Form 8-K

8-K — NATIONAL HEALTHCARE CORP

Accession: 0001437749-26-015802

Filed: 2026-05-08

Period: 2026-05-08

CIK: 0001047335

SIC: 8051 (SERVICES-SKILLED NURSING CARE FACILITIES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — nhc20260506c_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (ex_958378.htm)

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8-K — FORM 8-K

8-K (Primary)

Filename: nhc20260506c_8k.htm · Sequence: 1

nhc20260506c_8k.htm

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0001047335

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

Copy of press release issued on May 8, 2026 by National HealthCare Corporation announcing March 31, 2026 earnings.

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

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: ex_958378.htm · Sequence: 2

ex_958378.htm

Exhibit 99.1

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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v3.26.1

Document And Entity Information

May 08, 2026

Document Information [Line Items]

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