Latest news with #WhiteOakManagement
Yahoo
4 days ago
- Business
- 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
Yahoo
06-06-2025
- Business
- Yahoo
Allvue Systems Announces White Oak Management S.A. Is Live on Fund Administration Essentials Platform
Deployment underscores Allvue's momentum in Luxembourg and supports White Oak Management's mission to deliver scalable, tech-enabled fund services. NEW YORK, June 06, 2025--(BUSINESS WIRE)--Allvue Systems, a leading provider of cloud-based technology for investment managers and fund administrators, today announced that Luxembourg-based White Oak Management S.A. has officially gone live on Allvue's Fund Administration platform. White Oak Management selected Allvue to power its fund administration offering, enabling the firm to deliver streamlined operations, automated workflows, and superior reporting capabilities to its customers. As White Oak Management expands its footprint in Luxembourg's financial services landscape, Allvue's integrated, cloud-native platform provides the scalability and efficiency needed to meet the evolving demands of the alternatives markets. "We chose Allvue because we needed more than just software — we needed a long-term technology partner with the ability to support our growing business in the region," said Gabor Mocskonyi, Managing Director of White Oak Management. "Allvue's robust reporting capabilities, operational flexibility, and seamless investor experience enables us to provide the level of service our clients expect as we scale." "White Oak Management is exactly the kind of partner we built Fund Administration Essentials for — a forward-thinking firm focused on delivering premium client service with operational excellence," said James DiCostanzo, Head of the Fund Administration line of business at Allvue Systems. "We're especially proud to support their growth in the Luxembourg region, where demand is rising for next-generation fund servicing capabilities." The deployment also underscores Allvue's ability to support Transfer Agent operations — a critical pillar in fund administration. Allvue's capabilities empower firms like White Oak Management to manage investor information, account maintenance, and ongoing due diligence. The platform also supports capabilities related to transaction administration, as well as fund accounting, and investor relations. With Allvue, administrators can deliver a seamless and compliant investor experience, from onboarding to reporting. Allvue's Fund Administration platform is designed to help fund administrators scale to meet modern challenges through: Powerful fund accounting and general ledger tools Collaborative client portals and reporting dashboards Investment and investor management tools to meet Transfer Agent responsibilities Industry leading reporting capabilities A modern, API-first architecture for integration and growth "This successful deployment further reinforces Allvue's commitment to supporting administrators across Europe with purpose-built solutions that accelerate growth, reduce operational risk, and elevate the investor experience," said Iryan Clunis, Head of EMEA at Allvue Systems. To learn more visit About Allvue Systems Allvue is headquartered in Miami with locations globally throughout North America, Europe and India. Allvue is a recognized leader of cloud-based technology, AI, data, and services solutions for alternative investment managers in the private capital markets. Our integrated suite of software empowers firms of all sizes—including private equity managers, private debt managers, public credit managers, fund administrators, and banks—to streamline operations, enhance data accuracy, and drive superior investment decisions. Allvue has made deep investments in AI research and development as part of its commitment to innovation, which will enable clients to optimize workflows, automate processes, and gain deeper analytical insights across the entire investment lifecycle. About White Oak Management S.A. White Oak Management S.A. is a Luxembourg-based firm offering bespoke family office, corporate, and administrative services. Founded with a client-centric philosophy, the firm is known for its rigorous service quality, regulatory compliance, and long-standing client relationships. Learn more at View source version on Contacts Press Contacts for Allvue: Laura SankowichAllvue Systems484.354.3918lsankowich@ Jide AdesesanAllvue@ Made By Giants Press Contact for White Oak Gabor MocskonyiWhite Oak Management+352 2899 Sign in to access your portfolio
Business Wire
06-06-2025
- Business
- Business Wire
Allvue Systems Announces White Oak Management S.A. Is Live on Fund Administration Essentials Platform
NEW YORK--(BUSINESS WIRE)--Allvue Systems, a leading provider of cloud-based technology for investment managers and fund administrators, today announced that Luxembourg-based White Oak Management S.A. has officially gone live on Allvue's Fund Administration platform. White Oak Management selected Allvue to power its fund administration offering, enabling the firm to deliver streamlined operations, automated workflows, and superior reporting capabilities to its customers. As White Oak Management expands its footprint in Luxembourg's financial services landscape, Allvue's integrated, cloud-native platform provides the scalability and efficiency needed to meet the evolving demands of the alternatives markets. 'We chose Allvue because we needed more than just software — we needed a long-term technology partner with the ability to support our growing business in the region,' said Gabor Mocskonyi, Managing Director of White Oak Management. 'Allvue's robust reporting capabilities, operational flexibility, and seamless investor experience enables us to provide the level of service our clients expect as we scale.' 'White Oak Management is exactly the kind of partner we built Fund Administration Essentials for — a forward-thinking firm focused on delivering premium client service with operational excellence,' said James DiCostanzo, Head of the Fund Administration line of business at Allvue Systems. 'We're especially proud to support their growth in the Luxembourg region, where demand is rising for next-generation fund servicing capabilities.' The deployment also underscores Allvue's ability to support Transfer Agent operations — a critical pillar in fund administration. Allvue's capabilities empower firms like White Oak Management to manage investor information, account maintenance, and ongoing due diligence. The platform also supports capabilities related to transaction administration, as well as fund accounting, and investor relations. With Allvue, administrators can deliver a seamless and compliant investor experience, from onboarding to reporting. Allvue's Fund Administration platform is designed to help fund administrators scale to meet modern challenges through: Powerful fund accounting and general ledger tools Collaborative client portals and reporting dashboards Investment and investor management tools to meet Transfer Agent responsibilities Industry leading reporting capabilities A modern, API-first architecture for integration and growth 'This successful deployment further reinforces Allvue's commitment to supporting administrators across Europe with purpose-built solutions that accelerate growth, reduce operational risk, and elevate the investor experience,' said Iryan Clunis, Head of EMEA at Allvue Systems. To learn more visit About Allvue Systems Allvue is headquartered in Miami with locations globally throughout North America, Europe and India. Allvue is a recognized leader of cloud-based technology, AI, data, and services solutions for alternative investment managers in the private capital markets. Our integrated suite of software empowers firms of all sizes—including private equity managers, private debt managers, public credit managers, fund administrators, and banks —to streamline operations, enhance data accuracy, and drive superior investment decisions. Allvue has made deep investments in AI research and development as part of its commitment to innovation, which will enable clients to optimize workflows, automate processes, and gain deeper analytical insights across the entire investment lifecycle. White Oak Management S.A. is a Luxembourg-based firm offering bespoke family office, corporate, and administrative services. Founded with a client-centric philosophy, the firm is known for its rigorous service quality, regulatory compliance, and long-standing client relationships. Learn more at
