

One bullish call that has played out quite well over the past couple of years is Select Medical Holdings (NYSE: SEM ). For investors not familiar with the business, it serves as one of the largest operators of Crude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential. Subscribers get to use a 50+ stock model account, in-depth cash flow analyses of E&P f ...

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: ...

Select Medical Holdings Corporation (SEM) recently inked an agreement to acquire Valir Rehabilitation Hospital from Valir Health. The hospital is a 50-bed inpatient rehabilitation facility located in Oklahoma City. The financial details of the deal were kept under wraps. This move bodes well for Select Medical as it will expand its footprint in Oklahoma City. The buyout seems to be a time-opportune move on the part of Select Medical as this region is witnessing a growing demand for inpatient rehabilitative ...

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 ...

Financial Data and Key Metrics Changes - The company reported a consolidated adjusted EBITDA growth of 3% and revenue growth of 5% compared to Q2 of the prior year, with total adjusted EBITDA at $226.3 million compared to $219.5 million in the prior year [9][14] - The consolidated adjusted EBITDA margin was 12.9% for Q2 compared to 13.1% in the prior year [9] - Earnings per share and adjusted earnings per share were $0.60 for the second quarter compared to $0.61 per share in the same quarter prior year [14] Business Line Data and Key Metrics Changes - The critical illness recovery hospital division saw a 5% increase in revenue and a 10% increase in adjusted EBITDA compared to the same quarter prior year [10] - The inpatient rehab hospital division experienced an 11% increase in revenue and a 13% increase in adjusted EBITDA compared to Q2 of the prior year [12] - The outpatient rehab division had a 4% increase in revenue, but adjusted EBITDA decreased by 12% compared to the prior year [14] Market Data and Key Metrics Changes - Concentra experienced a 2% increase in net revenues and a 1% increase in adjusted EBITDA over the prior year same quarter, driven by a 4% increase in rate [13] - The average daily census in the critical illness recovery division increased by 1%, while occupancy was slightly down at 67% compared to 68% in the prior year [10] - The outpatient division's patient volumes increased by 4%, maintaining an upward trend [14] Company Strategy and Development Direction - The company plans to open several new rehabilitation hospitals and expand its operations, adding 449 additional beds from 2024 through 2026 [8][6] - The company is focusing on improving clinical efficiencies and scheduling within the outpatient rehab business to enhance margins [28] - The company expects to distribute its remaining interest in Concentra to shareholders within 12 months of the IPO [3] Management Comments on Operating Environment and Future Outlook - Management noted that Q1 was an extraordinary year in terms of volume, which explains the sequential differences in performance between Q1 and Q2 [25] - The company reaffirmed its business outlook for 2024, expecting revenues in the range of $6.9 billion to $7.1 billion and adjusted EBITDA between $845 million to $885 million [22] - Management indicated that borrowing costs are expected to increase in Q4 due to changes in interest rate spreads [32] Other Important Information - The company declared a cash dividend of $0.125, payable on August 30 to stockholders of record as of August 14 [15] - The company did not repurchase shares under its authorized share repurchase program during the quarter [21] - The company ended the quarter with $3.6 billion of debt outstanding and $111.2 million of cash on the balance sheet [18] Q&A Session Summary Question: Inquiry about LTAC margin and sequential decline - Management explained that the sequential decline from Q1 to Q2 is typical, with Q1 usually being the highest quarter due to extraordinary volumes [24][25] Question: Outpatient rehab business margins and efficiencies - Management indicated that while rate increases would positively impact margins, they are also focusing on clinical efficiencies and scheduling improvements [28][30] Question: Trends in underlying wage rates for permanent staff - Management reported that underlying wage rates are trending in the 3% to 3.5% range, returning to pre-pandemic levels [31] Question: Guidance assumptions for borrowing costs - Management confirmed that guidance includes an increase in borrowing costs, particularly in Q4, due to changes in interest rate spreads [32]