NHC Reports 2018 Year End Earnings

MURFREESBORO, Tenn. — National HealthCare Corporation (NYSE American: NHC), the nation’s oldest publicly traded senior health care company, announced today net operating revenues for the year ended December 31, 2018 totaled $980,349,000 compared to $963,895,000 for the year ended December 31, 2017, an increase of 1.7%. For the year ended December 31, 2018, reported GAAP net income attributable to NHC was $58,964,000 compared to $56,205,000 for the 2017 year, an increase of 4.9%. Excluding the unrealized gains in our marketable equity securities portfolio and other non- GAAP adjustments, adjusted net income for the year ended December 31, 2018 was $64,372,000 compared to $54,179,000 for the 2017 year, an increase of

18.8%(1). GAAP diluted earnings per share were $3.87 and $3.69 for the years ended December 31, 2018 and 2017, respectively, an increase of 4.9%. Adjusted diluted earnings per share were $4.22 and $3.56 for the years ended December 31, 2018 and 2017, respectively, an increase of 18.5%(1). Net operating revenues for the three months ended December 31, 2018 totaled $248,920,000 compared to $245,466,000 for the same three months in 2017, an increase of 1.4%. The fourth quarter of 2018 net income attributable to NHC was $18,152,000, or $1.19 per diluted share. In the fourth quarter of 2017, net income attributable to NHC was $21,470,000, or $1.41 per diluted share, which included a favorable $8.5 million adjustment due to the U.S. Tax Cuts and Jobs Act legislation that was passed in December 2017. View as PDF