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Trump's 'good economic news' is awfully murky

Trump's 'good economic news' is awfully murky

Yahoo3 days ago
Bonanza what?
Re "Trump delivers bonanza of good economic news for U.S.," Aug. 1: I'm not sure what 'bonanza of good economic news' the president is said to have delivered, as Nicole Russell claims in her opinion piece.
But here is a quote from a Wall Street Journal article by Paul Kiernan, published the same day:
'… official data this week showed a marked slowdown in economic output and consumer spending, followed by a jarringly weak jobs report. Where things go from here is murky.'
Russell, please note: that's Paul Kiernan, not Paul Krugman. Yet Kiernan's reporting and the data seem to support Krugman's concerns about the state of the economy.
Nicole Russell: "Trump delivers bonanza of good economic news for U.S.
If this is bonanza, one shudders to think what the bad news feels like.
Manoj Choudhary, Reynoldsburg
Honoring a man who always prioritized people
I am writing to express profound appreciation for the well-deserved recognition of the late former Ohio Director of Agriculture Steve Mauer on Aug. 1, inducted posthumously into the Ohio Agricultural Hall of Fame.
As a longtime admirer of Steve's contributions to our community and the broader agricultural landscape, I was deeply moved by the tribute paid to him at the Ohio Ag Council Hall of Fame Breakfast.
Steve, also twice appointed Ohio State executive director for the United States Department of Agriculture Farm Service Agency by Presidents Bill Clinton and Barack Obama, embodied the spirit of Ohio agriculture — a visionary leader whose dedication to all things Ohio , advocacy for rural communities and mentorship of future generations left a lasting mark.
He championed diversifying Ohio crop production, helped establish Ohio's organic certification program and opened up new international markets for Ohio agricultural products.
Above it all, he genuinely cared about and always prioritized people.
He not only advanced our industry but also inspired countless individuals, myself included.
The hall of fame's decision to honor Steve celebrates more than his legacy; it reaffirms the values of perseverance, integrity and stewardship that define Ohio's agricultural heritage. Seeing his wife Amy and their family accept this accolade was a poignant reminder of the lives he touched and the enduring impact of his work.
Thank you to the Ohio Agricultural Hall of Fame for ensuring that Steve Mauer's contributions will never be forgotten. This recognition not only honors his memory but also inspires all of us to carry forward his passion for progress and community.
Tim Sword, Agricultural Export Administrator, Ohio Department of Agriculture
LifeWise and Tressel
Re letter to the editor "Full background checks shouldn't be optional," Aug. 1: Coincidence that the letter to the editor from Dave Schwendenman about LifeWise Academy's failure to put basic safeguards in place for the children they remove from class during school hours was immediately followed by the "Tressel for Ohio governor" letter from Keith Luck?
It should be lost on no one that Tressel's name will be on the LifeWise training room when their new national headquarters opens in Hilliard this year.
Sue Miller, Columbus
This article originally appeared on The Columbus Dispatch: Good news for the economy? Data begs to differ | Letters
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NHC Reports Second Quarter 2025 Earnings
NHC Reports Second Quarter 2025 Earnings

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time15 minutes ago

  • Yahoo

NHC Reports Second Quarter 2025 Earnings

MURFREESBORO, Tenn., August 08, 2025--(BUSINESS WIRE)--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, 2025 totaled $374,910,000 compared to $300,658,000 for the quarter ended June 30, 2024, an increase of 24.7%. The increase in net operating revenues for the second quarter of 2025 compared to the second quarter of 2024 was due to an 9.6% increase in same-facility net operating revenues, as well as the August 1, 2024 acquisition of White Oak Management, Inc. ("White Oak"). For the quarter ended June 30, 2025, the reported GAAP net income attributable to NHC was $23,722,000 compared to $26,844,000 for the same period in 2024. Excluding the unrealized gains and losses in our marketable equity securities portfolio and other non-GAAP adjustments, adjusted net income for the quarter ended June 30, 2025 was $25,710,000 compared to $15,612,000 for the same period in 2024, an increase of 64.7% (*). The GAAP diluted earnings per share were $1.52 and $1.73 for the quarters ending June 30, 2025 and 2024, respectively. Adjusted diluted earnings per share were $1.65 and $1.00 for the quarters ending June 30, 2025 and 2024, respectively (*). (*) - See the tables below that provide a reconciliation of GAAP to non-GAAP items. About NHCAs of August 1, 2025, NHC affiliates operate for themselves and third parties 80 skilled nursing facilities with 10,329 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 Non-GAAP Financial PresentationThe 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 StatementsStatements 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. Consolidated Statements of Operations (in thousands, except share and per share amounts) Three Months Ended Six Months Ended June 30 June 30 2025 2024 2025 2024 (unaudited) (unaudited) Revenues: Net patient revenues $ 363,349 $ 279,918 $ 724,956 $ 565,741 Other revenues 11,561 11,295 23,651 22,648 Government stimulus income - 9,445 - 9,445 Net operating revenues and grant income 374,910 300,658 748,607 597,834 Costs and expenses: Salaries, wages and benefits 226,534 180,076 454,664 363,214 Other operating 91,943 78,154 184,400 155,583 Facility rent 11,328 10,570 22,693 20,918 Depreciation and amortization 11,015 9,338 21,993 19,924 Total costs and expenses 340,820 278,138 683,750 559,639 Income from operations 34,090 22,520 64,857 38,195 Non-operating income 5,132 4,956 9,211 10,641 Interest expense (1,993 ) - (4,099 ) (46 ) Unrealized gains/(losses) on marketable equity securities (5,061 ) 9,124 5,921 23,523 Income before income taxes 32,168 36,600 75,890 72,313 Income tax provision (8,055 ) (9,494 ) (19,487 ) (18,956 ) Net income 24,113 27,106 56,403 53,357 Net income attributable to noncontrolling interest (391 ) (262 ) (476 ) (300 ) Net income attributable to National HealthCare Corporation $ 23,722 $ 26,844 $ 55,927 $ 53,057 Net income per common share Basic $ 1.53 $ 1.74 $ 3.62 $ 3.45 Diluted $ 1.52 $ 1.73 $ 3.59 $ 3.42 Weighted average common shares outstanding Basic 15,462,135 15,391,535 15,450,286 15,371,150 Diluted 15,599,638 15,555,612 15,587,783 15,530,624 Dividends declared per common share $ 0.64 $ 0.61 $ 1.25 $ 1.20 Balance Sheet Data June 30 December 31 (in thousands) 2025 2024 (unaudited) Cash, cash equivalents and marketable securities $ 257,628 $ 216,185 Restricted cash, cash equivalents and marketable securities 169,340 163,795 Current assets 463,227 424,408 Property and equipment, net 676,619 684,289 Total assets 1,562,220 1,524,429 Current liabilities, excluding current long-term debt 261,245 227,297 Current and long-term debt 110,000 137,000 NHC stockholders' equity 1,021,905 980,161 Selected Operating Statistics Three Months Ended Six Months Ended June 30 June 30 2025 2024 2025 2024 (unaudited) (unaudited) Skilled Nursing Per Diems: Medicare $ 614.85 $ 577.71 $ 613.47 $ 579.81 Managed Care 486.17 447.96 489.30 459.48 Medicaid 286.43 264.49 284.07 264.88 Private Pay and Other 341.34 312.91 339.24 310.31 Average Skilled Nursing Per Diem $ 361.42 $ 338.86 $ 360.78 (1) $ 341.21 (1) Skilled Nursing Patient Days: Medicare 83,615 74,602 169,869 155,758 Managed Care 83,015 62,957 166,661 128,388 Medicaid 368,687 279,504 732,329 561,325 Private Pay and Other 194,202 150,234 378,796 307,677 Total Skilled Nursing Patient Days 729,519 567,297 1,447,655 (1) 1,153,148 (1) (1) NHC exited three skilled nursing facilities in Missouri on March 1, 2024. For the six months ended June 30, 2024, the exited Missouri skilled nursing facilities had an average skilled nursing per diem of $275.64 and 20,267 patient days. 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 2025 2024 2025 2024 (unaudited) (unaudited) Net income attributable to National Healthcare Corporation $ 23,722 $ 26,844 $ 55,927 $ 53,057 Non-GAAP adjustments Unrealized (gains)/losses on marketable equity securities 5,061 (9,124 ) (5,921 ) (23,523 ) Operating losses for newly-opened operations not at full capacity - 20 - 20 Gain on sale of property and equipment (3,606 ) - (3,606 ) - Gain on sale of unconsolidated company - - - (1,024 ) Stock-based compensation expense 1,232 1,176 2,260 1,969 Acquisition-related expenses - 2,194 - 2,194 Employee retention credit - (9,445 ) - (9,445 ) Income tax provision/(benefit) on non-GAAP adjustments (699 ) 3,947 1,889 7,750 Non-GAAP Net income $ 25,710 $ 15,612 $ 50,549 $ 30,998 GAAP diluted earnings per share $ 1.52 $ 1.73 $ 3.59 $ 3.42 Non-GAAP adjustments Unrealized (gains)/losses on marketable equity securities 0.32 (0.59 ) (0.38 ) (1.51 ) Gain on sale of property and equipment (0.23 ) - (0.23 ) - Gain on sale of unconsolidated company - - - (0.07 ) Stock-based compensation expense 0.08 0.08 0.14 0.13 Acquisition-related expenses - 0.14 - 0.14 Employee retention credit - (0.61 ) - (0.61 ) Income tax provision/(benefit) on non-GAAP adjustments (0.04 ) 0.25 0.12 0.50 Non-GAAP diluted earnings per share $ 1.65 $ 1.00 $ 3.24 $ 2.00 View source version on Contacts Brian F. Kidd, SVP/CFOPhone: (615) 890-2020

Under Armour forecasts downbeat quarterly sales, shares drop
Under Armour forecasts downbeat quarterly sales, shares drop

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time15 minutes ago

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Under Armour forecasts downbeat quarterly sales, shares drop

(Reuters) -Under Armour forecast second-quarter revenue below estimates on Friday as the sportswear maker grapples with muted demand in North America due to still-high inflation and tariff uncertainty, sending its shares down 14% in premarket trading. The Maryland-based retailer's attempts to reset its business after sales declined over the last two years have been in jeopardy, with consumer spending weakening in the U.S. as the Trump administration's fluctuating tariff policies fan uncertainty. Under Armour in May announced plans to raise prices, risking demand for its apparel as customers look for cheaper options. On Friday, the company said the forecast includes considerations for ongoing uncertainty around trade policies and the broader macroeconomic environment, including potential demand and cost impacts from tariffs. The company now expects quarterly revenue to decline between 6% and 7%, compared with analysts' average estimate of a 2.9% drop, according to data compiled by LSEG.

How Much Is Joe Biden's Social Security Check?
How Much Is Joe Biden's Social Security Check?

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time15 minutes ago

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How Much Is Joe Biden's Social Security Check?

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