Latest news with #SEM
Yahoo
16-05-2025
- Business
- Yahoo
SEM Q1 Earnings Call: Regulatory Headwinds and Mixed Division Performance Shape Outlook
Healthcare services company Select Medical (NYSE:SEM) missed Wall Street's revenue expectations in Q1 CY2025 as sales rose 2.4% year on year to $1.35 billion. The company's full-year revenue guidance of $5.4 billion at the midpoint came in 1.6% below analysts' estimates. Its GAAP profit of $0.44 per share was 7.3% below analysts' consensus estimates. Is now the time to buy SEM? Find out in our full research report (it's free). Revenue: $1.35 billion vs analyst estimates of $1.39 billion (2.4% year-on-year growth, 2.6% miss) EPS (GAAP): $0.44 vs analyst expectations of $0.47 (7.3% miss) Adjusted EBITDA: $151.4 million vs analyst estimates of $166.5 million (11.2% margin, 9.1% miss) The company dropped its revenue guidance for the full year to $5.4 billion at the midpoint from $5.5 billion, a 1.8% decrease EPS (GAAP) guidance for the full year is $1.14 at the midpoint, beating analyst estimates by 1.8% EBITDA guidance for the full year is $520 million at the midpoint, below analyst estimates of $531.3 million Operating Margin: 8.3%, in line with the same quarter last year Free Cash Flow was -$55.8 million compared to -$119.2 million in the same quarter last year Sales Volumes fell 1.9% year on year (1% in the same quarter last year) Market Capitalization: $1.96 billion Select Medical's first quarter results reflected the company's ongoing transition following the Concentra spin, with divergent trends across its main business lines. Management attributed the quarter's performance to robust growth in the inpatient rehabilitation division, which offset challenges in both outpatient and critical illness recovery hospital operations. CEO Robert Ortenzio cited severe weather events and Medicare reimbursement reductions as primary pressures on outpatient results, while regulatory changes and a delayed flu season weighed on the critical illness recovery segment. Looking ahead, management's guidance is shaped by ongoing regulatory uncertainty and shifting payer dynamics. The team expressed cautious optimism about inpatient rehabilitation expansion, noting a strong development pipeline and recent facility openings. However, they acknowledged persistent headwinds in the critical illness recovery segment, including higher outlier thresholds and the impact of the 20% transmittal rule. Management stated, "We are constantly having conversations both on the regulatory side with the new CMS administration and on the legislative side," underscoring the unpredictable reimbursement environment. Select Medical's leadership focused on the mixed performance across its divisions and the external factors impacting results. Management highlighted division-specific drivers and detailed ongoing initiatives to mitigate recent headwinds and support future growth. Inpatient Rehab Outperformance: The inpatient rehabilitation division delivered double-digit revenue and EBITDA growth, supported by both increased daily rates and a robust pipeline of new facility openings and expansions. Management pointed to occupancy rates above 80% in mature hospitals and a multi-year plan to add 440 new beds. Regulatory Headwinds in Critical Illness Recovery: The critical illness recovery hospital segment faced regulatory challenges, particularly a sharp increase in the high cost outlier threshold and the 20% transmittal rule. Management estimated these changes accounted for two-thirds of the EBITDA decline for this segment, and noted ongoing discussions with the Centers for Medicare & Medicaid Services (CMS) to address these impacts. Outpatient Division Weather Disruption: Severe winter storms in key geographies and a 3% decline in Medicare reimbursement led to lower outpatient volumes and EBITDA. The division saw a late-quarter recovery, and management expects further improvements as technology and access initiatives progress. Technology and Margin Initiatives: Management emphasized ongoing investments in technology for the outpatient business, including a new software platform aimed at improving productivity and contract negotiations. Early benefits were observed, and management expects margin improvement as further releases are implemented. Strategic Capacity Management: The company continued to optimize its outpatient footprint by opening 10 new clinics and closing or consolidating 13 underperforming locations, aligning resources with market demand and supporting more efficient operations. Management's outlook for the remainder of the year centers on regulatory and reimbursement trends, the pace of rehab expansion, and operational improvements in challenged segments. Regulatory Uncertainty Remains: The company's earnings trajectory will depend on future CMS policy changes impacting critical illness recovery reimbursement, as well as ongoing advocacy to mitigate outlier threshold increases and transmittal rule effects. Rehabilitation Expansion Pipeline: A strong pipeline of new inpatient rehab facilities and bed additions is expected to drive segment growth, with management noting both signed projects and additional opportunities under evaluation. Margin Recovery Initiatives: Continued implementation of technology upgrades and productivity measures in the outpatient division are expected to support gradual margin improvement, although external factors such as weather and Medicare rates remain risks. Justin Bowers (Deutsche Bank): Asked about expected occupancy rates in new inpatient rehab facilities. Management guided for occupancy to remain above 85% in mature hospitals, even as new capacity comes online. Ben Hendrix (RBC Capital Markets): Inquired about mitigation strategies for regulatory headwinds in critical illness recovery hospitals. Management indicated active discussions with CMS and ongoing advocacy, but cautioned that policy changes may take time. William Sutherland (The Benchmark Company): Sought clarification on the magnitude and timing of high cost outlier impacts and start-up costs. Management confirmed that start-up losses remained consistent year over year, with most headwinds concentrated in the first six weeks of the quarter. William Sutherland (The Benchmark Company): Asked about outpatient margin improvement initiatives. Management described new technology rollouts and improved commercial contract rates as key drivers, with incremental benefits expected throughout the year. Anne Hines (Mizuho): Asked about potential acceleration in inpatient rehab expansion to diversify away from critical illness recovery. Management confirmed an acceleration beyond currently announced projects, citing a robust project pipeline and ongoing market evaluations. In the coming quarters, the StockStory team will monitor (1) regulatory developments and any CMS decisions related to reimbursement for critical illness recovery, (2) progress on opening new inpatient rehab facilities and the pace at which they reach targeted occupancy, and (3) the effectiveness of technology and operational initiatives aimed at restoring outpatient division margins. Additionally, trends in patient volumes and reimbursement rates across all segments will remain key indicators of business momentum. Select Medical currently trades at a forward P/E ratio of 13×. Should you double down or take your chips? See for yourself in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today.
Yahoo
16-05-2025
- Automotive
- Yahoo
3 Low-Volatility Stocks in Hot Water
Stability is great, but low-volatility stocks may struggle to deliver market-beating returns over time as they sometimes underperform during bull markets. Choosing the wrong investments can cause you to fall behind, which is why we started StockStory - to separate the winners from the losers. Keeping that in mind, here are three low-volatility stocks that don't make the cut and some better opportunities instead. Rolling One-Year Beta: 0.38 Founded in 1986, Bright Horizons (NYSE:BFAM) is a global provider of child care, early education, and workforce support solutions. Why Do We Avoid BFAM? Organic sales performance over the past two years indicates the company may need to make strategic adjustments or rely on M&A to catalyze faster growth Incremental sales over the last five years were less profitable as its earnings per share were flat while its revenue grew Below-average returns on capital indicate management struggled to find compelling investment opportunities Bright Horizons is trading at $122.32 per share, or 29.4x forward P/E. To fully understand why you should be careful with BFAM, check out our full research report (it's free). Rolling One-Year Beta: 0.78 Founded in 1908 by William C. Durant, General Motors (NYSE:GM) offers a range of vehicles and automobiles through brands such as Chevrolet, Buick, GMC, and Cadillac. Why Is GM Not Exciting? Disappointing unit sales over the past two years suggest it might have to lower prices to accelerate growth Estimated sales decline of 6.2% for the next 12 months implies a challenging demand environment Gross margin of 12.5% is below its competitors, leaving less money to invest in areas like marketing and R&D General Motors's stock price of $49.68 implies a valuation ratio of 4.6x forward P/E. If you're considering GM for your portfolio, see our FREE research report to learn more. Rolling One-Year Beta: 0.64 With a nationwide network spanning 46 states and over 2,700 healthcare facilities, Select Medical (NYSE:SEM) operates critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers across the United States. Why Is SEM Risky? Declining admissions over the past two years indicate demand is soft and that the company may need to revise its strategy Projected sales decline of 11.6% over the next 12 months indicates demand will continue deteriorating Free cash flow margin dropped by 13.2 percentage points over the last five years, implying the company became more capital intensive as competition picked up At $15.23 per share, Select Medical trades at 13x forward P/E. Check out our free in-depth research report to learn more about why SEM doesn't pass our bar. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today for free. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-05-2025
- Business
- Yahoo
Select Medical Holdings Corporation (NYSE:SEM) Pays A US$0.0625 Dividend In Just Three Days
Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be intrigued to know that Select Medical Holdings Corporation (NYSE:SEM) is about to go ex-dividend in just 3 days. The ex-dividend date occurs one day before the record date, which is the day on which shareholders need to be on the company's books in order to receive a dividend. The ex-dividend date is an important date to be aware of as any purchase of the stock made on or after this date might mean a late settlement that doesn't show on the record date. Thus, you can purchase Select Medical Holdings' shares before the 15th of May in order to receive the dividend, which the company will pay on the 29th of May. The company's next dividend payment will be US$0.0625 per share, on the back of last year when the company paid a total of US$0.25 to shareholders. Last year's total dividend payments show that Select Medical Holdings has a trailing yield of 1.7% on the current share price of US$14.92. If you buy this business for its dividend, you should have an idea of whether Select Medical Holdings's dividend is reliable and sustainable. As a result, readers should always check whether Select Medical Holdings has been able to grow its dividends, or if the dividend might be cut. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Dividends are usually paid out of company profits, so if a company pays out more than it earned then its dividend is usually at greater risk of being cut. It paid out 77% of its earnings as dividends last year, which is not unreasonable, but limits reinvestment in the business and leaves the dividend vulnerable to a business downturn. It could become a concern if earnings started to decline. That said, even highly profitable companies sometimes might not generate enough cash to pay the dividend, which is why we should always check if the dividend is covered by cash flow. Luckily it paid out just 16% of its free cash flow last year. It's positive to see that Select Medical Holdings's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. Check out our latest analysis for Select Medical Holdings Click here to see the company's payout ratio, plus analyst estimates of its future dividends. Companies with falling earnings are riskier for dividend shareholders. Investors love dividends, so if earnings fall and the dividend is reduced, expect a stock to be sold off heavily at the same time. Readers will understand then, why we're concerned to see Select Medical Holdings's earnings per share have dropped 16% a year over the past five years. Ultimately, when earnings per share decline, the size of the pie from which dividends can be paid, shrinks. Select Medical Holdings also issued more than 5% of its market cap in new stock during the past year, which we feel is likely to hurt its dividend prospects in the long run. Trying to grow the dividend while issuing large amounts of new shares reminds us of the ancient Greek tale of Sisyphus - perpetually pushing a boulder uphill. Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. Select Medical Holdings's dividend payments per share have declined at 4.6% per year on average over the past 10 years, which is uninspiring. While it's not great that earnings and dividends per share have fallen in recent years, we're encouraged by the fact that management has trimmed the dividend rather than risk over-committing the company in a risky attempt to maintain yields to shareholders. From a dividend perspective, should investors buy or avoid Select Medical Holdings? We're not enthused by the declining earnings per share, although at least the company's payout ratio is within a reasonable range, meaning it may not be at imminent risk of a dividend cut. While it does have some good things going for it, we're a bit ambivalent and it would take more to convince us of Select Medical Holdings's dividend merits. If you're not too concerned about Select Medical Holdings's ability to pay dividends, you should still be mindful of some of the other risks that this business faces. For instance, we've identified 2 warning signs for Select Medical Holdings (1 is potentially serious) you should be aware of. If you're in the market for strong dividend payers, we recommend checking our selection of top dividend stocks. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-05-2025
- Automotive
- Yahoo
Senna: Revelations from the men who analysed the broken steering column
It is a quirk of Italian law that, if a fatality occurs, even on a race track, someone must be held responsible. The tragic deaths of Roland Ratzenberger and Ayrton Senna during the 1994 San Marino Grand Prix weekend resonated through the world and put Formula 1 under intense scrutiny. While Ratzenberger's accident was clearly caused by front-wing failure, Senna's became the object of frenzied speculation. As the FIA sought to find lessons from the fatalities that could be translated into effective safety improvements, the Italian legal machine swung into action and a criminal trial ensued. Advertisement Public prosecutor Maurizio Passerini's case focused on establishing that a shear in the steering column of Senna's FW16 caused him to spear off the circuit at the Tamburello corner and into the wall. Passerini appointed Professor Enrico Lorenzini, Dean of the Faculty of Engineering at the University of Bologna, as an expert. Lorenzini ordered the column to be analysed by two teams of specialists from different institutions so the results could be compared and correlated. One part of the investigation was entrusted to the Air Force's Research and Experimentation Division, based in Pratica di Mare, near Lazio, and the other to the Metallurgy Laboratory of Industrial Chemistry at the University of Bologna. Both teams used a SEM – Scanning Electron Microscope – the most advanced tool of the time. Thirty years later, managed to contact Gian Paolo Cammarota and Angelo Casagrande, the two professors from the University of Bologna who performed the analyses. They have remained friends and still occasionally see each other. Cammarota and Casagrande give their thoughts on what happened that fateful day Cammarota and Casagrande give their thoughts on what happened that fateful day Motorsport Images Motorsport Images Advertisement Cammarota, born in 1936 in Milan, now retired, divides his time between Bologna, Venice, and Germany. A slender, reserved man, he weighs every word carefully. While Cammarota's speciality was Industrial Chemistry, Casagrande, a Bolognese, is still part of the teaching staff in the Faculty of Metallurgy. 'We're phasing out the SEM now – more modern and advanced investigative systems exist – but the scanning electron microscope gave us clear, indisputable answers in the Senna case,' says Casagrande. In the original design of the Williams FW16, the steering column was a single-piece metal tube measuring 910.2mm in length, from the connection with the steering box to the steering wheel hub. At a distance of 685.5mm from the lower end (steering box), the column was attached to the chassis via an aluminium alloy support with a self-lubricating bushing made of Teflon-like material, leaving the remaining portion – 224.7mm long – as a cantilever. Advertisement Senna complained to the team of being uncomfortable in the cockpit: he wanted the steering column to be lowered, to improve his driving position because, when using his preferred steering wheel design his knuckles rubbed against the top of the chassis, with painful results. It wasn't a simple task because regulations required that, once the steering wheel was removed, there had to be enough clearance in the cockpit section for a 250mm x 250mm template to pass through, as per the 1994 FIA rules. To accommodate Senna's wishes, Adrian Newey – then Williams' chief designer – directed the drawing office to lower the steering column by 2mm. When this was found to snag the FIA template, the next best solution was to reduce the diameter of the column by 4mm in that area. 'Reducing the diameter of the tube was a major design mistake,' Cammarota says. 'The chemical and mechanical property analyses of the parts weren't consistent – they clearly showed the use of two different materials.' The modified column was divided into three parts, two made of T45 steel, with external diameters of 22.225mm and a wall thickness of 0.9mm, with an intermediate section of EN14 steel 18mm in external diameter and a wall thickness of 1.2mm. These parts were welded together. Senna was uncomfortable in his FW16, so modifications were made Senna was uncomfortable in his FW16, so modifications were made Motorsport Images Motorsport Images Advertisement Franco Nugnes: What tests did you perform? Gian Paolo Cammarota: We carried out a superficial metallographic analysis, then internal and external roughness tests, and a fractographic examination. The chemical analysis was entrusted to Cermet. In the expert report submitted to the court by Professor Lorenzini, it reads: 'In general terms, it must be said that the three-piece steering column is indicative of a poorly designed modification, as the thinness of the section precisely at the point of maximum stress, the abrupt change in cross-section with an excessively small fillet radius, and the scratches caused by the mechanical processes of drilling and turning all contribute to creating a structurally critical situation, with a consequent high risk of failure under static loads and dynamic fatigue. 'Incidentally, on the external and internal surfaces of the joint, immediately below the fracture surface, pronounced circumferential marks from machining tools can be observed, so the external and internal surfaces of the tube exhibit a surface finish unsuitable for components operating under fatigue in extreme experimental conditions.' Advertisement FN: Could human error have occurred during welding? GPC: I rule that out. I showed our images to Professor Horst Herold from the University of Magdeburg, a leading expert in the field, and he assured me that the welds were perfect. The problem lay entirely in the reduction of the tube's cross-section precisely at the point where the stress was at its maximum. FN: So why did the steering column fail? Angelo Casagrande: It was already damaged before the start of the grand prix. In short, there was a crack [in metallurgy, a thin and often deep fissure that precedes a break] that was progressing and had formed before the race in which Senna lost his life. The presence of oxidation didn't allow us to determine exactly when the fatigue phenomenon began, but it was enough for us to understand what had happened. Advertisement FN: In Formula 1, the best materials available are usually chosen – what could have gone wrong? AC: They made an unplanned modification. The dimensions of the shaft and the cantilever section were such that, even with a super-material, it might have lasted one more race at best. Then it would have failed if not replaced, because it couldn't withstand the stresses. There's no point blaming the material: that was an aggravating factor but, given the dimensions and the structural characteristics of the component, that metal couldn't have done much better. The engineering experts spent a week examining the remains of Senna's car The engineering experts spent a week examining the remains of Senna's car Rainer W. Schlegelmilch / Motorsport Images Rainer W. Schlegelmilch / Motorsport Images Advertisement FN: How long did you have the steering column for? GPC: Less than a week, then we returned it. Just enough time to perform the SEM exams. Engineer Danesi was always present during the analysis, representing Williams. At first, the British team didn't want to hear anything about fatigue, but we immediately saw the failure and had to assess how much of the tube had broken due to fatigue and how much due to tearing. FN: The investigation also included roughness tests... GPC: Roughness is the ratio between the base of a groove and the surface. If the value is high, you risk serious trouble. In aerospace, all surfaces must be polished to a mirror finish. There must be no striations that can concentrate stress and become the starting point for surface alterations when the fatigue threshold of the material is exceeded. Advertisement On our column, there was only partial polishing on the outside – it should have been mirror-finished – and inside, nothing had been done at all. The crack definitely started from the inside, probably already during practice. There were three sections in the tube: one showed fatigue; the middle section showed a mix of fatigue and ductile fracture, which is to be expected when the material is very tough; and in the third, the final section, there was clear evidence of a catastrophic fracture caused by the impact with the wall. FN: The team had removed layers of carbonfibre and cut part of the chassis covering. Did these interventions reduce the stiffness of the monocoque, and could they have contributed to initiating the steering column fractures? GPC: It's possible, but this issue wasn't addressed in the trial. There may have been an acceleration in the crack's propagation – we would need to know precisely when the crack began. Advertisement -- Newey's role was examined in the trial Newey's role was examined in the trial Rainer W. Schlegelmilch / Motorsport Images Rainer W. Schlegelmilch / Motorsport Images The criminal trial was wide-ranging, accusing Frank Williams, Patrick Head and Adrian Newey of manslaughter, and FIA official Roland Bruynseraede, race organiser Federico Bendinelli and Imola track manager Giorgio Poggi of culpable homicide. As it progressed, Passerini moved to drop the charges against Williams, Bruynseraede, Bendinelli and Poggi, focusing his attentions on Head and Newey. Once it had possession of the steering column and recognised the fatigue crack, Williams built a test rig to establish whether the column was strong enough to transmit steering inputs at the required torque for normal driving even in a weakened state. Its findings suggested this was the case. Advertisement The TV footage clearly showed the rear end of Senna's car stepping out just before his car left the track, which wasn't consistent with the prosecution's argument that the steering had failed and caused the car to go straight on. It was impossible to prove whether the failure was the cause or effect of the accident – so, rightly, Head and Newey were acquitted and a subsequent attempt to appeal the decision failed. The lessons of Imola not only informed the FIA's ongoing safety project, they affected the process of car design. Williams, for example, brought in a system whereby safety-critical components could be signed off for production only after the designs had been counter-signed by an experienced stress engineer. 'Regardless of whether that steering column caused the accident or not,' wrote Newey in his autobiography, 'there is no escaping the fact that it was a bad piece of design that should never have been allowed to get on the car.' To read more articles visit our website.
See - Sada Elbalad
17-03-2025
- Politics
- See - Sada Elbalad
Switzerland Revokes 30,000 Ukrainian Refugee Permits
Israa Farhan Switzerland has revoked the temporary protection status of more than 30,000 Ukrainian refugees since February 2022, according to the State Secretariat for Migration (SEM). Currently, around 68,000 Ukrainians still benefit from this protection. The SEM explained in a statement on X that the special protection system grants "S status," which includes the right to work, access to insurance, education for children, freedom of movement in and out of the country, and family reunification. The latest figures show that 68,254 individuals currently hold S status, reflecting an increase of 133 from March 3, 2025. Meanwhile, 30,918 people have had their status revoked, an increase of 199 in the same period. In December 2024, the Swiss National Council, the country's lower parliamentary chamber, tightened the criteria for granting S status to Ukrainian refugees. Under the revised policy, only individuals arriving from active war zones or areas outside Kyiv's control are eligible for protection. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) News Ireland Replaces Former Israeli Embassy with Palestinian Museum News Israeli PM Diagnosed with Stage 3 Prostate Cancer Lifestyle Maguy Farah Reveals 2025 Expectations for Pisces News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
