Form 8-K
8-K — NATIONAL HEALTHCARE CORP
Accession: 0001437749-26-026957
Filed: 2026-08-11
Period: 2026-08-07
CIK: 0001047335
SIC: 8051 (SERVICES-SKILLED NURSING CARE FACILITIES)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — nhc20260806c_8k.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (ex_1000196.htm)
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2026-08-07
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): August 7, 2026 (August 7, 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 August 7, 2026, announcing its June 30, 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 August 7, 2026 by National HealthCare Corporation announcing June 30, 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: August 7, 2026
NATIONAL HEALTHCARE CORPORATION
By:
/s/
Brian F. Kidd
Name: Brian F. Kidd
Title: Senior VP/Chief Financial Officer
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: ex_1000196.htm · Sequence: 2
ex_1000196.htm
Exhibit 99.1
For release: August 7, 2026
Contact: Brian F. Kidd, SVP/CFO
Phone: (615) 890-2020
NHC Reports Second 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 June 30, 2026 totaled $408,025,000 compared to $374,910,000 for the quarter ended June 30, 2025, an increase of 8.8%. The increase in net operating revenues for the second quarter of 2026 was primarily related to the June 1, 2026 acquisition of five skilled nursing facilities. The five skilled nursing facilities have 639 licensed skilled nursing beds in the states of Tennessee and South Carolina.
For the quarter ended June 30, 2026, the reported GAAP net income attributable to NHC was $40,319,000 compared to $23,722,000 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 June 30, 2026 was $27,551,000 compared to $25,710,000 for the same period in 2025, a 7.2% increase
(*). The GAAP diluted earnings per share were $2.54 and $1.52 for the quarters ending June 30, 2026 and 2025, respectively. Adjusted diluted earnings per share were $1.74 and $1.65 for the quarters ending June 30, 2026 and 2025, respectively
(*).
(*) - See the tables below that provide a reconciliation of GAAP to non-GAAP items.
About NHC
As of August 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 775 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-
Page 2
Consolidated Statements of Operations
(in thousands, except share and per share amounts)
Three Months Ended
Six Months Ended
June 30
June 30
2026
2025
2026
2025
(unaudited)
(unaudited)
Revenues:
Net patient revenues
$
378,359
$
363,349
$
748,164
$
724,956
Other revenues
29,666
11,561
41,682
23,651
Net operating revenues
408,025
374,910
789,846
748,607
Costs and expenses:
Salaries, wages and benefits
241,902
226,534
476,976
454,664
Other operating
94,475
91,943
185,712
184,400
Facility rent
11,540
11,328
23,183
22,693
Depreciation and amortization
11,173
11,015
22,787
21,993
Total costs and expenses
359,090
340,820
708,658
683,750
Income from operations
48,935
34,090
81,188
64,857
Non-operating income
4,172
5,132
7,929
9,211
Interest expense
(13
)
(1,993
)
(282
)
(4,099
)
Unrealized gains/(losses) on marketable equity securities
915
(5,061
)
9,989
5,921
Income before income taxes
54,009
32,168
98,824
75,890
Income tax provision
(13,472
)
(8,055
)
(22,184
)
(19,487
)
Net income
40,537
24,113
76,640
56,403
Net income attributable to noncontrolling interest
(218
)
(391
)
(464
)
(476
)
Net income attributable to National HealthCare Corporation
$
40,319
$
23,722
$
76,176
$
55,927
Net income per common share
Basic
$
2.58
$
1.53
$
4.89
$
3.62
Diluted
$
2.54
$
1.52
$
4.82
$
3.59
Weighted average common shares outstanding
Basic
15,617,655
15,462,135
15,579,854
15,450,286
Diluted
15,864,329
15,599,538
15,817,646
15,587,783
Dividends declared per common share
$
0.67
$
0.64
$
1.31
$
1.25
Balance Sheet Data
June 30
December 31
(in thousands)
2026
2025
(unaudited)
Cash, cash equivalents and marketable securities
$
210,190
$
255,801
Restricted cash, cash equivalents and marketable securities
151,833
159,848
Current assets
439,602
461,820
Property and equipment, net
726,768
673,797
Total assets
1,536,930
1,526,419
Current liabilities
236,112
246,132
Current and long-term debt
-
40,000
NHC stockholders' equity
1,122,302
1,068,772
-more-
Page 3
Selected Operating Statistics
Three Months Ended
Six Months Ended
June 30
June 30
2026
2025
2026
2025
(unaudited)
(unaudited)
Skilled Nursing Per Diems:
Medicare
$
628.12
$
614.85
$
629.32
$
613.47
Managed Care
500.15
486.17
503.52
489.30
Medicaid
290.12
286.43
291.15
284.07
Private Pay and Other
351.83
341.34
350.90
339.24
Average Skilled Nursing Per Diem
$
366.88
$
361.42
$
369.24
$
360.78
Skilled Nursing Patient Days:
Medicare
78,137
83,615
162,177
169,869
Managed Care
87,782
83,015
171,158
166,661
Medicaid
378,010
368,687
740,303
732,329
Private Pay and Other
205,794
194,202
400,541
378,796
Total Skilled Nursing Patient Days
749,723
729,519
1,474,179
1,447,655
The tables below provide reconciliations of GAAP to non-GAAP items (in thousands, except per share amounts):
Three Months Ended
Six Months Ended
June 30
June 30
2026
2025
2026
2025
(unaudited)
(unaudited)
Net income attributable to National Healthcare Corporation
$
40,319
$
23,722
$
76,176
$
55,927
Non-GAAP adjustments
Unrealized gains on marketable equity securities
(915
)
5,061
(9,989
)
(5,921
)
Stock-based compensation expense
1,986
1,232
3,266
2,260
Gain on sale of property and equipment
-
(3,606
)
-
(3,606
)
Income tax provision on non-GAAP adjustments
(278
)
(699
)
1,748
1,889
Non-GAAP Net income
$
41,112
$
25,710
$
71,201
$
50,549
59.9
%
GAAP diluted earnings per share
$
2.54
$
1.52
$
4.82
$
3.59
Non-GAAP adjustments
Unrealized gains on marketable equity securities
(0.06
)
0.32
(0.63
)
(0.38
)
Stock-based compensation expense
0.13
0.08
0.20
0.14
Gain on sale of property and equipment
-
(0.23
)
-
(0.23
)
Income tax provision on non-GAAP adjustments
(0.02
)
(0.04
)
0.11
0.12
Non-GAAP diluted earnings per share
$
2.59
$
1.65
$
4.50
$
3.24
57.0
%
###
Page 4
Selected Operating Statistics
Three Months Ended
Six Months Ended
June 30
June 30
2026
2025
2026
2025
(unaudited)
(unaudited)
Skilled Nursing Per Diems:
Medicare
$
628.12
$
614.85
$
629.32
$
613.47
Managed Care
500.15
486.17
503.52
489.30
Medicaid
290.12
286.43
291.15
284.07
Private Pay and Other
351.83
341.34
350.90
339.24
Average Skilled Nursing Per Diem
$
366.88
$
361.42
$
369.24
$
360.78
Skilled Nursing Patient Days:
Medicare
78,137
83,615
162,177
169,869
Managed Care
87,782
83,015
171,158
166,661
Medicaid
378,010
368,687
740,303
732,329
Private Pay and Other
205,794
194,202
400,541
378,796
Total Skilled Nursing Patient Days
749,723
729,519
1,474,179
1,447,655
The tables below provide reconciliations of GAAP to non-GAAP items (in thousands, except per share amounts):
Three Months Ended
Six Months Ended
June 30
June 30
2026
2025
2026
2025
(unaudited)
(unaudited)
Net income attributable to National Healthcare Corporation
$
40,319
$
23,722
$
76,176
$
55,927
Non-GAAP adjustments
Unrealized gains on marketable equity securities
(915
)
5,061
(9,989
)
(5,921
)
Stock-based compensation expense
1,986
1,232
3,266
2,260
National management fee revenue from prior periods
(18,325
)
-
(18,325
)
-
Gain on sale of property and equipment
-
(3,606
)
-
(3,606
)
Income tax provision on non-GAAP adjustments
4,486
(699
)
6,512
1,889
Non-GAAP Net income
$
27,551
$
25,710
$
57,640
$
50,549
GAAP diluted earnings per share
$
2.54
$
1.52
$
4.82
$
3.59
Non-GAAP adjustments
Unrealized gains on marketable equity securities
(0.06
)
0.32
(0.63
)
(0.38
)
Stock-based compensation expense
0.13
0.08
0.20
0.14
National management fee revenue from prior periods
(1.15
)
-
(1.15
)
-
Gain on sale of property and equipment
-
(0.23
)
-
(0.23
)
Income tax provision on non-GAAP adjustments
0.28
(0.04
)
0.40
0.12
Non-GAAP diluted earnings per share
$
1.74
$
1.65
$
3.64
$
3.24
###
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v3.26.1
Document And Entity Information
Aug. 07, 2026
Document Information [Line Items]
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Document, Type
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Entity, Tax Identification Number
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Entity, Address, City or Town
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Entity, Address, State or Province
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City Area Code
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