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National Health Investors (NHI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 10, 2026
National Health Investors (NHI) reported revenue of $121M for the second quarter 2026 (Q2 2026), +34% from a year earlier and +5% from the quarter before. Operating margin was 46.2%, net earnings $55.7M (45.9% of revenue).
National Health Investors, Q2 2026: revenue $121M (+34% year over year), operating margin 46.2%, net earnings $55.7M, operating cash flow $65.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $121M | +5% | +34% |
| Operating profit | $56.1M | +41% | +53% |
| Net earnings | $55.7M | +39% | +51% |
| Operating cash flow | $65.0M | +22% | +9% |
What changed
Revenue was $121.3M in Q2 2026, up 34% year over year and up 5% from the previous quarter.
Operating profit was $56.1M, a 46.2% margin (up 5.8 points year over year). Of the extra revenue versus Q2 2025, 63% reached operating profit, above the 40% margin then. Total costs grew 21% against revenue growth of 34%. The fastest-growing cost line was General & admin (+44%). Net earnings were $55.7M, up 51% year over year ($55.4M including minority interests, which bore $314K of losses). The effective tax rate was 1.3%.
Operating cash flow was $65.0M (up 9% year over year), 117% of net earnings. Non-cash charges added back $25.5M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items used $18.3M.
Questions
What was National Health Investors' revenue in the second quarter 2026?
National Health Investors (NHI) reported revenue of $121M for the second quarter 2026 (Q2 2026), +34% from a year earlier and +5% from the quarter before.
Was National Health Investors profitable in the second quarter 2026?
Operating profit was $56.1M (46.2% of revenue) and net earnings $55.7M.