Business Wire·Nov 7, 2025, 7:00 AM ET

NHC Reports Third Quarter 2025 Earnings

NHC

National HealthCare Corporation reported net operating revenues of $382,661,000 for the quarter ended September 30, 2025, representing a 12.5% increase compared to $340,198,000 in the same period of 2024.
The revenue increase was driven by an 8.7% rise in same-facility net operating revenues & the August 1, 2024 acquisition of White Oak Management, Inc.
GAAP net income attributable to NHC for the quarter was $39,239,000, down from $42,789,000 in the prior year period.
Adjusted net income excluding unrealized gains/losses on marketable equity securities & other non-GAAP adjustments rose 24.3% to $24,744,000 from $19,910,000 in the prior year quarter.
GAAP diluted earnings per share were $2.50 for the quarter ended September 30, 2025, compared to $2.73 in 2024.
Adjusted diluted earnings per share were $1.58 for the quarter ended September 30, 2025, compared to $1.27 in 2024.
As of November 1, 2025, NHC affiliates operate 80 skilled nursing facilities with 10,329 beds, 26 assisted living communities, 9 independent living communities, 3 behavioral health hospitals, 34 homecare agencies, & 33 hospice agencies.
Total net patient revenues for the quarter reached $370,989,000, while salaries, wages, & benefits totaled $233,176,000.
Cash, cash equivalents, & marketable securities increased to $297,383,000 at September 30, 2025, from $216,185,000 at December 31, 2024.
Skilled nursing per diems for Medicare averaged $613.12 in the third quarter of 2025, up from $578.12 in the prior year period.
The average Managed Care skilled nursing per diem decreased to $417.32 due to delayed timing of incentive quality payments from the NHC Advantage managed care program.
The company declared dividends of $0.64 per common share for the quarter ended September 30, 2025, compared to $0.61 in the same period of 2024.