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National HealthCare Corporation reports recurring developments in senior health care operations, including skilled nursing facilities, assisted living communities, independent living communities, behavioral health hospitals, homecare agencies and hospice agencies. NHC also provides Alzheimer’s and memory care, pharmacy services, rehabilitation services, and management and accounting services for third-party post-acute operators.
Company news commonly covers operating revenue, GAAP and adjusted earnings, same-facility performance, dividend declarations, facility mix and the integration of acquired White Oak operations. Updates also address capital-structure and governance matters tied to NHC’s common stock on the NYSE American.
National HealthCare Corporation (NHC) reported net operating revenues of $250.97 million for Q1 2021, a 2% decline from Q1 2020. The company received CARES Act funding to mitigate COVID-19 impacts. Skilled nursing facility census rose by 3.5% in Q1 2021. GAAP net income was $21.27 million, a recovery from a loss of $26.85 million in Q1 2020. GAAP diluted EPS reached $1.38, up from a loss of $1.76 per share the previous year. Adjusted EPS decreased slightly to $1.08 compared to $1.11 in 2020.
National HealthCare Corporation (NHC) has declared a quarterly dividend of 52 cents per common share, set for shareholders of record on June 30, 2021, and payable on August 2, 2021. NHC, the oldest publicly traded long-term healthcare provider in the U.S., operates 75 skilled nursing facilities with 9,463 beds, along with 24 assisted living and various other health services. Forward-looking statements in this release highlight risks, including economic conditions, healthcare regulations, and litigation liabilities.
National HealthCare Corporation (NHC) has commenced construction on the Maryland Heights Center for Cognitive Disorders, a 16-bed facility aimed at providing psychiatric care for geriatric patients. Located adjacent to NHC HealthCare Maryland Heights, the 12,804-square-foot center is expected to open in Q2 2022 and will create 31 jobs in St. Louis County. This center aims to enhance the continuum of care for seniors experiencing cognitive illnesses, addressing a critical need in the community.
National HealthCare Corporation (NHC) reported a 3.2% increase in net operating revenues for 2020 totaling $1,028,217,000, compared to $996,383,000 in 2019. However, excluding CARES Act funding, revenues would have declined by 4.2%. The GAAP net income was $41,871,000, down from $68,211,000 in 2019, leading to diluted EPS of $2.72. For Q4 2020, revenues increased by 2.3% to $259,825,000, but excluding CARES Act funds, a decrease of 8.1% would have been recorded. Q4 2020 reported GAAP net income rose to $27,550,000 from $13,770,000 in Q4 2019.
National HealthCare Corporation (NHC) announced a quarterly dividend of 52 cents per common share, payable on May 3, 2021, to shareholders of record as of March 31, 2021. As the oldest publicly traded long-term healthcare company in the U.S., NHC operates 76 skilled nursing centers with 9,463 beds, along with various other healthcare facilities and services. The company cautioned investors about forward-looking statements, highlighting potential risks including regulatory changes, economic conditions, and patient care liabilities.
The Tennessee Health Service and Development Agency has approved a Certificate of Need for a 16-bed geriatric psychiatric hospital, Natchez Center for Behavioral Medicine, LLC, in Dickson. This facility is a collaboration between National HealthCare Corporation (NHC) and Reliant Healthcare Corporation. The $5.7 million project will begin construction in 2022, creating over 25 jobs in the area. The hospital will complement a senior care complex, adding critical multidisciplinary services for seniors in Dickson and surrounding counties.