Encompass Health Corporation, the largest owner and operator of inpatient rehabilitation hospitals in the United States, has reported its financial results for the second quarter of 2025. The company achieved a net operating revenue of $1.4577 billion, marking a 12.0% increase from $1.3012 billion in the same period of the previous year. This growth was driven by an increase in discharges and pricing, with total discharges rising by 7.2% and net patient revenue per discharge increasing by 4.2%. Income from continuing operations attributable to Encompass Health per diluted share rose to $1.40, up from $1.13, representing a 23.9% increase. Adjusted earnings per share also climbed by 26.1%, reaching $1.40 from $1.11. Additionally, cash flows provided by operating activities increased to $270.2 million, a 24.3% rise from $217.4 million in Q2 2024. Encompass Health has also updated its full-year 2025 guidance. The company now expects net operating revenue to range between $5.880 billion and $5.980 billion, revised from the previous guidance of $5.850 billion to $5.925 billion. Adjusted EBITDA is projected to be between $1.220 billion and $1.250 billion, and adjusted earnings per share from continuing operations are anticipated to be between $5.12 and $5.34.