Select Medical Q1 2022 Earnings Report
Key Takeaways
Select Medical Holdings Corporation announced its first quarter results for the period ended March 31, 2022. Revenue increased by 3.4% to $1,599.5 million, while net income decreased to $55.9 million, and income from operations decreased to $104.0 million.
Revenue increased by 3.4% to $1,599.5 million compared to the same quarter last year.
Net income was $55.9 million, a decrease from $137.2 million in the same quarter last year.
Income from operations was $104.0 million, compared to $202.0 million for the same quarter, prior year.
Earnings per common share was $0.37, compared to $0.82 for the same quarter, prior year.
Select Medical
Select Medical
Select Medical Revenue by Segment
Forward Guidance
Select Medical reaffirms its 2022 business outlook for revenue, expecting 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.
Positive Outlook
- Consolidated revenue is expected to be in the range of $6.25 billion to $6.40 billion for the full year of 2022.
- Three-year compound annual growth rate target for revenue is expected to be in the range of 4% to 6% for 2021 through 2023.
Challenges Ahead
- 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income