The following is a summary of the Select Medical Holdings Corporation (SEM) Q2 2024 Earnings Call Transcript:
Financial Performance:
Select Medical reported a strong Q2 with consolidated adjusted EBITDA growing 3% and revenue growing by 5% compared to Q2 of the prior year.
Outpatient rehab division saw a revenue increase of 4% with patient volumes increasing by the same percentage.
Earnings per share (EPS) were $0.60 for the second quarter compared to $0.61 per share in the same quarter prior year.
Business Progress:
Successfully completed Concentra IPO, issuing 22,500,000 shares at a price of $23.50.
Six Select Medical rehabilitation hospitals ranked top nationwide by US News & World Report for 2024-2025.
Opened a new critical illness recovery hospital in Chicago with RUSH University, adding 44 critical illness and 56 rehab beds.
Planning to open additional rehab facilities over 2024-2026 adding 449 beds across various locations.
Opportunities:
Concentra IPO and subsequent developments provide significant financial restructuring and growth opportunities.
Top rankings for rehabilitation hospitals enhance brand prestige and market trust, potentially increasing patient inflow.
Risks:
Startup losses associated with new hospital openings impact immediate profitability.
More details: Select Medical Holdings IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
