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Dec 31, 2021
Select Medical Q4 2021 Earnings Report
Announced results for its fourth quarter and year ended December 31, 2021 and the declaration of a cash dividend.
Key Takeaways
Select Medical Holdings Corporation reported a 6.8% increase in revenue to $1,559.8 million for the fourth quarter ended December 31, 2021, compared to $1,460.5 million for the same quarter the prior year. Net income was $66.3 million, compared to $102.2 million for the same quarter the prior year. Earnings per common share was $0.37, compared to $0.57 for the same quarter the prior year.
Revenue increased by 6.8% to $1,559.8 million compared to the same quarter last year.
Income from operations was $77.5 million, including $8.0 million from the Provider Relief Fund.
Net income was $66.3 million, which included a pre-tax gain on sale of businesses of $2.2 million.
Earnings per common share was $0.37, compared to $0.57 for the same quarter last year.
Select Medical
Select Medical
Select Medical Revenue by Segment
Revenue by Segment
Critical Illness Recovery Hospital Revenue
CapyFin.comRehabilitation Hospital Revenue
CapyFin.comOutpatient Rehabilitation Revenue
CapyFin.com Forward Guidance
Select Medical expects 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
- Revenue expected to be in the range of $6.25B to $6.40B for 2022.
- Reaffirming three-year compound annual growth rate target for revenue of 4% to 6% for 2021 through 2023.
Challenges Ahead
- Uncertainties due to significantly increased labor costs resulting from higher than expected use of agency clinical staff.
- Select Medical intends to readdress 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