Select Medical Holdings Corporation · Q3 2022 earnings

Briefing

Select Medical's financial performance decreased due to various factors, including the pandemic's ongoing effects.

Select Medical Holdings Corporation reported a revenue increase of 2.2% to $1,567.8 million for the third quarter ended September 30, 2022. However, net income decreased to $38.1 million, and earnings per common share was $0.21, compared to $100.2 million and $0.57, respectively, for the same quarter last year.

• Revenue increased by 2.2% to $1,567.8 million compared to the same quarter last year.
• Net income decreased to $38.1 million compared to $100.2 million for the same quarter last year.
• Earnings per common share decreased to $0.21 compared to $0.57 for the same quarter last year.
• The company reaffirms its 2022 business outlook for revenue, expecting consolidated revenue to be in the range of $6.25 billion to $6.40 billion.

Headline financials

Revenue & EPS history

Select Medical reaffirms its 2022 business outlook for revenue, which was provided most recently in its press release issued on August 4, 2022. Select Medical continues to expect consolidated revenue to be in the range of $6.25 billion to $6.40 billion for the full year of 2022. Select Medical is also reaffirming its previously issued three-year compound annual growth rate target for revenue only, which is expected to be in the range of 4% to 6% for 2021 through 2023. Select Medical intends to address its business outlook and target compound annual growth rates for Adjusted EBITDA and earnings per common share when the labor climate stabilizes.