National HealthCare Corporation (NHC) reported significant financial growth in its latest quarterly filing, with net operating revenues reaching $374.9 million for the three months ended June 30, 2025, a 24.7% increase from $300.7 million in the same period last year. The company attributed this growth to a 29.8% rise in net patient revenues, which totaled $363.3 million, driven by a 9.6% increase in same-facility revenues and the acquisition of White Oak Management, Inc. The net income attributable to NHC for the quarter was $23.7 million, down from $26.8 million in the prior year, reflecting unrealized losses on marketable equity securities.
For the first half of 2025, NHC's net operating revenues increased by 25.2% to $748.6 million, compared to $597.8 million in the same period of 2024. The net patient revenues for this period were $725.0 million, a 28.1% increase year-over-year. The company reported a net income of $55.9 million for the six months, up from $53.1 million in 2024. The increase in revenues was attributed to higher patient census levels and improved per diem rates across Medicare, Medicaid, and private pay sources.
Operationally, NHC managed 80 skilled nursing facilities with a total of 10,329 licensed beds, alongside 26 assisted living facilities and various homecare and hospice services. The average occupancy rate for skilled nursing facilities was 89.3%, slightly up from 88.7% in the previous year. The company also reported a reduction in agency staffing expenses, which fell significantly from $9.4 million in the first half of 2024 to $2.5 million in 2025, indicating improved workforce management amid ongoing labor shortages.
In terms of strategic developments, NHC completed the acquisition of White Oak Management in August 2024, which added 15 skilled nursing facilities and other care units to its portfolio. The company also reported a gain of $3.6 million from the contribution of land to a newly formed limited liability company. Looking ahead, NHC anticipates continued revenue growth driven by strategic partnerships and operational improvements, despite challenges posed by regulatory changes and market conditions. The company remains focused on enhancing patient care quality and maintaining its competitive position in the senior healthcare market.
About NATIONAL HEALTHCARE CORP
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