NHC Reports 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, 2017 totaled

$966,996,000 compared to $926,638,000 for the year ended December 31, 2016, an increase of 4.4%. For the year ended December 31, 2017, net income attributable to NHC was $56,205,000 compared to $50,538,000 for the 2016 year, an increase of 11.2% and reflects the 2017 fourth quarter tax benefit adjustment of $8.5 million from the Tax Cuts and Jobs Act of 2017 (the “Tax Act”). Excluding the 2017 Tax Act adjustment and the operating losses from the two newly constructed skilled nursing facilities and three assisted living facilities placed in service in 2017 and 2016, net income attributable to NHC would have been $51,526,000 for the year ended December 31, 2017. Diluted earnings per share were $3.69 and $3.32 for the years ended December 31, 2017 and 2016, respectively, which is an increase of 11.1% and also reflects the positive 2017 Tax Act adjustment. Net operating revenues for the three months ended December 31, 2017 totaled $246,311,000 compared to $238,001,000 for the same three months in 2016, an increase of 3.5%. The fourth quarter of 2017 net income attributable to NHC was $21,470,000, or $1.41 per diluted share, which includes the $8.5 million Tax Act adjustment. In the fourth quarter of 2016, net income attributable to NHC was $13,863,000, or $0.91 per diluted share. View as PDF