Select Medical Holdings Corp. (SEM)
NYSE:SEM
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Earnings Data
Report Date
Jul 30, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.3Last Year’s EPS
0.32Same Quarter Last Year
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mixed picture: revenue growth (total +5%) and strong inpatient rehabilitation performance (revenue +14%, adjusted EBITDA +15%) and an active development pipeline were clear positives, along with supportive proposed CMS payment updates and maintained full-year guidance. Offsetting these were a meaningful decline in consolidated adjusted EBITDA (-6.5%), lower EPS (0.35 vs 0.44), a 15% EBITDA decline in the critical illness segment driven by Medicare Advantage conversion/denials (~$13M–$14M impact), outpatient margin pressure, and elevated leverage that will increase with the contemplated $1.0B term loan upon the take-private. Overall, positives and negatives are balanced.Company Guidance
Take-Private Transaction Announced
Agreement to be acquired for $16.50 per share; unanimously approved by the Board; expected close mid-2026 (subject to approvals). Hart-Scott-Rodino waiting period expired Apr 27, 2026. Upon closing, company will become privately held and senior secured credit facilities will provide an additional $1.0B term loan at interest = SOFR + 3%.
Consolidated Revenue Growth
Total revenue increased 5% year-over-year across all three operating divisions.
Inpatient Rehabilitation Segment Outperformance
Inpatient rehab revenue rose >14% y/y to ~$351.9M and adjusted EBITDA increased 15% to $81.1M. Revenue per patient day increased ~3%, average daily census grew 12%, occupancy increased to 83% (from 82%), same-store occupancy to 87% (from 83%); adjusted EBITDA margin modestly improved to 23% from 22.9%.
Development Pipeline Expansion
Added 166 beds across 3 newly opened inpatient rehab hospitals year-to-date. Expect to add 275 more beds (209 IRF and 66 critical illness) across 2026–2027, including specific openings (60-bed AtlantiCare, 76-bed Jersey City, multiple acute rehab and neuro units) and further Banner expansion (+20 beds).
Outpatient Revenue and Volume Growth
Outpatient revenue grew >4% y/y to $321.3M driven by >4% growth in patient visits. Net revenue per visit remained flat at $102.
Regulatory Payment Proposals Favorable
CMS proposed FY2027 rules: IRF standard federal payment rate expected to increase ~2.6% and LTACH standard federal payment rate expected to increase ~2.66% (high-cost outlier threshold steady at $78,936), which would be modest tailwinds if finalized.
Maintained Full-Year Guidance and Capital Plan
Management maintained 2026 guidance: revenue $5.6B–$5.8B, adjusted EBITDA $520M–$540M, diluted EPS $1.22–$1.32, and capital expenditures $200M–$220M. Board approved a cash dividend of $0.0625 per share payable May 28, 2026.
Stable Interest Expense and Liquidity Availability
Interest expense modestly decreased to $28.3M from $29.1M y/y. Ended quarter with $443.5M availability on revolver and net leverage of 3.75x under credit agreements.
SEM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SEM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $16.41 | $16.44 | +0.18% |
Feb 19, 2026 | $16.01 | $14.95 | -6.65% |
Oct 30, 2025 | $14.07 | $13.71 | -2.60% |
Jul 31, 2025 | $14.59 | $12.40 | -15.01% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Select Medical Holdings Corp. (SEM) report earnings?
Select Medical Holdings Corp. (SEM) is schdueled to report earning on Jul 30, 2026, After Close (Confirmed).
What is Select Medical Holdings Corp. (SEM) earnings time?
Select Medical Holdings Corp. (SEM) earnings time is at Jul 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SEM EPS forecast?
SEM EPS forecast for the fiscal quarter 2026 (Q2) is 0.3.
