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National Healthcare Corporation (NHC) has been a cornerstone in providing exceptional senior care for nearly 50 years. At NHC, we prioritize respect for the individual, promoting recovery, well-being, and independence. Our mission is to celebrate life every day across our numerous centers.
Operating an extensive network, NHC currently manages 75 skilled nursing centers, 25 assisted living communities, a behavioral health hospital, five retirement communities, and 35 homecare agencies. Our comprehensive services also include memory care, senior care pharmacies, hospital and rehabilitation services, along with management and accounting services to third parties.
Recognized nationwide as an innovator in delivering quality long-term care, NHC's goal is to offer a full range of extended care services, designed to maximize the well-being and independence of patients of all ages. We adopt an interdisciplinary approach, blending compassionate care with cost-effective healthcare services.
National Healthcare Corp's primary business activities encompass the provision of long-term care facilities, skilled nursing care, assisted living, independent living, and home care programs. Specifically, our offerings include sub-acute and post-acute skilled nursing care, intermediate nursing care, rehabilitative care, memory and Alzheimer's care, senior living services, and home health care services. Additionally, we provide management, accounting, and financial services, alongside insurance services to third-party healthcare facility operators.
Our operations are divided into two main reportable segments: Inpatient Services and Home Care Hospice Services, with the majority of our revenue generated from inpatient services. NHC remains committed to delivering high-quality care, ensuring a better quality of life for our patients and their families.
National HealthCare Corporation (NHC) has authorized a new stock repurchase program of up to $25 million. This program will commence on August 11, 2022 and end on August 10, 2023, replacing the previous plan from August 2019. The repurchases will be conducted based on market conditions and may include open market purchases and private agreements. Funding will come from available cash and potential capital sources. NHC plans to provide updates on repurchases with their operational reports.
National HealthCare Corporation (NHC) reported net operating revenues of $271.36 million for Q2 2022, a 3.1% increase from $263.16 million in Q2 2021. This growth was attributed to rising occupancy rates in skilled nursing facilities and the acquisition of Caris HealthCare. However, the company faced a $14.8 million decline in government stimulus income compared to last year. GAAP net income fell to $3.20 million from $104.88 million, while adjusted net income decreased to $7.17 million from $15.08 million. GAAP diluted EPS dropped to $0.21 from $6.80 in Q2 2021.
National HealthCare Corporation (NYSE: NHC) announced a quarterly dividend of 57 cents per share for shareholders on record as of September 30, 2022, with payment scheduled for November 1, 2022. This dividend reflects the company's commitment to returning value to its investors amid evolving market challenges.
Investors should note that the company has indicated potential risks and uncertainties affecting its future performance, which are detailed in its SEC filings.
National HealthCare Corporation (NHC) reported net operating revenues and grant income of $278.98 million for Q1 2022, up 11.2% from $250.97 million in Q1 2021. This growth was fueled by increased occupancy in skilled nursing facilities and the acquisition of Caris Healthcare. However, GAAP net income fell to $15.32 million from $21.27 million year-over-year, with adjusted net income at $14.08 million, down from $16.59 million. GAAP diluted EPS was $0.99, down from $1.38 in the previous year, largely due to reduced government stimulus and rising labor costs.
National HealthCare Corporation (NHC) announced a quarterly dividend of 57 cents per common share, reflecting a 3.6% increase from the previous quarter. Shareholders of record on June 30, 2022 will receive this payment on August 1, 2022. NHC operates 75 skilled nursing centers, 24 assisted living communities, and other healthcare services across the nation, emphasizing its established position as the oldest publicly traded long-term healthcare company.
The Knoxville Center for Behavioral Medicine will open in April, focusing on geriatric and adult care. This 64-bed facility is a partnership among National HealthCare Corporation (NHC), Tennova Healthcare, and The University of Tennessee Medical Center. The center aims to provide comprehensive care for psychiatric, emotional, and addiction disorders through individualized treatment plans. It will create over 100 jobs in Knox County, addressing the growing need for behavioral healthcare in East Tennessee.
National HealthCare Corporation (NHC) is launching two new behavioral health hospitals in 2022, one in Maryland Heights, Missouri, and another in Knoxville, Tennessee. The Maryland Heights facility will have 16 beds for geriatric patients requiring psychiatric care, while the Knoxville center will offer 64 beds and a full range of services for adults and geriatric patients with mental disorders. This expansion aims to address the growing mental health crisis in America and enhance community care options.
National HealthCare Corporation (NHC) reported net operating revenues of $1,074,302,000 for 2021, marking a 4.5% increase from $1,028,217,000 in 2020, fueled by the acquisition of Caris Healthcare. The company's GAAP net income rose significantly to $138,590,000 in 2021 from $41,871,000 in 2020. Adjusted net income also saw a growth of 7.0%, totaling $62,645,000. For Q4 2021, NHC reported a GAAP net income of $15,788,000, down from $27,550,000 in Q4 2020, although adjusted net income increased by 14.3% to $15,801,000.
National HealthCare Corporation (NHC) announced a quarterly dividend of 55 cents per share, payable on May 2, 2022, to shareholders on record by March 31, 2022. NHC, the oldest publicly traded long-term healthcare company in the U.S., operates 75 skilled nursing centers and numerous assisted living and hospice services. The press release also mentions potential risks and uncertainties regarding future performance due to economic conditions, healthcare regulations, and ongoing litigation. Investors are encouraged to review S.E.C. filings for details.
National HealthCare Corporation (NHC) reported net operating revenues of $276.7 million for the third quarter of 2021, marking a 10.4% increase from $250.6 million in Q3 2020. The revenue rise was attributed to the acquisition of Caris Healthcare. However, NHC experienced a GAAP net loss of $3.35 million, a decline from a net income of $12.85 million year-over-year. Adjusted net income rose 10.5% to $14.88 million, with adjusted diluted earnings per share at $0.96, compared to $0.88 previously.
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