National HealthCare Corporation Announces September 30, 2024 Earnings

National HealthCare Corporation (NHC), based in Murfreesboro, Tennessee, recently reported its financial performance for the quarter ended September 30, 2024. The company issued a press release on November 8, 2024, disclosing its earnings for the period.

According to the report, NHC’s total revenue for the third quarter of 2024 amounted to $489.6 million, reflecting a 3.3% increase compared to the same period last year. The growth in revenue was primarily driven by stable workers’ compensation visit volume and reimbursement rate increases across different visit types.

The company’s net income for the quarter was $45.8 million, showing a slight decrease from the previous year. Meanwhile, NHC’s Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased to $101.6 million, up by 2.7% from the same quarter in 2023. The growth in Adjusted EBITDA was attributed to revenue growth and enhanced efficiencies in general and administrative expenses.

NHC’s capital expenditures, excluding acquisitions, totaled $15.1 million during the third quarter. Additionally, the Board of Directors approved a dividend of $0.0625 per share, payable on November 22, 2024.

Looking ahead, NHC provided its full-year guidance for 2024. The company expects total revenue to reach approximately $1.9 billion for the year, with Adjusted EBITDA projected to fall within the range of $370 million to $375 million. The company also anticipates capital expenditures of $65 million to $70 million for the year, while targeting a net leverage ratio of 3.5x to 3.6x by the end of 2024.

NHC has highlighted its focus on stable enterprise-wide growth and profitability, with an aim to achieve an Adjusted EBITDA margin exceeding 20%. The company remains committed to generating robust free cash flow and prudent capital allocation strategies.

The Experienced Leadership Team at NHC, with a cumulative 275 years of experience, is guiding the company through its growth initiatives and financial objectives. Supported by a Board of Directors with extensive healthcare leadership expertise, NHC is well-positioned to navigate the evolving landscape of healthcare services.

For investors and stakeholders, NHC continues to showcase its competitive strengths, highlighting its leadership in occupational health services, diversified service offerings, operational excellence, positive patient satisfaction, and deep customer relationships. The company’s financial performance and strategic outlook underscore its commitment to delivering value for shareholders and sustaining growth in the long term.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read National HealthCare’s 8K filing here.

National HealthCare Company Profile

National HealthCare Corporation engages in the operation of services to skilled nursing facilities, assisted and independent living facilities, homecare and hospice agencies, and health hospitals. Its skilled nursing facilities offer licensed therapy services, nutrition services, social services, activities, and housekeeping and laundry services, as well as medical services prescribed by physicians; and rehabilitative services, such as physical, speech, respiratory, and occupational therapy for patients recovering from strokes, heart attacks, orthopedic conditions, neurological illnesses, or other illnesses, injuries, or disabilities.