NHC Q3 revenue rises 12.5% to $382.7 million; GAAP net income falls to $39.2 million
National HealthCare Corporation reported third quarter 2025 results, with net operating revenues up 12.5% year over year to $382.7 million, driven by an 8.7% increase in same-facility revenues and the August 2024 acquisition of White Oak Management. GAAP net income attributable to NHC fell to $39.2 million from $42.8 million, while adjusted (non-GAAP) net income rose 24.3% to $24.7 million, so shareholders see higher revenue and adjusted earnings alongside lower reported GAAP profit.
Key points
- Net operating revenues were $382.7 million for the quarter ended September 30, 2025, versus $340.2 million a year earlier.
- GAAP diluted EPS was $2.50, down from $2.73; adjusted diluted EPS was $1.58, up from $1.27.
- GAAP net income attributable to NHC was $39.2 million, versus $42.8 million; the adjusted figure excludes unrealized gains on marketable equity securities.
- Dividends declared were $0.64 per common share, up from $0.61.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:38 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 07, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.