---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-015705"
form_type: "8-K"
ticker: "SEM"
cik: "0001320414"
company_name: "SELECT MEDICAL HOLDINGS CORP"
filed_at: "2025-02-20T23:59:59+00:00"
generated_at: "2026-05-26T08:09:43.475012+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Select Medical Q4 revenue +7.8% to $1.31B, adjusted EPS +50%; issues 2025 outlook

## Summary
- Q4 revenue $1.31B (+7.8% YoY); loss from continuing ops $10.5M vs profit $30.3M (impacted by $45.9M stock comp acceleration and $17.9M debt retirement loss).
- Adjusted EPS from continuing ops $0.18 (+50% YoY); full-year adjusted EPS $0.94 (+74.1%).
- Rehabilitation hospital segment Q4 margin declined to 21.2% from 25.5%; outpatient rehab full-year margin down to 8.7% from 9.4%.
- Completed tax-free distribution of Concentra; no longer owns any shares.
- 2025 outlook: revenue $5.4-5.6B, Adj EBITDA $520-540M, diluted EPS $1.09-1.19.

## SEC filing metadata
- accession: 0001104659-25-015705
- form_type: 8-K
- ticker: SEM
- cik: 0001320414
- company_name: SELECT MEDICAL HOLDINGS CORP
- filed_at: 2025-02-20T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/1320414/000110465925015705/0001104659-25-015705-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1320414/000110465925015705/tm257125d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-015705
- JSON: https://secwatch.observer/filing/0001104659-25-015705.json
- Plain text: https://secwatch.observer/filing/0001104659-25-015705.txt

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