Select Healthcare Corporation just released its impressive Q4 results, exceeding expectations and approving a buyback program of up to $1.08 billion. The company saw a 1.4% increase in revenue for the fourth quarter ending on December 31, 2022, reaching $1,581.5 million compared to the previous year.
During the last quarter of 2022, Select Healthcare did not repurchase any shares under the program. However, since the program’s inception, the company has bought back 48,234,823 shares at a cost of around $600.3 million as of December 31, 2022.
Looking ahead to the full year of 2023, Select Healthcare anticipates revenue to fall between $6.5 billion and $6.7 billion. The company also declared a cash dividend and plans to discuss its business outlook for Adjusted EBITDA and earnings per common share in an upcoming conference call.
Overall, Select Healthcare Corporation’s strong Q4 results and the approval of a substantial share repurchase program have positively impacted its stock value.
SEM Stock Shows Strong Performance with 7.75% Rise on February 23, 2024
On February 23, 2024, SEM stock showed strong performance as it traded in the middle of its 52-week range and above its 200-day simple moving average. SEM shares experienced a significant price increase of $2.01, representing a 7.75% rise from the previous market close. The stock opened at $27.66, which was $1.71 higher than its previous close, indicating a positive start to the trading day. This strong opening price momentum set the tone for the rest of the day, as SEM shares continued to climb throughout the trading session. Investors may have been encouraged by SEM’s solid performance and positive price momentum on February 23. The stock’s ability to trade above its 200-day simple moving average suggests that it may have the potential for further upside in the future. Overall, SEM’s stock performance on February 23, 2024, was impressive, with strong price momentum and a notable increase in share price. Investors will likely continue to monitor SEM closely to see if this positive trend can be sustained.
SEM Stock Performance on February 23, 2024: Total Revenue Flat, Net Income Declines
On February 23, 2024, SEM stock experienced a mixed performance based on the financial data provided by CNN Money. The total revenue for the company stood at $6.33 billion for the past year, with a quarterly total revenue of $1.67 billion. It is noteworthy that the total revenue has remained flat compared to the previous year and the previous quarter.
However, the net income for SEM tells a different story. The company reported a net income of $153.38 million for the past year, with a quarterly net income of $46.46 million. This represents a significant decrease of 60.55% in net income compared to the previous year, and a decrease of 38.35% compared to the previous quarter.
Similarly, the earnings per share (EPS) for SEM also saw a decline. The EPS was reported at $1.23 for the past year and $0.38 for the previous quarter. This indicates a decrease of 58.77% in EPS compared to the previous year and a decrease of 38.73% compared to the previous quarter.
Overall, the financial performance of SEM on February 23, 2024, shows a mixed picture. While the total revenue remained flat, the net income and EPS experienced significant declines. Investors and stakeholders will likely closely monitor the company’s future performance to assess its growth prospects and financial stability.
