Last night after the close, Select Medical Corp. SEM reported a 4Q GAAP EPS of $0.13, “$0.01 below our estimate and in line with consensus,” J.P. Morgan reports.
“Total reported EBITDA was $66.1mm (23.4%) below our view as cost of services were 290bps higher and general and administrative expenses were 80bps higher while bad debt was 40bps better than our outlook,” J.P. Morgan writes.
“Revenue was $7.7mm (about 1%) better than our outlook. Also impacting the quarter was a favorable tax rate that benefited earnings by about $0.05/share.”
Select Medical Corp. closed Thursday at $7.66.
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