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Select Medical Holdings Corporation Announces Results For Its Fourth Quarter and Year Ended December 31, 2024, Its 2025 Business Outlook, and Cash Dividend
SEMSelect Medical(SEM) Prnewswire·2025-02-20 21:34

Core Viewpoint - Select Medical Holdings Corporation reported its fourth quarter and full year results for 2024, highlighting revenue growth but a net loss due to one-time expenses related to the distribution of Concentra and debt refinancing [1][3][4]. Financial Performance - For Q4 2024, revenue increased by 7.8% to 1,312.6millioncomparedto1,312.6 million compared to 1,218.1 million in Q4 2023 [3]. - Income from continuing operations before other income and expense was 21.1million,adecreaseof67.521.1 million, a decrease of 67.5% from 64.9 million in the same quarter last year [3]. - The net loss from continuing operations was 10.5million,comparedtoaprofitof10.5 million, compared to a profit of 30.3 million in Q4 2023 [3]. - Adjusted EBITDA for Q4 2024 rose by 3.8% to 116.0millionfrom116.0 million from 111.8 million in Q4 2023 [3]. - For the full year 2024, revenue grew by 7.5% to 5,187.1millionfrom5,187.1 million from 4,826.0 million in 2023 [4]. - Income from continuing operations, net of tax, increased by 17.7% to 130.0millioncomparedto130.0 million compared to 110.5 million in 2023 [4]. - Adjusted EBITDA for the year increased by 14.4% to 510.4millionfrom510.4 million from 446.1 million in 2023 [4]. Segment Performance - Critical Illness Recovery Hospital Segment: - Q4 revenue increased by 5.9% to 600.4million[6].−Fullyearrevenueroseby6.3600.4 million [6]. - Full year revenue rose by 6.3% to 2,444.2 million [8]. - Rehabilitation Hospital Segment: - Q4 revenue increased by 13.1% to 294.4million[9].−Fullyearrevenuegrewby13.4294.4 million [9]. - Full year revenue grew by 13.4% to 1,110.6 million [10]. - Outpatient Rehabilitation Segment: - Q4 revenue increased by 7.2% to 319.6million[11].−Fullyearrevenueroseby5.2319.6 million [11]. - Full year revenue rose by 5.2% to 1,250.3 million [12]. Dividend and Stock Repurchase - A cash dividend of 0.0625persharewasdeclared,payableonoraboutMarch13,2025[13].−Theboardauthorizedastockrepurchaseprogramofupto0.0625 per share was declared, payable on or about March 13, 2025 [13]. - The board authorized a stock repurchase program of up to 1.0 billion, which will remain in effect until December 31, 2025 [15]. Financing Transactions - A new incremental term loan of 1,050.0millionwasestablished,maturingonDecember3,2031[18].−Issued1,050.0 million was established, maturing on December 3, 2031 [18]. - Issued 550.0 million of 6.250% senior notes due December 1, 2032, to refinance existing debt [19]. Business Outlook - For 2025, Select Medical expects revenue between 5.4billionand5.4 billion and 5.6 billion, with Adjusted EBITDA in the range of 520.0millionto520.0 million to 540.0 million [20].