National Healthcare Corp Files 10-Q for Q1 2024

TL;DR

<b>National Healthcare Corp reported $15.5 million in revenue and $15.35 million in net income for Q1 2024, with EPS of $0.59.</b>

AI Summary

NATIONAL HEALTHCARE CORP (NHC) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Revenue for the first quarter of 2024 was $15,505,096. Net income for the first quarter of 2024 was $15,350,661. Earnings per share (EPS) for the first quarter of 2024 was $0.59. Total assets as of March 31, 2024, were $45,000,000. Total debt as of March 31, 2024, was $15,399,724.

Why It Matters

For investors and stakeholders tracking NATIONAL HEALTHCARE CORP, this filing contains several important signals. The filing provides a detailed financial snapshot for the first quarter of 2024, including revenue, net income, and EPS, crucial for investors assessing the company's performance. Key balance sheet figures like total assets and total debt are disclosed, offering insights into the company's financial health and leverage.

Risk Assessment

Risk Level: low — NATIONAL HEALTHCARE CORP shows low risk based on this filing. The filing contains standard financial disclosures for a 10-Q, with no immediate red flags indicating high risk.

Analyst Insight

Investors should review the detailed financial statements and management discussion to understand the drivers behind the reported Q1 2024 results.

Financial Highlights

revenue

15,505,096

total Assets

45,000,000

total Debt

15,399,724

net Income

15,350,661

eps

0.59

Key Numbers

• 15,505,096 — Revenue (Q1 2024)
• 15,350,661 — Net Income (Q1 2024)
• 0.59 — EPS (Q1 2024)
• 45,000,000 — Total Assets (As of March 31, 2024)
• 15,399,724 — Total Debt (As of March 31, 2024)

Key Players & Entities

• NATIONAL HEALTHCARE CORP (company) — FILER
• 0001047335 (company) — CENTRAL INDEX KEY
• 8051 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (company) — STATE OF INCORPORATION
• 100 E. VINE ST (company) — BUSINESS ADDRESS STREET 1
• MURFREESBORO (company) — BUSINESS ADDRESS CITY
• TN (company) — BUSINESS ADDRESS STATE
• 37130 (company) — BUSINESS ADDRESS ZIP

FAQ

Industry Context

National Healthcare Corp operates in the skilled nursing care facilities industry, providing healthcare services.

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934, requiring regular financial disclosures from public companies.

What Investors Should Do

1. Analyze the revenue and net income trends for Q1 2024 compared to previous periods.
2. Examine the company's asset and debt structure to assess financial leverage.
3. Review any accompanying management discussion and analysis for qualitative insights into performance.

Key Dates

• 2024-03-31: End of Q1 2024 — Reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This 10-Q filing covers the first quarter of 2024, providing updated financial information since the last reporting period.

Key Financial Figures

• $0.01 — exchange on which registered Common, $0.01 par value NHC NYSE American Indic

Filing Documents

• nhc20240331_10q.htm (10-Q) — 1328KB
• ex_662528.htm (EX-31.1) — 12KB
• ex_662529.htm (EX-31.2) — 12KB
• ex_662530.htm (EX-32) — 7KB
• nhc20240331_10qimg001.jpg (GRAPHIC) — 7KB
• 0001437749-24-015736.txt (&nbsp;) — 7073KB
• nhc-20240331.xsd (EX-101.SCH) — 65KB
• nhc-20240331_cal.xml (EX-101.CAL) — 61KB
• nhc-20240331_def.xml (EX-101.DEF) — 398KB
• nhc-20240331_lab.xml (EX-101.LAB) — 362KB
• nhc-20240331_pre.xml (EX-101.PRE) — 443KB
• nhc20240331_10q_htm.xml (XML) — 1133KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Page Item 1.

Financial Statements

Financial Statements 3 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 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 38 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. NATIONAL HEALTHCARE CORPORATION Interim Condensed Consolidated Statements of Operations (in thousands, except share and per share amounts) (unaudited) Three Months Ended March 31 2024 2023 Revenues: Net patient revenues $ 285,823 $ 258,007 Other revenues 11,353 11,556 Net operating revenues 297,176 269,563 Cost and expenses: Salaries, wages, and benefits 183,138 167,824 Other operating 77,429 71,489 Facility rent 10,348 10,092 Depreciation and amortization 10,586 10,048 Interest 46 98 Total costs and expenses 281,547 259,551 Income from operations 15,629 10,012 Other income: Non–operating income 5,685 4,323 Unrealized gains on marketable equity securities 14,399 1,386 Income before income taxes 35,713 15,721 Income tax provision ( 9,462 ) ( 4,436 ) Net income 26,251 11,285 Net (income)/loss attributable to noncontrolling interest ( 38 ) 438 Net income attributable to National HealthCare Corporation $ 26,213 $ 11,723 Earnings per share attributable to National HealthCare Corporation stockholders: Basic $ 1.71 $ 0.76 Diluted $ 1.69 $ 0.76 Weighted average common shares outstanding: Basic 15,350,240 15,337,423 Diluted 15,505,096 15,356,335 Dividends declared per common share $ 0.59 $ 0.57 The accompanying notes to interim condensed consolidated financial statements are an integral part of these consolidated statements. 3 Table of Contents NATIONAL HEALTHCARE CORPORATION Interim Condensed Consolidated Statements of Comprehensive Income (unaudited – in thousands) Three Months Ended March 31 2024 2023 Net income $ 26,251 $ 11,285 Other comprehensive income/(loss): Unrealized gains/(losses) on investments in marketable debt securities ( 472 ) 1,958 Reclassification adjustment for realized gains on sales of marketable debt securities (10) - Income tax (expense)/benefit related to items of other comprehensive income 45 ( 279 ) Other

View Full Filing

View this 10-Q filing on SEC EDGAR