NHC Q3 2022 Earnings Report
Key Takeaways
National HealthCare Corporation reported net operating revenues of $270.84 million and a GAAP net loss attributable to NHC of $2.43 million for the quarter ended September 30, 2022. The decrease in net operating revenues was primarily driven by a reduction in government stimulus income and exiting seven skilled nursing facilities. Adjusted net income for the quarter was $7.78 million, compared to $14.88 million for the same period in 2021.
Net operating revenues and government stimulus income totaled $270.84 million, a 2.1% decrease compared to Q3 2021.
GAAP net loss attributable to NHC was $2.43 million, compared to a net loss of $3.35 million for the same period in 2021.
Adjusted net income was $7.78 million, compared to $14.88 million for the same period in 2021.
GAAP diluted loss per share was $0.16, compared to a diluted loss per share of $0.22 for the same period in 2021.
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Forward Guidance
NHC cautions investors that any forward-looking statements made involve risks and uncertainties and are not guarantees of future performance.