The earnings call presented a mixed sentiment with notable achievements in hospital rankings, expansion, and financial performance. However, there are significant challenges in the critical illness recovery segment due to regulatory issues and Medicare rate reductions.

Company Guidance -

Q3 2025

During the Select Medical Holdings Corporation's second quarter 2025 earnings call, the company provided detailed guidance and updates on its operations and financial performance. The company plans to add 382 rehabilitation beds, including 294 consolidating beds and 88 non-consolidating beds, along with 30 critical illness beds by mid-2027. They anticipate opening several facilities, including a 45-bed hospital in Temple, Texas, and a 30-bed critical illness recovery hospital in Memphis, Tennessee, in Q3. Financially, Select Medical reported a 5% increase in revenue to $1.3 billion and an adjusted EBITDA of $125.4 million. Earnings per share from continuing operations rose 88% to $0.32. The inpatient rehab hospital division saw a 17% revenue increase to $313.8 million, while the outpatient rehabilitation division experienced a 3.8% revenue growth. The critical illness recovery hospitals division's revenue declined by 1% to $601.1 million, primarily due to regulatory changes. The company repurchased 5.7 million shares at an average price of $14.86, totaling $85.1 million, and declared a $0.0625 per share dividend, payable on August 28, 2025. Select Medical reaffirmed its revenue outlook for 2025, expecting between $5.3 billion and $5.5 billion, and adjusted EBITDA between $510 million and $530 million.

Recognition of Rehabilitation Hospitals

Eight of Select Medical's hospitals were recognized among the nation's best by U.S. News & World Report, with the Kessler Institute for Rehabilitation ranking #4.

Expansion and Development in Rehabilitation Division

Opened a second hospital with UPMC in Pennsylvania, expanded facilities in Florida and Missouri, and announced plans to add 382 rehab beds by 2027.

Stock Repurchase Program

Repurchased over 5.7 million shares for $85.1 million, with a declared cash dividend of $0.0625 per share.

Revenue and Earnings Growth

Consolidated revenue grew nearly 5% to $1.3 billion, with earnings per share rising 88% to $0.32.

Inpatient Rehab Segment Performance

Revenue rose 17% to $313.8 million, with adjusted EBITDA increasing nearly 15% to $71 million.

Outpatient Rehabilitation Improvement

Adjusted EBITDA increased 6.1% year-over-year, with margin improving to 9.3%.

Select Medical (SEM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SEM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	0.14 / -	0.269	―	―	―
Jul 31, 2025	2025 (Q2)	0.24 / 0.32	0.323	-0.93% (>-0.01)	―
May 01, 2025	2025 (Q1)	0.45 / 0.44	0.415	6.02% (+0.03)	―
Feb 20, 2025	2024 (Q4)	0.17 / 0.18	0.194	-7.22% (-0.01)	―
Oct 31, 2024	2024 (Q3)	0.22 / 0.27	0.248	8.47% (+0.02)	―
Aug 01, 2024	2024 (Q2)	0.33 / 0.32	0.329	-1.82% (>-0.01)	―
May 02, 2024	2024 (Q1)	0.31 / 0.41	0.302	37.42% (+0.11)	―
Feb 22, 2024	2023 (Q4)	0.18 / 0.19	0.118	64.41% (+0.08)	―
Nov 02, 2023	2023 (Q3)	0.22 / 0.25	0.113	119.47% (+0.14)	―
Aug 03, 2023	2023 (Q2)	0.29 / 0.33	0.232	41.81% (+0.10)	―

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
Jul 31, 2025	$14.72	$12.51	-15.01%
May 01, 2025	$18.07	$14.13	-21.80%
Feb 20, 2025	$18.82	$17.46	-7.23%
Oct 31, 2024	$17.00	$19.06	+12.12%

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.