Select Medical Holdings has reported attributable net income of $46.27m in the fourth quarter (Q4) of 2023, a 68.2% increase from $27.5m in the same period of 2022.
The Pennsylvania-based healthcare company’s earnings per common share stood at $0.36 in Q4 2023, versus $0.22 in Q4 2022.
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Its revenue for the October-December 2023 quarter was $1.66bn, a 4.9% growth from $1.58bn in the prior year.
Segment-wise, revenue totalled $567.13m for Critical Illness Recovery Hospital business in the reported quarter, up 0.9% from $561.88m in Q4 2022.
The Rehabilitation Hospital segment logged 9.4% revenue growth to $260.16m, compared with $237.85m in Q4 2022 while the Outpatient Rehabilitation segment’s revenue increased 6.1% to $298.23m from $281.09m.
The company’s Concentra business recorded a 6.2% revenue increase to $440.74m compared with $415m in Q4 2022.
Income from operations saw a boost of 31.5%, amounting to $114.25m for Q4 2023.
Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for Q4 2023 came in at $180.05m, representing an increase of 20.9% from $148.91m in Q4 2022.
For the full year, net income was $299.73m, a 51.4% surge from $198.02m for the prior year, while revenue rose 5.2% to $6.66bn from $6.33bn.
Income from operations for 2023 rose 37.6% to $554.87m from $403.28m in the previous year, and adjusted EBITDA increased 24.8% year-on-year to $807.42m.
