Select Medical Subsidiary Estimates $477.9M Revenue

By Bobby Samwell • Saturday, July 13 15:16 • Permanent Link

Select Medical Holdings Corporation has announced an estimate of certain financial results of its wholly-owned subsidiary, Concentra Group Holdings Parent, Inc., for the second quarter ended June 30, 2024. The company expects Concentra's net operating revenue for the second quarter of 2024 to be approximately $477.9 million, with income from operations estimated to be around $83.9 million.

Comparing certain key statistics for the second quarters ended June 30, 2024, and 2023, we see the following changes:

Net operating revenue for Q2 2024 is estimated to be approximately $477.9 million, compared to $441.6 million for Q2 2023, representing an increase of approximately $36.3 million.
Income from operations for Q2 2024 is estimated to be approximately $83.9 million, while for Q2 2023, it was approximately $67.4 million, indicating an increase of approximately $16.5 million.

These estimates are subject to change upon the completion of Select Medical’s financial statement closing procedures. The company will host a conference call regarding its second-quarter results and business outlook on Friday, August 2, 2024, at 9:00 am ET.

As of June 30, 2024, Select Medical operated 107 critical illness recovery hospitals in 29 states, 33 rehabilitation hospitals in 13 states, 1,925 outpatient rehabilitation clinics in 39 states and the District of Columbia, and 547 occupational health centers in 41 states.

For more information about Select Medical, visit www.selectmedical.com. Following these announcements, the company's shares moved 1.3%, and are now trading at a price of $37.49. Check out the company's full 8-K submission here.

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