Last10K.com

Select Medical Corp (1035688) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Select Medical Corp

CIK: 1035688

Exhibit 99.1

 

 

 

FOR IMMEDIATE RELEASE

 

 

4714 Gettysburg Road

Mechanicsburg, PA 17055

 

NYSE Symbol: SEM

 

Select Medical Holdings Corporation Announces Results

For Its Fourth Quarter and Year Ended December 31, 2018

 

MECHANICSBURG, PENNSYLVANIA — February 21, 2019 — Select Medical Holdings Corporation (“Select Medical”) (NYSE: SEM) today announced results for its fourth quarter and year ended December 31, 2018.

 

For the fourth quarter ended December 31, 2018, net operating revenues increased 15.6% to $1,264.7 million, compared to $1,094.2 million for the same quarter, prior year. Income from operations increased 15.6% to $88.3 million for the fourth quarter ended December 31, 2018, compared to $76.4 million for the same quarter, prior year. Net income was $29.7 million for the fourth quarter ended December 31, 2018, compared to $121.1 million for the same quarter, prior year. For the fourth quarter ended December 31, 2018, net income included pre-tax losses on early retirement of debt of $3.9 million. For the fourth quarter ended December 31, 2017, net income included pre-tax U.S. HealthWorks acquisition costs of $2.8 million and an income tax benefit of $71.5 million resulting from the federal tax reform legislation enacted on December 22, 2017. Adjusted EBITDA increased 18.0% to $147.1 million for the fourth quarter ended December 31, 2018, compared to $124.6 million for the same quarter, prior year. Earnings per common share was $0.18 on a fully diluted basis for the fourth quarter ended December 31, 2018, compared to $0.75 for the same quarter, prior year. Adjusted earnings per common share was $0.20 on a fully diluted basis for the fourth quarter ended December 31, 2018, compared to $0.32 for the same quarter, prior year. For the fourth quarter ended December 31, 2018, adjusted earnings per common share excluded the pre-tax losses on early retirement of debt and their related tax effects. For the fourth quarter ended December 31, 2017, adjusted earnings per common share excluded the U.S. HealthWorks acquisition costs and its related tax effects as well as the income tax benefit resulting from the federal tax reform legislation. The definition of Adjusted EBITDA and a reconciliation of net income to Adjusted EBITDA are presented in table IX of this release. A reconciliation of earnings per common share to adjusted earnings per common share is presented in table X of this release.

 

For the year ended December 31, 2018, net operating revenues increased 16.4% to $5,081.3 million, compared to $4,365.2 million for the prior year. Income from operations increased 17.3% to $417.3 million for the year ended December 31, 2018, compared to $355.9 million for the prior year. Net income was $176.9 million for the year ended December 31, 2018, compared to $220.6 million for the prior year. For the year ended December 31, 2018, net income included pre-tax losses on early retirement of debt of $14.2 million, pre-tax non-operating gains of $9.0 million, and pre-tax U.S. HealthWorks acquisition costs of $2.9 million. For the year ended December 31, 2017, net income included a pre-tax loss on early retirement of debt of $19.7 million, pre-tax U.S. HealthWorks acquisition costs of $2.8 million, and an income tax benefit of $71.5 million resulting from the federal tax reform legislation enacted on December 22, 2017. Adjusted EBITDA increased 19.9% to $645.2 million for the year ended December 31, 2018, compared to $538.0 million for the prior year. Earnings per common share was $1.02 on a fully diluted basis for the year ended December 31, 2018, compared to $1.33 for the prior year. Adjusted earnings per common share was $1.03 on a fully diluted basis for the year ended

 


The following information was filed by Select Medical Corp on Thursday, February 21, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Select Medical Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Select Medical Corp.

Continue

Assess how Select Medical Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Select Medical Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
Other
Filter Subcategory:
All
Earnings
Product
Expense
Shares
Cash Flow
Debt
Income
Other
Inside Select Medical Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Changes In Equity And Income (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Accounting Policies
Accounting Policies (Policies)
Accounting Policies (Tables)
Accounting Policies - Narrative (Details)
Accounting Policies - Schedule Of Redeemable Non-Controlling Interests (Details)
Acquisitions
Acquisitions (Tables)
Acquisitions - Pro Forma Results (Details)
Acquisitions - U.S. Healthworks Acquisition (Details)
Basis Of Presentation
Commitments And Contingencies
Commitments And Contingencies - Litigation (Details)
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information (Tables)
Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheet (Details)
Condensed Consolidating Financial Information - Condensed Consolidating Statement Of Cash Flows (Details)
Condensed Consolidating Financial Information - Condensed Consolidating Statement Of Operations (Details)
Condensed Consolidating Financial Information - Narrative (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Computation Of Eps Under The Two-Class Method (Details)
Earnings Per Share - Narrative (Details)
Earnings Per Share - Net Income Attributable To The Company, Common Shares Outstanding, And Participating Securities Outstanding (Details)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - Carrying Amount Of Goodwill (Details)
Intangible Assets - Carrying Value And Amortization Of Identifiable Intangible Assets And Liabilities (Details)
Leases
Leases (Tables)
Leases - Maturities Of Operating And Finance Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Schedule Of Lease Cost (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases - Weighted Average Lease Terms And Discount Rates (Details)
Long-Term Debt And Notes Payable
Long-Term Debt And Notes Payable (Tables)
Long-Term Debt And Notes Payable - Components Of Long-Term Debt And Notes Payable (Details)
Long-Term Debt And Notes Payable - Excess Cash Flow Payment (Details)
Long-Term Debt And Notes Payable - Fair Value (Details)
Long-Term Debt And Notes Payable - Principal Maturities Of Long-Term Debt (Details)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Details)
Revenue From Contracts With Customers (Tables)
Sale Of Businesses
Sale Of Businesses (Details)
Segment Information
Segment Information (Tables)
Segment Information - Reconciliation Of Adjusted Ebitda To Income Before Taxes (Details)
Segment Information - Selected Financial Data (Details)
Variable Interest Entities
Variable Interest Entities (Details)

Material Contracts, Statements, Certifications & more

Select Medical Corp provided additional information to their SEC Filing as exhibits

CIK: 1035688
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-19-005696
Submitted to the SEC: Thu May 02 2019 12:45:40 PM EST
Accepted by the SEC: Thu May 02 2019
Period: Sunday, March 31, 2019
Industry: Specialty Outpatient Facilities

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/1035688/0001628280-19-005696.htm