Encompass Health Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Encompass Health Corp filed its Q1 2024 10-Q, detailing financial performance and corporate information.</b>

AI Summary

Encompass Health Corp (EHC) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Encompass Health Corp filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business address is 9001 Liberty Parkway, Birmingham, AL 35242. Encompass Health Corp was formerly known as HealthSouth Corp and HealthSouth Rehabilitation Corp. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023.

Why It Matters

For investors and stakeholders tracking Encompass Health Corp, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial statements and disclosures, crucial for understanding the company's current performance and financial health. The detailed financial data allows for comparison with previous periods and industry benchmarks, aiding in investment decisions.

Risk Assessment

Risk Level: low — Encompass Health Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain unusual or high-risk information, indicating a routine disclosure process.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to assess Encompass Health Corp's performance in Q1 2024.

Key Numbers

• 2024-03-31 — Report Period End Date (The end date for the reporting period of the 10-Q filing.)
• 2024-05-02 — Filing Date (The date the 10-Q report was filed with the SEC.)
• 2024-01-01 — Quarter Start Date (The start date for the first quarter of fiscal year 2024.)
• 2023-03-31 — Prior Year Quarter End Date (The end date for the comparable quarter in the previous fiscal year.)

Key Players & Entities

• Encompass Health Corp (company) — Filer of the 10-Q report.
• HealthSouth Corp (company) — Former name of Encompass Health Corp.
• HealthSouth Rehabilitation Corp (company) — Former name of Encompass Health Corp.
• 9001 Liberty Parkway, Birmingham, AL 35242 (location) — Business and mailing address of Encompass Health Corp.

FAQ

Industry Context

Encompass Health Corp operates in the healthcare sector, specifically focusing on inpatient rehabilitation and home health services.

Regulatory Implications

The filing is a standard 10-Q, subject to SEC regulations for public companies, ensuring transparency and compliance with financial reporting standards.

What Investors Should Do

1. Analyze the revenue and net income figures for Q1 2024 compared to Q1 2023.
2. Examine any disclosed changes in operational segments or business strategies.
3. Review the balance sheet for changes in assets, liabilities, and equity.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q.
• 2024-05-02: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report of fiscal year 2024, providing updated financial data compared to the previous year's filings.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share EHC New York Stock Exchange

Filing Documents

• ehc-20240331.htm (10-Q) — 976KB
• ehc10q33124ex22.htm (EX-22) — 50KB
• ehc10q33124ex311.htm (EX-31.1) — 14KB
• ehc10q33124ex312.htm (EX-31.2) — 14KB
• ehc10q33124ex321.htm (EX-32.1) — 10KB
• ehc10q33124ex322.htm (EX-32.2) — 10KB
• 0000785161-24-000028.txt (&nbsp;) — 4864KB
• ehc-20240331.xsd (EX-101.SCH) — 29KB
• ehc-20240331_cal.xml (EX-101.CAL) — 71KB
• ehc-20240331_def.xml (EX-101.DEF) — 121KB
• ehc-20240331_lab.xml (EX-101.LAB) — 428KB
• ehc-20240331_pre.xml (EX-101.PRE) — 309KB
• ehc-20240331_htm.xml (XML) — 558KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 4.

Controls and Procedures

Controls and Procedures 26 PART II Other Information Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 5. Other Information 28 Item 6. Exhibits 28 Exhibit Index NOTE TO READERS As used in this report, the terms "Encompass Health," "we," "us," "our," and the "Company" refer to Encompass Health Corporation and its consolidated subsidiaries, unless otherwise stated or indicated by context. This drafting style is suggested by the Securities and Exchange Commission and is not meant to imply that Encompass Health Corporation, the publicly traded parent company, owns or operates any specific asset, business, or property. The hospitals, operations, and businesses described in this filing are primarily owned and operated by subsidiaries of the parent company. In addition, we use the term "Encompass Health Corporation" to refer to Encompass Health Corporation alone wherever a distinction between Encompass Health Corporation and its subsidiaries is required or aids in the understanding of this filing. i CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This quarterly report contains historical information, as well as forward-looking statements that involve known and unknown risks and relate to, among other things, future events, changes to Medicare reimbursement and other healthcare laws and regulations from time to time, our business strategy, labor cost trends, our dividend and stock repurchase strategies, our financial plans, our growth plans, our future financial performance, our projected business results, or our projected capital expenditures. In some cases, the reader can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "targets," "potential," or "continue" or the negative of these terms or other comparable terminology. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Encompass Health Corporation and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended March 31, 2024 2023 (In Millions, Except Per Share Data) Net operating revenues $ 1,316.0 $ 1,160.4 Operating expenses: Salaries and benefits 711.6 629.0 Other operating expenses 203.9 177.9 Occupancy costs 14.0 13.8 Supplies 58.5 53.8 General and administrative expenses 50.2 43.4 Depreciation and amortization 70.3 63.9 Total operating expenses 1,108.5 981.8 Interest expense and amortization of debt discounts and fees 35.2 36.4 Other income ( 5.4 ) ( 3.6 ) Equity in net income of nonconsolidated affiliates ( 0.7 ) ( 0.4 ) Income from continuing operations before income tax expense 178.4 146.2 Provision for income tax expense 38.3 31.9 Income from continuing operations 140.1 114.3 Loss from discontinued operations, net of tax ( 1.3 ) ( 1.0 ) Net and comprehensive income 138.8 113.3 Less: Net and comprehensive income attributable to noncontrolling interests ( 26.3 ) ( 25.6 ) Net and comprehensive income attributable to Encompass Health $ 112.5 $ 87.7 Weighted average common shares outstanding: Basic 99.8 99.4 Diluted 102.2 100.9 Earnings per common share: Basic earnings per share attributable to Encompass Health common shareholders: Continuing operations $ 1.13 $ 0.89 Discontinued operations ( 0.01 ) ( 0.01 ) Net income $ 1.12 $ 0.88 Diluted earnings per share attributable to Encompass Health common shareholders: Continuing operations $ 1.11 $ 0.88 Discontinued operations ( 0.01 ) ( 0.01 ) Net income $ 1.10 $ 0.87 Amounts attributable to Encompass Health common shareholders: Income from continuing operations $ 113.8 $ 88.7 Loss from discontinued operations, net of tax ( 1.3 ) ( 1.0 ) Net income attributable to Encompass Health $ 112.5 $ 87.7 The accompanying notes to condensed consolidated financial statements are an integral part of the

View Full Filing

View this 10-Q filing on SEC EDGAR