Every 10-Q that Encompass Health Corp (EHC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow EHC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full EHC filings page.
Encompass Health Corporation reported higher Q2 2026 results, with net operating revenues of $1,597.4 million versus $1,457.7 million a year earlier, driven by 5.6% discharge growth and a 3.9% increase in net patient revenue per discharge. Net income attributable to Encompass Health was $153.9 million, and diluted EPS from continuing operations was $1.55.
For the first half of 2026, net operating revenues reached $3,184.0 million and operating cash flow was $595.7 million. The company operated 176 inpatient rehabilitation hospitals, with occupancy of 77.4% and declining labor intensity as salaries and benefits fell to 51.4% of revenues. Total assets were $7,457.5 million and long-term debt, including current portion, was $2,634.0 million after issuing $500 million of 5.875% 2034 notes and redeeming $400 million of 2028 notes.
Encompass Health Corporation reported strong first-quarter 2026 growth, with net operating revenues of $1,586.6 million, up 9.0% from $1,455.4 million a year earlier, driven by higher patient volumes and improved pricing.
Net income attributable to Encompass Health rose to $194.5 million from $151.5 million, and diluted EPS increased to $1.93 from $1.48. Adjusted EBITDA reached $348.8 million versus $313.6 million. Cash from operating activities was $313.1 million, supporting continued hospital expansion, dividends, and share repurchases while managing long-term debt maturities beginning in 2028.
Encompass Health (EHC) reported solid Q3 2025 results. Net operating revenues rose to $1,477.5 million from $1,351.0 million, and net income attributable to Encompass Health increased to $126.5 million from $108.2 million. Diluted EPS was $1.24 versus $1.06. Adjusted EBITDA reached $300.1 million, up from $269.3 million.
For the nine months, revenues were $4,390.6 million (vs. $3,968.2 million) with net income attributable to Encompass Health of $420.1 million (vs. $334.8 million). Year‑to‑date cash from operations was $829.6 million. The company redeemed the remaining $100 million of 5.75% Senior Notes due 2025 and ended the quarter with long‑term debt (net of current) of $2,393.9 million.
Operations expanded with new hospitals and bed additions across multiple states. Management expects the FY26 IRF rule to lift Medicare payment rates by approximately 2.9% effective October 1, 2025. The One Big Beautiful Bill Act is estimated to produce about $180 million of additional current deductions and approximately $50 million in 2025 cash tax savings. Shares outstanding were 100,615,977 as of October 21, 2025.
Encompass Health Corporation (EHC) Q2 2025 condensed summary
Net operating revenues for the three months ended June 30, 2025 were $1,457.7 million (up 12.0% vs. Q2 2024) and $2,913.1 million for the six months ended June 30, 2025 (up 11.3% vs. prior year six months). Net income was $184.9 million for Q2 2025 and net income attributable to Encompass Health was $142.1 million for Q2 2025 vs. $114.1 million in Q2 2024. Diluted EPS for the quarter was $1.39. Adjusted EBITDA was $318.6 million for Q2 2025 and $632.2 million for the six months. Operating cash flow for six months was $558.8 million. Cash, cash equivalents, and restricted cash at June 30, 2025 were $137.4 million.
The company operated 168 inpatient rehabilitation hospitals as of June 30, 2025, completed a May 2025 acquisition of a Fort Myers inpatient rehabilitation unit (51% interest) with $19.0 million goodwill recorded, and continued shareholder distributions via repurchases ($56.8 million YTD) and dividends ($35.1 million YTD). Management estimates certain provisions of the One Big Beautiful Bill Act will produce approximately $180 million of current deductions, yielding an estimated $50 million in cash tax savings in 2025. The filing discloses ongoing Medicare Review Choice Demonstration (RCD) non-affirmations in Alabama cycles and other regulatory risks.