false 0001047335 0001047335 2026-05-08 2026-05-08
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): May 8, 2026 (May 8, 2026)
 
 
NATIONAL HEALTHCARE CORPORATION
(Exact name of registrant as specified in its charter)
 
 
Delaware
(State or other jurisdiction of
incorporation)
001-13489
(Commission File Number)
52-2057472
(I.R.S. Employer Identification
No.)
100 E. Vine Street
Murfreesboro, Tennessee
(Address of Principal Executive
Offices)
  
 
37130
(Zip Code)
 
Registrant’s telephone number, including area code: (615) 890-2020
 
Not Applicable
(Former name or former address, if changed since last report)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2 (b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Exchange Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $.01 par value
NHC
NYSE American
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1988 or Rule 12b-2 of the Securities Exchange Act of 1934. Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial standards pursuant to Section 13(a) of the Exchange Act. ☐
 
 
 
 
ITEM 2.02.         RESULTS OF OPERATIONS AND FINANCIAL CONDITION
 
National HealthCare Corporation (“NHC”) issued a press release on May 8, 2026, announcing its March 31, 2026 earnings. The entire press release is attached as Exhibit 99.1 and is incorporated by reference herein.
 
 
 
ITEM 9.01.         FINANCIAL STATEMENTS AND EXHIBITS.
 
(d)         Exhibits.
 
Exhibit No.
Description of Exhibit
99.1
   
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Date:         May 8, 2026
 
 
NATIONAL HEALTHCARE CORPORATION
  
       
       
 
By:
/s/ 
Brian F. Kidd
  
 
Name:
Title:
Brian F. Kidd
Senior VP/Chief Financial Officer
  
 
 

Exhibit 99.1

 

nhc01.jpg

 

For release: May 8, 2026

Contact: Brian F. Kidd, SVP/CFO

Phone: (615) 890-2020

 

NHC Reports First Quarter 2026 Earnings

 

MURFREESBORO, Tenn. -- National HealthCare Corporation (NYSE American: NHC), the nation's oldest publicly traded senior health care company, announced today net operating revenues for the quarter ended March 31, 2026 totaled $381,821,000 compared to $373,697,000 for the quarter ended March 31, 2025, an increase of 2.2%.

 

For the quarter ended March 31, 2026, the reported GAAP net income attributable to NHC was $35,857,000 compared to $32,205,000 for the same period in 2025. Excluding the unrealized gains in our marketable equity securities portfolio and other non-GAAP adjustments, adjusted net income for the quarter ended March 31, 2026 was $30,089,000 compared to $24,838,000 for the same period in 2025, an increase of 21.1% (*). The GAAP diluted earnings per share were $2.27 and $2.07 for the quarters ending March 31, 2026 and 2025, respectively. Adjusted diluted earnings per share were $1.91 and $1.59 for the quarters ending March 31, 2026 and 2025, respectively (*).

 

(*) - See the tables below that provide a reconciliation of GAAP to non-GAAP items.

 

 

About NHC

As of May 1, 2026, NHC affiliates operate for themselves and third parties 80 skilled nursing facilities with 10,323 beds. NHC affiliates also operate 26 assisted living communities with 1,413 units, nine independent living communities with 777 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. Other information about the company can be found on our web site at www.nhccare.com.

 

Non-GAAP Financial Presentation

The Company is providing certain non-GAAP financial measures as the Company believes that these figures are helpful in allowing investors to more accurately assess the ongoing nature of the Company’s operations and measure the Company’s performance more consistently across periods. Therefore, the Company believes this information is meaningful in addition to the information contained in the GAAP presentation of financial information. The presentation of this additional non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP.

 

Forward-Looking Statements

Statements in this press release that are not historical facts are forward-looking statements. NHC cautions investors that any forward-looking statements made involve risks and uncertainties and are not guarantees of future performance. The risks and uncertainties are detailed from time to time in reports filed by NHC with the S.E.C., including Forms 8-K, 10-Q, and 10-K. All forward-looking statements represent NHC’s best judgment as of the date of this release.

 

-more-
 

 

Consolidated Statements of Operations

(in thousands, except share and per share amounts)

 

   

Three Months Ended

  
   

March 31

  
   

2026

    

2025

  
   

(unaudited)

  

Revenues:

                

Net patient revenues

   $ 369,805     $ 361,607  

Other revenues

     12,016       12,090  

Net operating revenues

     381,821       373,697  
                 

Costs and expenses:

                

Salaries, wages and benefits

     235,074       228,130  

Other operating

     91,237       92,457  

Facility rent

     11,643       11,365  

Depreciation and amortization

     11,614       10,978  

Total costs and expenses

     349,568       342,930  
                 

Income from operations

     32,253       30,767  
                 

Non-operating income

     3,757       4,079  

Interest expense

     (269 )     (2,106 )

Unrealized gains on marketable equity securities

     9,074       10,982  
                 

Income before income taxes

     44,815       43,722  

Income tax provision

     (8,712 )     (11,432 )

Net income

     36,103       32,290  
                 

Net income attributable to noncontrolling interest

     (246 )     (85 )
                 

Net income attributable to National HealthCare Corporation

   $ 35,857     $ 32,205  
                 

Net income per common share

                

Basic

   $ 2.31     $ 2.09  

Diluted

   $ 2.27     $ 2.07  
                 

Weighted average common shares outstanding

                

Basic

     15,541,634       15,438,306  

Diluted

     15,770,507       15,575,752  
                 

Dividends declared per common share

   $ 0.64     $ 0.61  

 

Balance Sheet Data

  

March 31

    

December 31

  

(in thousands)

  

2026

    

2025

  
                 

Cash, cash equivalents and marketable securities

   $ 258,352     $ 255,801  

Restricted cash, cash equivalents and marketable securities

     160,258       159,848  

Current assets

     465,576       461,820  

Property and equipment, net

     671,823       673,797  

Total assets

     1,524,094       1,526,419  

Current liabilities

     250,825       246,132  

Current and long-term debt

     -       40,000  

NHC stockholders' equity

     1,090,949       1,068,772  

 

-more-
 

 

Selected Operating Statistics

 

   

Three Months Ended

  
   

March 31

  
   

2026

    

2025

  
   

(unaudited)

  

Skilled Nursing Per Diems:

                

Medicare

   $ 630.44     $ 612.13  

Managed Care

     507.06       492.40  

Medicaid

     292.21       281.67  

Private Pay and Other

     349.92       337.04  

Average Skilled Nursing Per Diem

   $ 371.69     $ 360.14  
                 

Skilled Nursing Patient Days:

                

Medicare

     84,040       86,254  

Managed Care

     83,376       83,646  

Medicaid

     362,293       363,642  

Private Pay and Other

     194,747       184,594  

Total Skilled Nursing Patient Days

     724,456       718,136  

 

The tables below provide reconciliations of GAAP to non-GAAP items (in thousands, except per share amounts):

 

   

Three Months Ended

  
   

March 31

  
   

2026

    

2025

  
   

(unaudited)

  
                 

Net income attributable to National Healthcare Corporation

   $ 35,857     $ 32,205  

Non-GAAP adjustments

                

Unrealized gains on marketable equity securities

     (9,074 )     (10,982 )

Stock-based compensation expense

     1,280       1,027  

Income tax provision on non-GAAP adjustments

     2,026       2,588  

Non-GAAP Net income

   $ 30,089     $ 24,838  
                 

GAAP diluted earnings per share

   $ 2.27     $ 2.07  

Non-GAAP adjustments

                

Unrealized gains on marketable equity securities

     (0.57 )     (0.71 )

Stock-based compensation expense

     0.08       0.06  

Income tax provision on non-GAAP adjustments

     0.13       0.17  

Non-GAAP diluted earnings per share

   $ 1.91     $ 1.59  

 

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