Encompass Health Corp Stock Price, News & Analysis

Encompass Health (NYSE: EHC) has announced a quarterly cash dividend on its common stock. The board of directors has declared a dividend of $0.17 per share, which will be payable on January 15, 2025. Shareholders who are holders of record on January 2, 2025, will be eligible to receive this dividend.

Encompass Health Corp. (NYSE: EHC) has announced the date for its 2024 third quarter earnings call. The company will report its results for the quarter ended Sept. 30, 2024, after market close on Monday, Oct. 28, 2024. An investor conference call is scheduled for Tuesday, Oct. 29, 2024, at 10 a.m. ET.

Investors can access the call by dialing 800-343-4849 (US) or 203-518-9848 (international) and using the conference ID EHCQ324. A live webcast and replay of the call will be available on the company's investor website at https://investor.encompasshealth.com.

Encompass Health, the largest owner and operator of inpatient rehabilitation hospitals in the U.S., has opened its 165th hospital nationwide and ninth in South Carolina. The new 39-bed Encompass Health Rehabilitation Hospital of Fort Mill is located at 2260 Vista Road and will serve the Fort Mill and greater Charlotte area.

The hospital specializes in rehabilitative services for patients recovering from strokes, brain injuries, spinal cord injuries, amputations, and complex orthopedic conditions. Patients receive intensive therapy for a minimum of three hours, five days a week, along with frequent physician visits and 24-hour nursing care.

Amenities include private patient rooms, advanced rehabilitation technologies, an activities of daily living suite, in-house dialysis suite, therapy courtyard, and in-house pharmacy. The hospital aims to address the rapidly growing need for inpatient rehabilitative care in the region.

Encompass Health (NYSE: EHC), the largest inpatient rehabilitation hospital operator in the US, reported strong Q2 2024 results. Net operating revenue increased 9.6% to $1,301.2 million, driven by 6.7% discharge growth and 2.0% net patient revenue per discharge growth. Adjusted EBITDA rose 8.9% to $271.8 million. Income from continuing operations per diluted share grew 24.2% to $1.13, while adjusted earnings per share increased 16.8% to $1.11.

The company added 194 beds and made progress on key initiatives. Based on strong performance, Encompass Health increased its full-year 2024 guidance, projecting net operating revenue of $5,275 to $5,350 million, adjusted EBITDA of $1,040 to $1,075 million, and adjusted EPS of $3.97 to $4.22.

Encompass Health (NYSE: EHC) has opened a new 50-bed inpatient rehabilitation hospital in Johnston, Rhode Island. The Encompass Health Rehabilitation Hospital of Johnston aims to help patients recover from conditions such as strokes, brain injuries, spinal cord injuries, amputations, and complex orthopedic conditions. The facility offers:

• Minimum three hours of intensive therapy five days a week
• Frequent physician visits and 24-hour nursing care
• Private patient rooms and advanced rehabilitation technologies
• In-house dialysis suite and pharmacy

This expansion strengthens Encompass Health's position as the largest owner and operator of rehabilitation hospitals in the United States, now serving one in three patients receiving inpatient rehabilitation care nationwide.

Encompass Health Corp. (NYSE:EHC) has announced significant shareholder-friendly moves. The company's board of directors approved a 13% increase in the quarterly dividend, declaring a cash dividend of $0.17 per share on its common stock. This dividend is payable on Oct. 15, 2024, to shareholders of record as of Oct. 1, 2024.

Additionally, Encompass Health has reset its common stock repurchase authorization to $500 million. This decision comes after the company repurchased approximately $17 million of its common stock during the second quarter of 2024. Prior to this reset, the company had about $181 million remaining under its previous authorization as of June 30, 2024.

Encompass Health (NYSE: EHC) has announced the partial redemption of its 5.75% senior notes due 2025. The company will redeem $150 million of the outstanding principal balance, with the redemption date set for August 15, 2024. The redemption price will be 100.0% of par, plus accrued and unpaid interest. Encompass Health plans to use cash on hand to fund this redemption. As a result of this financial move, the company anticipates recording an approximate $0.4 million loss on early extinguishment of debt in the third quarter of 2024.

Encompass Health (NYSE: EHC) has scheduled its Q2 2024 earnings call. The company will release its financial results for the quarter ending June 30, 2024, after market close on August 5, 2024. An investor conference call will follow on August 6, 2024, at 10 a.m. ET. Participants can join the call by dialing 800-579-2543 with conference ID EHCQ224, or 785-424-1699 for international callers. The call will also be webcast live and available for replay on the company's investor website.

Piedmont and Encompass Health (NYSE: EHC) announced an expansion of their joint venture to include Walton Rehabilitation Hospital in Augusta, Georgia. The 70-bed hospital, located at 1355 Independence Drive, was acquired by Encompass Health in 2013. The existing joint venture includes several other hospitals in Georgia and Alabama, with plans to build more in Athens and Loganville, Georgia. This partnership aims to provide coordinated, patient-centered care, leveraging the strengths of both organizations. Patients will receive intensive therapy, frequent physician visits, and 24-hour nursing care, particularly aiding those recovering from severe conditions such as strokes and brain injuries.