Select Medical Holdings Corporation Announces Results For Its Second Quarter Ended June 30, 2019

Friday, August 2, 2019 General News
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XI. Net Income to Adjusted EBITDA and Earnings per Common Share to Adjusted Earnings per Common Share Reconciliations

Business Outlook for the Year Ending December 31, 2019

(In millions, unaudited)

The following are reconciliations of full year 2019 Adjusted EBITDA and adjusted earnings per common share expectations as computed at the low and high points of the range to the closest comparable GAAP financial measure.  Refer to table IX and table X for a discussion of Select Medical's use of Adjusted EBITDA and adjusted earnings per common share in evaluating financial performance. Refer to table IX for the definition of Adjusted EBITDA. Each item presented in the below tables are estimations of full year 2019 expectations.

Range

Non-GAAP Measure Reconciliation

Low

High

Net income attributable to Select Medical

$

137

$

158

Net income attributable to non-controlling interests

56

65

Net income

193

223

Income tax expense

66

76

Interest expense

200

200

Equity in earnings of unconsolidated subsidiaries

(25)

(25)

Non-operating gain

(7)

(7)

Income from operations

427

467

Stock compensation expense

27

27

Depreciation and amortization

206

206

Adjusted EBITDA

$

660

$

700

Range

Non-GAAP Measure Reconciliation

Low

High

Diluted earnings per common share

$

1.00

$

1.16

Adjustments:

Non-operating gain

(0.03)

(0.03)

Adjusted earnings per common share

$

0.97

$

1.13



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