CARES Act income helped boost NHC’s 2020 earnings by more than 3% compared to the year prior

National HealthCare Corp. announced Friday that its net operating revenues and Coronavirus Aid, Relief, and Economic Security (CARES) Act income for the year 2020 totaled $1.03 billion compared with $996 million in 2019, an increase of 3.2%.

If not for funding received through CARES Act Provider Relief Funds to help offset COVID-19 expenses, however, net operating revenues would have decreased 4.2% compared with 2019. For the year, the firm reported profit of $41.9 million, or $2.72 per share. 

The Murfreesboro, TN-based skilled nursing and assisted living operator also reported a fourth-quarter profit of $27.6 million. Earnings, adjusted for one-time gains and costs, were 90 cents per share. The firm posted revenue of $259.8 million in the period.