Shares of Select Medical Holdings Corp. (SEM) surged over 15% on Thursday after the company reported quarterly results that met Wall Street's expectations.
For the third quarter ended September 30, Select Medical reported adjusted earnings per share of 43 cents, in line with the consensus estimate from analysts. Revenue grew 5.7% year-over-year to $1.76 billion, slightly exceeding expectations of $1.74 billion.
The healthcare services company posted net income of $55.63 million for the quarter. While earnings per share declined from 46 cents a year ago, the results removed some uncertainty around Select Medical's performance and analysts remain broadly positive on the stock.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.