Select Medical releases 2013 forecast
Cumberland County-based Select Medical Holdings Corp. has announced its business outlook for 2013.
The hospital operator expects consolidated net operating revenues from $2.95 billion to $3.05 billion; adjusted EBITDA from $400 million to $415 million; and fully diluted income per common share from $0.98 to $1.04.
According to a Jan. 7 presentation, Select Medical's 2011 net revenue and adjusted EBITDA were $2.8 billion and $386 million respectively. Final results for 2012 are not yet in, but its last 12 months results as calculated at third quarter of 2012 are net revenue of $2.9 billion and adjusted EBITDA of $401 million.
The prediction does not include an estimated negative impact to net operating revenues and adjusted EBITDA of $20 million if congressional action does not prevent sequestration cuts scheduled to occur on or about April 1.
Select Medical said it assumed a 40 percent effective tax rate when preparing the above business outlook for 2013, compared with an effective tax rate of 39.2 percent through the first nine months of 2012.