Select Medical Reports 6.4% Q4 Revenue Growth, Net Income Swings to $37.7M
Select Medical's Q4 revenue rose 6.4% to $1.397B while net income from continuing operations swung to $37.7M, up 461%, with EPS at $0.16. For 2025, revenue increased 5.1% to $5.45B, net income hit $214.5M, and the board is evaluating a $16–$16.20 take-private offer plus a cash dividend.
1. Q4 2025 Financial Results
Select Medical posted Q4 revenue of $1,396.6 million, up 6.4% year-over-year; income from continuing operations before other items rose 203% to $63.9 million, while net income jumped to $37.7 million from a $10.5 million loss. EPS from continuing operations reached $0.16, and adjusted EBITDA was $104.7 million, down from $116.0 million a year earlier.
2. Full-Year 2025 Performance
For the year ended December 31, 2025, revenue increased 5.1% to $5,452.8 million and pre-tax income climbed 25.3% to $336.2 million; net income rose 65% to $214.5 million, with EPS at $1.16. Adjusted EBITDA decreased to $493.2 million from $510.4 million, while adjusted EPS grew 23.4% to $1.16.
3. Take-Private Proposal and Dividend Declaration
On November 24, 2025, Executive Chairman Robert Ortenzio made a non-binding offer of $16.00 to $16.20 per share to take the company private; an independent special committee is evaluating this proposal and other strategic alternatives. The company also declared a cash dividend and provided its 2026 business outlook.