Encompass Health Corporation - EHC STOCK NEWS

Encompass Health Corp. (EHC) reported Q3 2020 results with net operating revenues of $1,173.9 million, up 1.1% from Q3 2019. Income per diluted share fell 20.4% to $0.78 due to increased depreciation, amortization, and interest expenses. Cash flows from operations rose 51.6%, reaching $173.4 million. Inpatient revenue grew by 3.8% but home health revenue declined 6.5%. The company anticipates Q4 revenues between $1,150 million and $1,220 million and adjusted earnings per share of $0.79 to $0.90.

Encompass Health Corp. (NYSE: EHC) has declared a quarterly cash dividend of $0.28 per share on its common stock. This dividend is set to be paid on January 15, 2021, to shareholders on record as of January 4, 2021. The company operates a comprehensive network of 136 inpatient rehabilitation hospitals, 245 home health locations, and 83 hospice locations across 39 states and Puerto Rico, focusing on high-quality, integrated healthcare services.

Encompass Health Corp. (NYSE: EHC) has been recognized for the ninth consecutive year in Modern Healthcare's Best Places to Work in Healthcare for 2020. The company's inpatient rehabilitation hospital segment ranked No. 42 and its home health and hospice segment No. 31 in the healthcare provider/insurer category. Encompass Health credits its dedicated employees for overcoming challenges during the COVID-19 pandemic, reinforcing its commitment to patient care and workplace culture.

Encompass Health Corporation (NYSE: EHC) announced the redemption of $700 million in 5.75% senior notes due 2024, set to settle on November 1, 2020, at par value. The redemption will be funded using proceeds from a recent $400 million public offering of senior unsecured notes due 2031 and available cash. This strategic move aims to optimize the company's capital structure and financial strategy amidst ongoing market challenges.

Encompass Health Corporation (NYSE: EHC) has priced a public offering of $400 million in 4.625% senior notes due 2031 at 100% of the principal amount. The offering is set to close on October 5, 2020, contingent on customary conditions. Proceeds will be used to redeem existing 5.75% Senior Notes due 2024. The notes will be guaranteed by current and future subsidiaries. Major underwriters include Truist Securities, Barclays, and others. This transaction follows an effective shelf registration statement with the SEC.

Encompass Health Corporation (NYSE: EHC) has announced a public offering of $400 million in senior notes maturing in 2031. The company plans to use the net proceeds, along with $300 million in cash, to fully redeem its 5.75% Senior Notes due in 2024 at par. The offering is led by a group of financial institutions including Truist Securities and Barclays, and is made under an effective registration statement filed with the SEC. Investors are encouraged to read the prospectus for detailed information.

Encompass Health Corp. (NYSE: EHC) will release its third-quarter results on October 28, 2020, after the market closes. An investor conference call is scheduled for October 29, 2020, at 9 a.m. ET, to discuss the results. Interested parties can participate by calling 877-587-6761 (international: 706-679-1635) using pass code 1451026. The call will also be available via live webcast on the company's investor website. Encompass Health operates a network of 136 hospitals and various health agencies across the U.S.

Encompass Health Corp. (NYSE: EHC) has partnered with MUSC Health to establish a joint venture for the Encompass Health Rehabilitation Hospital of Charleston in North Charleston, SC. The facility will be rebranded as MUSC Health Rehabilitation Hospital. Operating since 1993, the 49-bed hospital specializes in rehabilitation therapies for patients recovering from severe health conditions. This collaboration aims to enhance rehabilitative care and expand educational opportunities for healthcare professionals in South Carolina.

Encompass Health Corp. (NYSE: EHC) has placed land under contract to construct a 50-bed inpatient rehabilitation hospital in Jacksonville, Florida. This facility aims to support patients recovering from various debilitating conditions, including strokes and orthopedic issues, offering physical, occupational, and speech therapies. The hospital will feature private rooms, a therapy gym, and specialized medical staff. Encompass Health, a leader in integrated healthcare services, currently runs numerous facilities across Florida and expects the Jacksonville hospital to begin serving patients in the second half of 2022.