NHC: Acquisitions Drive Adjusted Earnings Growth in 3Q

National Healthcare Corp. (NYSE: NHC) on Nov. 6 announced third quarter 2026 net operating revenues of $407.9 million compared to $382.6 million for the same period of 2025, an increase of 6.6 percent.

Reported GAAP net income attributable to NHC for 3Q26 was $13.6 million compared to $39.2 million for the same period in 2025.

Excluding the unrealized gains or losses in its marketable equity securities portfolio and other non-GAAP adjustments, adjusted net income for the quarter ended Sept. 30 was $28.1 million compared to $24.7 million for the same period in 2025, a 13.8 percent increase.

SNF Purchases Drive Income

NHC said the increase in adjusted net income for the quarter was primarily driven by the June 1 acquisition of five SNFs and the July 1 acquisition of the real estate of 32 SNF and three independent living facilities from National Health Investors, Inc.

“The five skilled nursing facilities have 639 licensed beds in the states of Tennessee and South Carolina. The thirty-five real estate assets acquired from NHI have 4,825 licensed beds and are located in Alabama, Florida, Missouri, South Carolina, Tennessee, and Virginia,” NHC said.

GAAP diluted earnings per share were $0.85 and $2.50 for the quarters ending Sept. 30, 2026, and 2025, respectively. Adjusted diluted earnings per share were $1.76 and $1.58 for the quarters ending Sept. 30, 2026, and 2025, respectively.

Portfolio Tally

As of Nov. 1, NHC affiliates said it and or third parties operate 80 SNFs with 10,323 beds. NHC affiliates also operate 26 assisted living communities with 1,413 units, nine independent living communities with 775 units, three behavioral health hospitals, 34 homecare agencies, and 33 hospice agencies.

NHC’s other services include Alzheimer’s and memory care units, pharmacy services, a rehabilitation services company, and providing management and accounting services to third party post-acute operators.

For the complete earnings report and accompanying tables, go to NHC Reports Third Quarter 2026 Earnings.

Comments or questions? Contact Patrick Connole at pconnole@parkplacelive.com.