Select Medical Holdings Corp. Files Quarterly Report (10-Q)

TL;DR

<b>Select Medical Holdings Corp. filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

SELECT MEDICAL HOLDINGS CORP (SEM) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Filing is a 10-Q for the period ending March 31, 2024. Company name is Select Medical Holdings Corp. Filing date is May 2, 2024. Fiscal year end is December 31. Business address is 4714 Gettysburg Rd, Mechanicsburg, PA 17055.

Why It Matters

For investors and stakeholders tracking SELECT MEDICAL HOLDINGS CORP, this filing contains several important signals. This filing provides an update on the company's financial performance and position for the first quarter of 2024. Investors and analysts can use this report to assess the company's operational health and future prospects.

Risk Assessment

Risk Level: low — SELECT MEDICAL HOLDINGS CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediately apparent unusual or high-risk information.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand Select Medical Holdings Corp.'s Q1 2024 performance.

Key Numbers

• 2024-03-31 — Period of Report (Conformed period of report)
• 2024-05-02 — Filing Date (Filed as of date)
• 12/31 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• SELECT MEDICAL HOLDINGS CORP (company) — Filer name
• 0001320414 (company) — Central Index Key
• 4714 GETTYSBURG RD (company) — Business address street
• MECHANICSBURG (company) — Business address city
• PA (company) — Business address state
• 17055 (company) — Business address zip
• 717-972-1100 (company) — Business phone
• 2024-03-31 (date) — Conformed period of report

FAQ

Industry Context

Select Medical Holdings Corp. operates within the healthcare services industry, specifically focusing on hospitals and related services.

Regulatory Implications

The filing is a standard 10-Q, subject to SEC regulations for public companies.

What Investors Should Do

1. Analyze the company's revenue and profitability for Q1 2024.
2. Examine any disclosed risks or uncertainties in the report.
3. Compare Q1 2024 performance to previous periods.

Key Dates

• 2024-03-31: End of Reporting Period — Covers financial results for the first quarter of 2024.
• 2024-05-02: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted; comparison to a previous filing requires additional data.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share SEM New York Stock Exchange

Filing Documents

• sem-20240331.htm (10-Q) — 1282KB
• sem-331202410qxex311.htm (EX-31.1) — 12KB
• sem-331202410qxex312.htm (EX-31.2) — 12KB
• sem-331202410qxex321.htm (EX-32.1) — 7KB
• 0001628280-24-020033.txt (&nbsp;) — 6492KB
• sem-20240331.xsd (EX-101.SCH) — 38KB
• sem-20240331_cal.xml (EX-101.CAL) — 88KB
• sem-20240331_def.xml (EX-101.DEF) — 153KB
• sem-20240331_lab.xml (EX-101.LAB) — 505KB
• sem-20240331_pre.xml (EX-101.PRE) — 365KB
• sem-20240331_htm.xml (XML) — 995KB

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 18 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 33 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 33 PART II OTHER INFORMATION 34 ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 34 ITEM 1A.

RISK FACTORS

RISK FACTORS 34 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 34 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 34 ITEM 4. MINE SAFETY DISCLOSURES 34 ITEM 5. OTHER INFORMATION 34 ITEM 6. EXHIBITS 35

SIGNATURES

SIGNATURES 2 Table of Contents

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Select Medical Holdings Corporation Condensed Consolidated Balance Sheets (unaudited) (in thousands, except share and per share amounts) December 31, 2023 March 31, 2024 ASSETS Current Assets: Cash and cash equivalents $ 84,006 $ 92,620 Accounts receivable 940,335 1,134,788 Prepaid income taxes 22,726 9,034 Current portion of interest rate cap contract 58,962 42,660 Other current assets 151,617 161,238 Total Current Assets 1,257,646 1,440,340 Operating lease right-of-use assets 1,188,616 1,176,713 Property and equipment, net 1,023,561 1,024,626 Goodwill 3,513,170 3,517,071 Identifiable intangible assets, net 329,916 324,125 Other assets 376,722 375,388 Total Assets $ 7,689,631 $ 7,858,263 LIABILITIES AND EQUITY Current Liabilities: Overdrafts $ 30,274 $ 28,534 Current operating lease liabilities 245,400 245,617 Current portion of long-term debt and notes payable 70,329 60,184 Accounts payable 174,312 163,551 Accrued and other liabilities 728,150 686,491 Total Current Liabilities 1,248,465 1,184,377 Non-current operating lease liabilities 1,025,867 1,015,160 Long-term debt, net of current portion 3,587,675 3,758,631 Non-current deferred tax liability 143,306 133,987 Other non-current liabilities 110,303 100,175 Total Liabilities 6,115,616 6,192,330 Commitments and contingencies (Note 14) Redeemable non-controlling interests 26,297 28,290 Stockholders' Equity: Common stock, $ 0.001 par value, 700,000,000 shares authorized, 128,369,492 and 128,357,832 shares issued and outstanding at 2023 and 2024, respectively 128 128 Capital in excess of par 493,413 505,403 Retained earnings 751,856 830,821 Accumulated other comprehensive income 42,907 30,930 Total Stockholders' Equity 1,288,304 1,367,282 Non-controlling interests 259,414 270,361 Total Equity 1,547,718 1,637,643 Total Liabilities and Equity $ 7,689,631 $ 7,858,263 The accompanying notes are an integral part of these c

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View this 10-Q filing on SEC EDGAR