EX-99.1 2 ex_1038225.htm EXHIBIT 99.1 ex_1038225.htm

Exhibit 99.1

 

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For release: November 6, 2026

Contact: Brian F. Kidd, SVP/CFO

Phone: (615) 890-2020

 

NHC Reports Third Quarter 2026 Earnings

 

MURFREESBORO, Tenn. -- National HealthCare Corporation (NYSE American: NHC), the nation's oldest publicly traded senior health care company, announced today net operating revenues for the quarter ended September 30, 2026 totaled $407,971,000 compared to $382,661,000 for the quarter ended September 30, 2025, an increase of 6.6%. For the quarter ended September 30, 2026, the reported GAAP net income attributable to NHC was $13,637,000 compared to $39,239,000 for the same period in 2025. Excluding the unrealized gains or losses in our marketable equity securities portfolio and other non-GAAP adjustments, adjusted net income for the quarter ended September 30, 2026 was $28,154,000 compared to $24,744,000 for the same period in 2025, a 13.8% increase (*).

 

The increase in adjusted net income for the quarter ended September 30, 2026 was primarily driven by the June 1, 2026 acquisition of five skilled nursing facilities and the July 1, 2026 acquisition of the real estate of thirty-two skilled nursing facilities and three independent living facilities from National Health Investors, Inc. (“NHI”). The five skilled nursing facilities have 639 licensed beds in the states of Tennessee and South Carolina. The thirty-five real estate assets acquired from NHI have 4,825 licensed beds and are located in Alabama, Florida, Missouri, South Carolina, Tennessee, and Virginia.

 

The GAAP diluted earnings per share were $0.85 and $2.50 for the quarters ending September 30, 2026 and 2025, respectively. Adjusted diluted earnings per share were $1.76 and $1.58 for the quarters ending September 30, 2026 and 2025, respectively (*).

 

(*) -          See the tables below that provide a reconciliation of GAAP to non-GAAP items.

 

About NHC

As of November 1, 2026, NHC affiliates operate for themselves and third parties 80 skilled nursing facilities with 10,323 beds. NHC affiliates also operate 26 assisted living communities with 1,413 units, nine independent living communities with 775 units, three behavioral health hospitals, 34 homecare agencies, and 33 hospice agencies. NHC’s other services include Alzheimer’s and memory care units, pharmacy services, a rehabilitation services company, and providing management and accounting services to third party post-acute operators. Other information about the company can be found on our web site at www.nhccare.com.

 

Non-GAAP Financial Presentation

The Company is providing certain non-GAAP financial measures as the Company believes that these figures are helpful in allowing investors to more accurately assess the ongoing nature of the Company’s operations and measure the Company’s performance more consistently across periods. Therefore, the Company believes this information is meaningful in addition to the information contained in the GAAP presentation of financial information. The presentation of this additional non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP.

 

Forward-Looking Statements

Statements in this press release that are not historical facts are forward-looking statements. NHC cautions investors that any forward-looking statements made involve risks and uncertainties and are not guarantees of future performance. The risks and uncertainties are detailed from time to time in reports filed by NHC with the S.E.C., including Forms 8-K, 10-Q, and 10-K. All forward-looking statements represent NHC’s best judgment as of the date of this release.

 

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Consolidated Statements of Operations

                               

(in thousands, except share and per share amounts)

                               
   

Three Months Ended

   

Nine Months Ended

 
   

September 30

   

September 30

 
   

2026

   

2025

   

2026

   

2025

 
   

(unaudited)

   

(unaudited)

 

Revenues:

                               

Net patient revenues

  $ 397,446     $ 370,989     $ 1,145,610     $ 1,095,945  

Other revenues

    10,525       11,672       52,207       35,323  

Net operating revenues

    407,971       382,661       1,197,817       1,131,268  
                                 

Costs and expenses:

                               

Salaries, wages and benefits

    251,937       233,176       728,913       687,840  

Other operating

    99,461       96,604       285,173       281,004  

Facility rent

    1,365       11,345       24,548       34,038  

Depreciation and amortization

    14,576       11,158       37,363       33,151  

Total costs and expenses

    367,339       352,283       1,075,997       1,036,033  
                                 

Income from operations

    40,632       30,378       121,820       95,235  
                                 

Non-operating income

    3,637       4,660       11,566       13,871  

Interest expense

    (6,991 )     (1,456 )     (7,273 )     (5,555 )

Unrealized gains/(losses) on marketable equity securities

    (17,599 )     20,827       (7,610 )     26,748  
                                 

Income before income taxes

    19,679       54,409       118,503       130,299  

Income tax provision

    (5,498 )     (13,400 )     (27,682 )     (32,887 )

Net income

    14,181       41,009       90,821       97,412  
                                 

Net income attributable to noncontrolling interest

    (544 )     (1,770 )     (1,008 )     (2,246 )
                                 

Net income attributable to National HealthCare Corporation

  $ 13,637     $ 39,239     $ 89,813     $ 95,166  
                                 

Net income per common share

                               

Basic

  $ 0.87     $ 2.53     $ 5.76     $ 6.15  

Diluted

  $ 0.85     $ 2.50     $ 5.66     $ 6.10  
                                 

Weighted average common shares outstanding

                               

Basic

    15,638,814       15,484,464       15,599,724       15,461,804  

Diluted

    15,964,895       15,664,530       15,866,957       15,613,505  
                                 

Dividends declared per common share

  $ 0.67     $ 0.64     $ 1.98     $ 1.89  

 

 

Balance Sheet Data

 

September 30

   

December 31

 

(in thousands)

 

2026

   

2025

 
   

(unaudited)

         
                 

Cash, cash equivalents and marketable securities

  $ 221,325     $ 255,801  

Restricted cash, cash equivalents and marketable securities

    152,874       159,848  

Current assets

    419,830       461,820  

Property and equipment, net

    1,290,019       673,797  

Total assets

    2,068,196       1,526,419  

Current liabilities

    283,925       246,132  

Current and long-term debt

    502,063       40,000  

NHC stockholders' equity

    1,124,920       1,068,772  

 

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Selected Operating Statistics

   

Three Months Ended

   

Nine Months Ended

 
   

September 30

   

September 30

 
   

2026

   

2025

   

2026

   

2025

 
   

(unaudited)

   

(unaudited)

 

Skilled Nursing Per Diems:

                               

Medicare

  $ 623.72     $ 613.12     $ 627.39     $ 613.35  

Managed Care

    513.06       427.11       506.75       468.90  

Medicaid

    291.06       284.60       291.11       284.25  

Private Pay and Other

    352.96       334.71       351.63       337.64  
                                 

Average Skilled Nursing Per Diem

  $ 368.20     $ 350.85     $ 368.88     $ 357.42  
                                 

Skilled Nursing Patient Days:

                               

Medicare

    85,677       82,501       247,854       252,370  

Managed Care

    87,548       81,338       258,706       247,999  

Medicaid

    405,214       369,895       1,145,517       1,102,224  

Private Pay and Other

    217,683       206,639       618,224       585,435  
                                 

Total Skilled Nursing Patient Days

    796,122       740,373       2,270,301       2,188,028  

 

 

The tables below provide reconciliations of GAAP to non-GAAP items (in thousands, except per share amounts):

 

   

Three Months Ended

   

Nine Months Ended

 
   

September 30

   

September 30

 
   

2026

   

2025

   

2026

   

2025

 
   

(unaudited)

   

(unaudited)

 
                                 

Net income attributable to National Healthcare Corporation

  $ 13,637     $ 39,239     $ 89,813     $ 95,166  

Non-GAAP adjustments

                               

Unrealized (gains)/losses on marketable equity securities

    17,599       (20,827 )     7,610       (26,748 )

Stock-based compensation expense

    2,019       1,239       5,285       3,499  

National management fee revenue from prior periods

    -       -       (18,325 )     -  

Gain on sale of property and equipment

    -       -       -       (3,606 )

Income tax provision on non-GAAP adjustments

    (5,101 )     5,093       1,412       6,982  

Non-GAAP Net income

  $ 28,154     $ 24,744     $ 85,795     $ 75,293  
                                 
                                 

GAAP diluted earnings per share

  $ 0.85     $ 2.50     $ 5.66     $ 6.10  

Non-GAAP adjustments

                               

Unrealized (gains)/losses on marketable equity securities

    1.10       (1.33 )     0.48       (1.71 )

Stock-based compensation expense

    0.13       0.08       0.33       0.22  

National management fee revenue from prior periods

    -       -       (1.15 )     -  

Gain on sale of property and equipment

    -       -       -       (0.23 )

Income tax provision on non-GAAP adjustments

    (0.32 )     0.33       0.09       0.45  

Non-GAAP diluted earnings per share

  $ 1.76     $ 1.58     $ 5.41     $ 4.83  

 

 

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