---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-056505"
form_type: "8-K"
ticker: "SEM"
cik: "0001320414"
company_name: "SELECT MEDICAL HOLDINGS CORP"
filed_at: "2022-05-05T23:59:59+00:00"
generated_at: "2026-06-25T23:25:48.683129+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Select Medical Q1 net income drops 59% to $55.9M; revenue up 3.4% to $1.60B

## Summary
- Adjusted EBITDA fell 37% to $163.8M from $258.3M; operating income $104.0M vs $202.0M.
- EPS $0.37 vs $0.82; critical illness hospital segment Adjusted EBITDA margin fell to 6.0% from 19.0%.
- Dividend of $0.125 per share declared; payable June 1, 2022 to holders of record May 19, 2022.
- Reaffirmed FY2022 revenue outlook $6.25B-$6.40B; labor climate cited for withholding EBITDA and EPS outlook.
- Concentra segment Adjusted EBITDA up 9.1% to $89.5M with 21.1% margin; repurchased 2.1M shares in Q1.

## SEC filing metadata
- accession: 0001104659-22-056505
- form_type: 8-K
- ticker: SEM
- cik: 0001320414
- company_name: SELECT MEDICAL HOLDINGS CORP
- filed_at: 2022-05-05T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1320414/000110465922056505/0001104659-22-056505-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1320414/000110465922056505/tm2214579d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-056505
- JSON: https://secwatch.observer/filing/0001104659-22-056505.json
- Plain text: https://secwatch.observer/filing/0001104659-22-056505.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.