Published on 7 May 2024 on Zacks via Yahoo Finance
Select Medical Holdings Corporation’s SEM shares gained 12.9% since it reported first-quarter 2024 results on May 2, 2024. Upward revision in adjusted EBITDA and earnings per share (EPS) outlook might have buoyed investor confidence in the stock. The first-quarter results benefited on the back of growth in patient days and admissions at the Critical Illness Recovery Hospital and Rehabilitation Hospital segments. However, the upside was partly offset by an elevated expense level.
SEM reported first-quarter 2024 adjusted EPS of 77 cents, which surpassed the Zacks Consensus Estimate by 40%. The bottom line soared 37.5% year over year.