UHS 8-K
Universal Health Services Inc (UHS)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
|
|
|||
(State or other jurisdiction of |
|
(Commission |
|
(I.R.S. Employer |
Incorporation or Organization) |
|
File Number) |
|
Identification No.) |
(Address of principal executive office) (Zip Code)
Registrant’s telephone number, including area code
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02 Results of Operations and Financial Condition.
On July 27, 2026, Universal Health Services, Inc. issued the press release attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
|
|
|
99.1 |
|
Universal Health Services, Inc., press release, dated July 27, 2026 |
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
Exhibit Index
Exhibit No. |
|
Exhibit |
|
|
|
99.1 |
|
Universal Health Services, Inc., press release, dated July 27, 2026. |
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Universal Health Services, Inc. |
||
|
||
By: |
|
/s/ Steve Filton |
Name: Steve Filton |
||
Title: Executive Vice President and Chief Financial Officer |
||
Date: July 28, 2026
Exhibit 99.1
FOR IMMEDIATE RELEASE
July 27, 2026
CONTACT: |
Darren Lehrich |
|
Vice President-Investor Relations |
|
610-382-3310 |
|
UNIVERSAL HEALTH SERVICES, INC.
ANNOUNCES FINANCIAL RESULTS FOR THE
THREE AND SIX-MONTH PERIODS ENDED JUNE 30, 2026, AND REVISES 2026 FULL YEAR OPERATING RESULTS FORECAST
Consolidated Results of Operations, As Reported and As Adjusted – Three-month periods ended June 30, 2026 and 2025:
KING OF PRUSSIA, PA – Universal Health Services, Inc. (NYSE: UHS) announced today that its reported net income attributable to UHS was $358.4 million, or $5.98 per diluted share, during the second quarter of 2026, as compared to $353.2 million, or $5.43 per diluted share, during the second quarter of 2025. Net revenues increased by 8.3% to $4.638 billion during the second quarter of 2026, as compared to $4.284 billion during the second quarter of 2025.
Included in our operating results during the second quarter of 2026, was a favorable net pre-tax impact of approximately $72 million recorded in connection with the following: (i) a favorable net pre-tax impact of $100 million (net of related provider taxes) recorded in connection with the Florida Medicaid managed care directed payment program applicable to the period of October 1, 2024 through September 30, 2025 (pursuant to the Centers for Medicare and Medicaid Services’ (“CMS”) preprint approval granted in April, 2026 which increased the size of the program and changed the related provider tax structure), and; (ii) an unfavorable pre-tax impact of $28 million resulting from an increase to our reserve for self-insured professional and general liability claims. The impact of these items was not included in our original 2026 operating results forecast, as previously disclosed on February 25, 2026.
Included in our operating results during the second quarter of 2025, were aggregate net pre-tax incremental reimbursements (net of related provider taxes) of approximately $101 million recorded in connection with the following: (i) approximately $58 million, applicable to the period of July 1, 2024 through June 30, 2025, resulting from the Tennessee Medicaid directed payment program, and; (ii) approximately $43 million of other combined additional net reimbursements recorded in connection with supplemental Medicaid programs in various states (approximately $21 million of which consisted of prior year retroactive reimbursements). Also included in our results of operations during the second quarter of 2025, was a pre-tax loss of approximately $25 million incurred in connection with a newly constructed, 142-bed acute care hospital located in Washington, D.C., that was completed and opened in April, 2025.
As reflected on the Schedule of Non-GAAP Supplemental Information (“Supplemental Schedule”), there were no adjustments applicable to our operating results during the second quarter of 2026. As reflected on the Supplemental Schedule, included in our reported results during the second quarter of 2025 were: (i) an unrealized after-tax gain of $4.5 million, or $.07 per diluted share ($5.9 million pre-tax), resulting from an increase in the market value of certain equity securities that were sold during the fourth quarter of 2025 (included in “Other (income) expense, net”), and; (ii) a favorable net after-tax impact of $0.8 million, or $.01 per diluted share, resulting from the net tax benefit recorded in connection with “ASU 2016-09”, Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting, net of the impact of executive compensation limitations pursuant to IRC section 162(m). After giving effect to these items, our adjusted net income during the second quarter of 2025 was $347.9 million, or $5.35 per diluted share.
As calculated on the attached Supplemental Schedule, our earnings before interest, taxes, depreciation & amortization (“EBITDA net of NCI”, NCI is net income attributable to noncontrolling interests), was $680.2
million during the second quarter of 2026, as compared to $651.4 million during the second quarter of 2025. Our adjusted earnings before interest, taxes, depreciation & amortization (“Adjusted EBITDA net of NCI”), which excludes the impact of other (income) expense, net, was $677.9 million during the second quarter of 2026, as compared to $642.9 million during the second quarter of 2025.
Consolidated Results of Operations, As Reported and As Adjusted – Six-month periods ended June 30, 2026 and 2025:
Reported net income attributable to UHS was $707.1 million, or $11.63 per diluted share, during the first six months of 2026, as compared to $669.9 million, or $10.23 per diluted share, during the comparable period of 2025. Net revenues increased by 8.9% to $9.133 billion during the first six months of 2026, as compared to $8.384 billion during the comparable period of 2025.
As reflected on the Supplemental Schedule, our adjusted net income during the first six months of 2026 was $705.0 million, or $11.60 per diluted share, as compared to $667.4 million, or $10.19 per diluted share, during the comparable period of 2025.
As reflected on the Supplemental Schedule, included in our reported results during the first six months of 2026 was a favorable net after-tax impact of $2.2 million, or $.03 per diluted share, resulting from the net tax benefit recorded in connection with ASU 2016-09. Included in our reported results during the first six months of 2025 were: (i) an unrealized after-tax gain of $1.2 million, or $.02 per diluted share ($1.6 million pre-tax), resulting from an increase in the market value of certain equity securities that were sold during the fourth quarter of 2025, and; (ii) a favorable net after-tax impact of $1.3 million, or $.02 per diluted share, resulting from the net tax benefit recorded in connection with ASU 2016-09.
As calculated on the attached Supplemental Schedule, our EBITDA net of NCI, was $1.332 billion during the first six months of 2026, as compared to $1.255 billion during the comparable period of 2025. Our Adjusted EBITDA net of NCI”, which excludes the impact of other (income) expense, net, was $1.326 billion during the first six months of 2026, as compared to $1.241 billion during the comparable period of 2025.
Acute Care Services – Three and six-month periods ended June 30, 2026 and 2025:
During the second quarter of 2026, at our acute care hospitals owned during both periods (“same facility basis”), adjusted admissions (adjusted for outpatient activity) increased by 2.9% and adjusted patient days increased by 3.1%, as compared to the second quarter of 2025. At these facilities, during the second quarter of 2026, net revenue per adjusted admission increased by 3.0% while net revenue per adjusted patient day increased by 2.8%, as compared to the second quarter of 2025. Net revenues generated from our acute care services, on a same facility basis, increased by 8.2% during the second quarter of 2026, as compared to the second quarter of 2025.
During the first six months of 2026, on a same facility basis, adjusted admissions increased by 1.4% and adjusted patient days increased by 1.9%, as compared to the comparable period of 2025. At these facilities, during the first six months of 2026, net revenue per adjusted admission increased by 4.6% while net revenue per adjusted patient day increased by 4.2%, as compared to the comparable period of 2025. Net revenues generated from our acute care services, on a same facility basis, increased by 8.2% during the first six months of 2026, as compared to the comparable period of 2025.
Behavioral Health Care Services – Three and six-month periods ended June 30, 2026 and 2025:
During the second quarter of 2026, at our behavioral health care facilities on a same facility basis, adjusted admissions increased by 0.5% while adjusted patient days increased by 1.4%, as compared to the second quarter of 2025. At these facilities, during the second quarter of 2026, net revenue per adjusted admission increased by 7.1% and net revenue per adjusted patient day increased by 6.1%, as compared to the second quarter of 2025. Net revenues generated from our behavioral health care services, on a same facility basis, increased by 7.4% during the second quarter of 2026, as compared to the second quarter of 2025.
During the first six months of 2026, at our behavioral health care facilities on a same facility basis, adjusted admissions increased by 0.9% while adjusted patient days increased by 1.5%, as compared to the comparable period of 2025. At these facilities, during the first six months of 2026, net revenue per adjusted admission increased by 6.6% and net revenue per adjusted patient day increased by 6.0%, as compared to the
comparable period of 2025. Net revenues generated from our behavioral health care services, on a same facility basis, increased by 7.4% during the first six months of 2026, as compared to the comparable period of 2025.
Net Cash Provided by Operating Activities and Credit Agreement Amendment/Capital Resources:
Net Cash Provided by Operating Activities:
During the six-month period ended June 30, 2026, our net cash provided by operating activities was $845 million as compared to $909 million during the first six months of 2025. The $64 million net decrease in our net cash provided by operating activities consisted of: (i) an unfavorable change of $207 million in other working capital accounts due primarily to the timing of accounts payable disbursements; (ii) a favorable change of $86 million in accrued and deferred income taxes; (iii) a favorable change of $53 million resulting from an increase in net income plus/minus depreciation and amortization expense, stock-based compensation expense and gain on sales of assets and businesses; (iv) a favorable change of $47 million in accrued insurance expense, net of payments made in settlement of self-insured claims; (v) an unfavorable change of $45 million in accounts receivable, and; (vi) other combined net favorable changes of $2 million.
Credit Agreement Amendment/Capital Resources:
As of June 30, 2026, pursuant to the terms of our $1.5 billion revolving credit facility, we had $1.272 billion of available borrowing capacity, net of outstanding borrowings ($225 million) and letters of credit. Also as of June 30, 2026, as part of our credit agreement, we had $400 million of borrowing capacity pursuant to a delayed draw term loan A which is expected to be drawn upon the closing of our acquisition of Talkspace, Inc. (expected to be finalized during the third quarter of 2026). The maturity date for our $1.5 billion revolving credit facility and our $400 million delayed draw term loan A is September 26, 2029.
In July, 2026, and as previously disclosed on Form 8-K as filed with the Securities and Exchange Commission on July 21, 2026, we amended our credit agreement to add a new $700 million delayed draw term loan A which, if we elect to utilize, would be funded on or prior to September 30, 2026, with a maturity date 364 days after the initial funding. Potential future borrowings pursuant to this facility would be used for general corporate purposes, including, should we elect, repayment at maturity of our $700 million, 1.650% Senior Secured Notes due on September 1, 2026.
Stock Repurchase Program:
In connection with our stock repurchase program, shares of our Class B Common Stock may be repurchased, from time to time as conditions allow, on the open market or in negotiated private transactions.
Pursuant to this program, during the second quarter of 2026, we have repurchased 1.890 million shares at an aggregate cost of approximately $320.3 million (average price of approximately $169 per share). During the first six months of 2026, we have repurchased 2.565 million shares at an aggregate cost of approximately $447.5 million (average price of approximately $174 per share).
As of June 30, 2026, we had an aggregate available repurchase authorization of approximately $977.6 million pursuant to our stock repurchase program.
Revised 2026 Operating Results Forecast:
Based upon the operating trends, changes in reimbursements related to certain Medicaid supplemental payment programs and financial results experienced during the first six months of 2026, as indicated on the Revised Forecast table below, we are revising our operating results forecast range for consolidated net revenues; adjusted earnings before interest, taxes, depreciation & amortization, and the impacts of other income/expense and net income attributable to noncontrolling interests (“Adjusted EBITDA, net of NCI”), and adjusted net income attributable to UHS per diluted share (“Adjusted EPS-diluted”) for the year ended December 31, 2026.
As discussed above, our operating results for the three and six-month periods ended June 30, 2026 included a favorable net pre-tax impact of $100 million (net of related provider taxes) recorded in connection with the Florida Medicaid managed care directed payment program applicable to the period of October 1, 2024 through September 30, 2025. Since CMS has not yet approved the increased size of this program for periods beyond September 30, 2025, no incremental benefit related to this program has been included in our revised
2026 operating results forecast beyond amounts included in our operating results during the three and six-month periods ended June 30, 2026.
Our revised 2026 forecasted range of adjusted net income attributable to UHS, and adjusted EPS-diluted, exclude certain items as described below because we do not believe we can forecast those items with sufficient accuracy. Adjusted EBITDA net of NCI, is a non-GAAP financial measure and should not be considered a measure of financial performance under GAAP. We believe Adjusted EBITDA net of NCI is helpful to our investors as a measure of our operating performance. Please see the Supplemental Non-GAAP Disclosures – Revised 2026 Operating Results Forecast schedule as included herein for additional information and a reconciliation of our revised 2026 forecasted range of adjusted net income attributable to UHS to our revised 2026 forecasted range of Adjusted EBITDA net of NCI.
The tables below include our full year revised 2026 operating results forecast, as well as our original 2026 operating results forecast which was previously disclosed on February 25, 2026.
|
Revised Forecast |
|
Original Forecast |
||
|
For the Year Ended |
|
For the Year Ended |
||
|
December 31, 2026 |
|
December 31, 2026 |
||
|
Low |
High |
|
Low |
High |
Net revenues |
$18.501 billion |
$18.762 billion |
|
$18.417 billion |
$18.789 billion |
Adjusted EBITDA, net of NCI |
$2.610 billion |
$2.717 billion |
|
$2.641 billion |
$2.789 billion |
Adjusted EPS – diluted |
$22.28 per share |
$23.65 per share |
|
$22.64 per share |
$24.52 per share |
Because we do not believe we can forecast certain items with sufficient accuracy, our revised 2026 forecasted range of Adjusted EBITDA net of NCI, net income attributable to UHS, and Adjusted EPS-diluted, exclude the impact of future items, if applicable, that are nonrecurring or non-operational in nature including items such as changes in the value of certain non-marketable securities (in connection with our minority ownership in a healthcare generative artificial intelligence company), the impact of ASU 2016-09, and other potential material items that are nonrecurring or non-operational in nature including, but not limited to, impairments of goodwill, long-lived and intangible assets, reserves for various matters including settlements, legal judgments and lawsuits, costs related to extinguishment of debt, gains/losses on sales of assets and businesses, potential impacts of non-ordinary acquisitions, divestitures, joint ventures or other strategic transactions, other amounts that may be reflected in the current or prior year financial statements that relate to prior periods, and the impact of share repurchases that differ from our forecasted assumptions. It is also subject to certain conditions including those as set forth below in General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures.
Conference call information:
We will hold a conference call for investors and analysts at 9:00 a.m. eastern time on July 28, 2026. A live webcast of the call will be available on our website at www.uhs.com. To participate via telephone, please register in advance at this link. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and
registrant ID that can be used to access the call. Supplemental financial disclosures related to our financial results are available on our website.
General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures:
Headquartered in King of Prussia, PA, UHS is one of the nation’s largest and most respected providers of hospital and healthcare services, with annual revenues of approximately $17.4 billion during 2025. Through its subsidiaries, UHS employs more than 102,000 employees and, as of June 30, 2026, operated 30 inpatient acute care facilities, 346 inpatient behavioral health facilities and approximately 170 outpatient and other facilities, an insurance offering, a physician network and various related services located in 40 states, Washington, D.C., Puerto Rico and the United Kingdom. Since our founding in 1979, UHS has grown steadily into a premier Fortune 500® corporation perennially recognized by multiple esteemed national rating entities. Our strategy includes investing in talented staff, facilities, technology and innovation across broad care continuums to deliver favorable patient outcomes and contribute to the overall health and wellbeing of the patients we are privileged to serve. A wholly-owned subsidiary of UHS also acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE: UHT). For additional information, please visit www.uhs.com.
This press release contains forward-looking statements based on current management expectations. Numerous factors, including those disclosed herein, those related to healthcare industry trends and those detailed in our filings with the Securities and Exchange Commission (as set forth in Item 2-Forward Looking Statements and Risk Factors in our Form 10-Q for the quarter ended March 31, 2026 and in Item 1A-Risk Factors, and Item 7-Forward-Looking Statements and Risk Factors, in our Form 10-K for the year ended December 31, 2025), may cause the results to differ materially from those anticipated in the forward-looking statements. These statements are subject to risks and uncertainties and therefore actual results may differ materially. Readers should not place undue reliance on such forward-looking statements which reflect management’s view only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Many of the factors that could affect our future results are beyond our control or ability to predict, including, but not limited to:
We believe that adjusted net income attributable to UHS, adjusted net income attributable to UHS per diluted share, EBITDA net of NCI and Adjusted EBITDA net of NCI, which are non-GAAP financial measures (“GAAP” is Generally Accepted Accounting Principles in the United States of America), are helpful to our investors as measures of our operating performance. In addition, we believe that, when applicable, comparing and discussing our financial results based on these measures, as calculated, is helpful to our investors since it neutralizes the effect of material items impacting our net income attributable to UHS, such as, changes in the value of certain non-marketable securities (in connection with our minority ownership in a healthcare generative artificial intelligence company), the impact of ASU 2016-09, and other potential material items that are nonrecurring or non-operational in nature including, but not limited to, impairments of goodwill, long-lived and intangible assets, reserves for various matters including settlements, legal judgments and lawsuits, costs related to extinguishment of debt, gains/losses on sales of assets and businesses, potential impacts of non-ordinary acquisitions, divestitures, joint ventures or other strategic transactions, and other amounts that may be reflected in the current or prior year financial statements that relate to prior periods. To obtain a complete understanding of our financial performance these measures should be examined in connection with net income attributable to UHS, as determined in accordance with GAAP, and as presented in the condensed consolidated financial statements and notes thereto in this report or in our filings with the Securities and Exchange Commission including our Report on Form 10-Q for the quarter ended March 31, 2026 and our Report on Form 10-K for the year ended December 31, 2025. Since the items included or excluded from these measures are significant components in understanding and assessing financial performance under GAAP, these measures should not be considered to be alternatives to net income as a measure of our operating performance or profitability. Since these measures, as presented, are not determined in accordance with GAAP and are thus susceptible to varying calculations, they may not be comparable to other similarly titled measures of other companies. Investors are encouraged to use GAAP measures when evaluating our financial performance.
(more)
Universal Health Services, Inc. |
|
|||||||||||||||
Consolidated Statements of Income |
|
|||||||||||||||
(in thousands, except per share amounts) |
|
|||||||||||||||
(unaudited) |
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three months |
|
|
Six months |
|
||||||||||
|
|
ended June 30, |
|
|
ended June 30, |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Net revenues |
|
$ |
4,638,012 |
|
|
$ |
4,283,816 |
|
|
$ |
9,133,194 |
|
|
$ |
8,383,536 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Operating charges: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Salaries, wages and benefits |
|
|
2,140,309 |
|
|
|
2,014,951 |
|
|
|
4,228,538 |
|
|
|
3,966,055 |
|
Other operating expenses |
|
|
1,351,958 |
|
|
|
1,162,566 |
|
|
|
2,635,886 |
|
|
|
2,268,318 |
|
Supplies expense |
|
|
423,257 |
|
|
|
418,785 |
|
|
|
849,800 |
|
|
|
821,666 |
|
Depreciation and amortization |
|
|
167,338 |
|
|
|
152,004 |
|
|
|
322,764 |
|
|
|
300,349 |
|
Lease and rental expense |
|
|
38,475 |
|
|
|
35,240 |
|
|
|
76,671 |
|
|
|
72,053 |
|
|
|
|
4,121,337 |
|
|
|
3,783,546 |
|
|
|
8,113,659 |
|
|
|
7,428,441 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Income from operations |
|
|
516,675 |
|
|
|
500,270 |
|
|
|
1,019,535 |
|
|
|
955,095 |
|
Interest expense, net |
|
|
39,912 |
|
|
|
35,364 |
|
|
|
77,045 |
|
|
|
75,420 |
|
Other (income) expense, net |
|
|
(2,363 |
) |
|
|
(8,479 |
) |
|
|
(5,752 |
) |
|
|
(14,138 |
) |
Income before income taxes |
|
|
479,126 |
|
|
|
473,385 |
|
|
|
948,242 |
|
|
|
893,813 |
|
Provision for income taxes |
|
|
114,536 |
|
|
|
110,773 |
|
|
|
224,974 |
|
|
|
209,573 |
|
Net income |
|
|
364,590 |
|
|
|
362,612 |
|
|
|
723,268 |
|
|
|
684,240 |
|
Less: Net income (loss) attributable to noncontrolling interests ("NCI") |
|
|
6,143 |
|
|
|
9,394 |
|
|
|
16,139 |
|
|
|
14,342 |
|
Net income attributable to UHS |
|
$ |
358,447 |
|
|
$ |
353,218 |
|
|
$ |
707,129 |
|
|
$ |
669,898 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic earnings per share attributable to UHS (a) |
|
$ |
6.01 |
|
|
$ |
5.49 |
|
|
$ |
11.71 |
|
|
$ |
10.36 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diluted earnings per share attributable to UHS (a) |
|
$ |
5.98 |
|
|
$ |
5.43 |
|
|
$ |
11.63 |
|
|
$ |
10.23 |
|
Universal Health Services, Inc. |
|
|||||||||||||||
Footnotes to Consolidated Statements of Income |
|
|||||||||||||||
(in thousands, except per share amounts) |
|
|||||||||||||||
(unaudited) |
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three months |
|
|
Six months |
|
||||||||||
|
|
ended June 30, |
|
|
ended June 30, |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
(a) Earnings per share calculation: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic and diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income attributable to UHS - basic and diluted |
|
$ |
358,447 |
|
|
$ |
353,218 |
|
|
$ |
707,129 |
|
|
$ |
669,898 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted average number of common shares - basic |
|
|
59,657 |
|
|
|
64,356 |
|
|
|
60,364 |
|
|
|
64,663 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic earnings per share attributable to UHS: |
|
$ |
6.01 |
|
|
$ |
5.49 |
|
|
$ |
11.71 |
|
|
$ |
10.36 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted average number of common shares |
|
|
59,657 |
|
|
|
64,356 |
|
|
|
60,364 |
|
|
|
64,663 |
|
Add: Other share equivalents |
|
|
253 |
|
|
|
635 |
|
|
|
425 |
|
|
|
851 |
|
Weighted average number of common shares and equiv. - diluted |
|
|
59,910 |
|
|
|
64,991 |
|
|
|
60,789 |
|
|
|
65,514 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diluted earnings per share attributable to UHS: |
|
$ |
5.98 |
|
|
$ |
5.43 |
|
|
$ |
11.63 |
|
|
$ |
10.23 |
|
Universal Health Services, Inc. |
|
||||||||||||||
Schedule of Non-GAAP Supplemental Information ("Supplemental Schedule") |
|
||||||||||||||
For the Three Months ended June 30, 2026 and 2025 |
|
||||||||||||||
(in thousands, except per share amounts) |
|
||||||||||||||
(unaudited) |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
||||||||||||||
Calculation of Earnings/Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA/Adjusted EBITDA net of NCI") |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Three months ended |
|
|
% Net |
|
|
Three months ended |
|
|
% Net |
|
||||
|
June 30, 2026 |
|
|
revenues |
|
|
June 30, 2025 |
|
|
revenues |
|
||||
Net income attributable to UHS |
$ |
358,447 |
|
|
|
|
|
$ |
353,218 |
|
|
|
|
||
Depreciation and amortization |
|
167,338 |
|
|
|
|
|
|
152,004 |
|
|
|
|
||
Interest expense, net |
|
39,912 |
|
|
|
|
|
|
35,364 |
|
|
|
|
||
Provision for income taxes |
|
114,536 |
|
|
|
|
|
|
110,773 |
|
|
|
|
||
EBITDA net of NCI |
$ |
680,233 |
|
|
|
14.7 |
% |
|
$ |
651,359 |
|
|
|
15.2 |
% |
Other (income) expense, net |
|
(2,363 |
) |
|
|
|
|
|
(8,479 |
) |
|
|
|
||
Adjusted EBITDA net of NCI |
$ |
677,870 |
|
|
|
14.6 |
% |
|
$ |
642,880 |
|
|
|
15.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net revenues |
$ |
4,638,012 |
|
|
|
|
|
$ |
4,283,816 |
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
||||
Calculation of Adjusted Net Income Attributable to UHS |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Three months ended |
|
|
Three months ended |
|
||||||||||
|
June 30, 2026 |
|
|
June 30, 2025 |
|
||||||||||
|
|
|
|
Per |
|
|
|
|
|
Per |
|
||||
|
Amount |
|
|
Diluted Share |
|
|
Amount |
|
|
Diluted Share |
|
||||
Net income attributable to UHS |
$ |
358,447 |
|
|
$ |
5.98 |
|
|
$ |
353,218 |
|
|
$ |
5.43 |
|
Plus/minus after-tax adjustments: |
|
|
|
|
|
|
|
|
|
|
|
||||
Unrealized gain on equity securities |
|
- |
|
|
|
- |
|
|
|
(4,534 |
) |
|
|
(0.07 |
) |
Impact of ASU 2016-09, net |
|
- |
|
|
|
- |
|
|
|
(796 |
) |
|
|
(0.01 |
) |
Subtotal adjustments |
|
- |
|
|
|
- |
|
|
|
(5,330 |
) |
|
|
(0.08 |
) |
Adjusted net income |
$ |
358,447 |
|
|
$ |
5.98 |
|
|
$ |
347,888 |
|
|
$ |
5.35 |
|
Universal Health Services, Inc. |
|
||||||||||||||
Schedule of Non-GAAP Supplemental Information ("Supplemental Schedule") |
|
||||||||||||||
For the Six Months ended June 30, 2026 and 2025 |
|
||||||||||||||
(in thousands, except per share amounts) |
|
||||||||||||||
(unaudited) |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
||||||||||||||
Calculation of Earnings/Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA/Adjusted EBITDA net of NCI") |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Six months ended |
|
|
% Net |
|
|
Six months ended |
|
|
% Net |
|
||||
|
June 30, 2026 |
|
|
revenues |
|
|
June 30, 2025 |
|
|
revenues |
|
||||
Net income attributable to UHS |
$ |
707,129 |
|
|
|
|
|
$ |
669,898 |
|
|
|
|
||
Depreciation and amortization |
|
322,764 |
|
|
|
|
|
|
300,349 |
|
|
|
|
||
Interest expense, net |
|
77,045 |
|
|
|
|
|
|
75,420 |
|
|
|
|
||
Provision for income taxes |
|
224,974 |
|
|
|
|
|
|
209,573 |
|
|
|
|
||
EBITDA net of NCI |
$ |
1,331,912 |
|
|
|
14.6 |
% |
|
$ |
1,255,240 |
|
|
|
15.0 |
% |
Other (income) expense, net |
|
(5,752 |
) |
|
|
|
|
|
(14,138 |
) |
|
|
|
||
Adjusted EBITDA net of NCI |
$ |
1,326,160 |
|
|
|
14.5 |
% |
|
$ |
1,241,102 |
|
|
|
14.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net revenues |
$ |
9,133,194 |
|
|
|
|
|
$ |
8,383,536 |
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
||||
Calculation of Adjusted Net Income Attributable to UHS |
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Six months ended |
|
|
Six months ended |
|
||||||||||
|
June 30, 2026 |
|
|
June 30, 2025 |
|
||||||||||
|
|
|
|
Per |
|
|
|
|
|
Per |
|
||||
|
Amount |
|
|
Diluted Share |
|
|
Amount |
|
|
Diluted Share |
|
||||
Net income attributable to UHS |
$ |
707,129 |
|
|
$ |
11.63 |
|
|
$ |
669,898 |
|
|
$ |
10.23 |
|
Plus/minus after-tax adjustments: |
|
|
|
|
|
|
|
|
|
|
|
||||
Unrealized gain on equity securities |
|
- |
|
|
|
- |
|
|
|
(1,249 |
) |
|
|
(0.02 |
) |
Impact of ASU 2016-09, net |
|
(2,164 |
) |
|
|
(0.03 |
) |
|
|
(1,257 |
) |
|
|
(0.02 |
) |
Subtotal adjustments |
$ |
(2,164 |
) |
|
|
(0.03 |
) |
|
$ |
(2,506 |
) |
|
|
(0.04 |
) |
Adjusted net income attributable to UHS |
$ |
704,965 |
|
|
$ |
11.60 |
|
|
$ |
667,392 |
|
|
$ |
10.19 |
|
Universal Health Services, Inc. |
|
|||||||
Condensed Consolidated Balance Sheets |
|
|||||||
(in thousands) |
|
|||||||
(unaudited) |
|
|||||||
|
|
|
|
|
|
|
||
|
|
June 30, |
|
|
December 31, |
|
||
|
|
2026 |
|
|
2025 |
|
||
Assets |
|
|
|
|
|
|
||
Current assets: |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
138,800 |
|
|
$ |
137,797 |
|
Accounts receivable, net |
|
|
2,801,108 |
|
|
|
2,602,434 |
|
Supplies |
|
|
234,094 |
|
|
|
232,110 |
|
Other current assets |
|
|
505,323 |
|
|
|
435,574 |
|
Total current assets |
|
|
3,679,325 |
|
|
|
3,407,915 |
|
|
|
|
|
|
|
|
||
Property and equipment |
|
|
13,830,293 |
|
|
|
13,489,811 |
|
Less: accumulated depreciation |
|
|
(6,687,668 |
) |
|
|
(6,481,714 |
) |
|
|
|
7,142,625 |
|
|
|
7,008,097 |
|
Other assets: |
|
|
|
|
|
|
||
Goodwill |
|
|
3,981,713 |
|
|
|
3,990,213 |
|
Deferred income taxes |
|
|
63,719 |
|
|
|
70,517 |
|
Right of use assets-operating leases |
|
|
365,758 |
|
|
|
374,239 |
|
Deferred charges |
|
|
9,908 |
|
|
|
9,272 |
|
Other |
|
|
692,438 |
|
|
|
667,340 |
|
Total Assets |
|
$ |
15,935,486 |
|
|
$ |
15,527,593 |
|
|
|
|
|
|
|
|
||
Liabilities and Stockholders' Equity |
|
|
|
|
|
|
||
Current liabilities: |
|
|
|
|
|
|
||
Current maturities of long-term debt |
|
$ |
771,910 |
|
|
$ |
748,158 |
|
Accounts payable and other liabilities |
|
|
2,451,182 |
|
|
|
2,416,276 |
|
Operating lease liabilities |
|
|
70,861 |
|
|
|
73,237 |
|
Federal and state taxes |
|
|
3,703 |
|
|
|
1,930 |
|
Total current liabilities |
|
|
3,297,656 |
|
|
|
3,239,601 |
|
|
|
|
|
|
|
|
||
Other noncurrent liabilities |
|
|
559,955 |
|
|
|
527,827 |
|
Operating lease liabilities noncurrent |
|
|
339,467 |
|
|
|
340,715 |
|
Deferred income taxes |
|
|
3,233 |
|
|
|
5,649 |
|
Long-term debt |
|
|
4,079,937 |
|
|
|
4,004,393 |
|
|
|
|
|
|
|
|
||
Redeemable noncontrolling interest |
|
|
73,603 |
|
|
|
70,620 |
|
|
|
|
|
|
|
|
||
UHS common stockholders' equity |
|
|
7,513,812 |
|
|
|
7,275,792 |
|
Noncontrolling interest |
|
|
67,823 |
|
|
|
62,996 |
|
Total equity |
|
|
7,581,635 |
|
|
|
7,338,788 |
|
|
|
|
|
|
|
|
||
Total Liabilities and Stockholders' Equity |
|
$ |
15,935,486 |
|
|
$ |
15,527,593 |
|
Universal Health Services, Inc. |
|
||||||
Consolidated Statements of Cash Flows |
|
||||||
(in thousands) |
|
||||||
(unaudited) |
|
||||||
|
Six months |
|
|||||
|
ended June 30, |
|
|||||
|
2026 |
|
|
2025 |
|
||
Cash Flows from Operating Activities: |
|
|
|
|
|
||
Net income |
$ |
723,268 |
|
|
$ |
684,240 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
||
Depreciation & amortization |
|
322,764 |
|
|
|
300,349 |
|
Stock-based compensation expense |
|
45,413 |
|
|
|
45,707 |
|
(Gain) loss on sales of assets and businesses |
|
(5,578 |
) |
|
|
2,833 |
|
Changes in assets & liabilities, net of effects from acquisitions and dispositions: |
|
|
|
|
|
||
Accounts receivable |
|
(137,907 |
) |
|
|
(92,636 |
) |
Accrued interest |
|
(29 |
) |
|
|
(4,532 |
) |
Accrued and deferred income taxes |
|
29,759 |
|
|
|
(55,913 |
) |
Other working capital accounts |
|
(182,146 |
) |
|
|
25,324 |
|
Other assets and deferred charges |
|
(18,466 |
) |
|
|
(22,404 |
) |
Other, net |
|
10,753 |
|
|
|
16,143 |
|
Accrued insurance expense, net of commercial premiums paid |
|
157,435 |
|
|
|
94,696 |
|
Payments made in settlement of self-insurance claims, net of commercial insurance reimbursements |
|
(100,335 |
) |
|
|
(84,781 |
) |
Net cash provided by operating activities |
|
844,931 |
|
|
|
909,026 |
|
Cash Flows from Investing Activities: |
|
|
|
|
|
||
Property and equipment additions |
|
(444,790 |
) |
|
|
(505,040 |
) |
Proceeds received from sales of assets and businesses |
|
15,732 |
|
|
|
2,980 |
|
Acquisition of businesses and property |
|
(4,857 |
) |
|
|
(8,314 |
) |
Inflows (outflows) from foreign exchange contracts that hedge our net U.K. investment |
|
12,011 |
|
|
|
(66,402 |
) |
Costs incurred for purchase and development of enterprise resource planning application |
|
(9,964 |
) |
|
|
0 |
|
Decrease (increase) in capital reserves of commercial insurance subsidiary |
|
56 |
|
|
|
(462 |
) |
Net cash used in investing activities |
|
(431,812 |
) |
|
|
(577,238 |
) |
Cash Flows from Financing Activities: |
|
|
|
|
|
||
Repayments of long-term debt |
|
(201,745 |
) |
|
|
(18,548 |
) |
Additional borrowings |
|
300,040 |
|
|
|
94,601 |
|
Financing costs |
|
(1,410 |
) |
|
|
0 |
|
Repurchase of common shares |
|
(484,601 |
) |
|
|
(378,542 |
) |
Dividends paid |
|
(24,760 |
) |
|
|
(26,434 |
) |
Issuance of common stock |
|
8,659 |
|
|
|
8,137 |
|
Profit distributions to noncontrolling interests |
|
(11,889 |
) |
|
|
(9,621 |
) |
Purchase of ownership interests by minority members, net |
|
4,324 |
|
|
|
11,336 |
|
Net cash used in financing activities |
|
(411,382 |
) |
|
|
(319,071 |
) |
Effect of exchange rate changes on cash and cash equivalents |
|
(676 |
) |
|
|
3,931 |
|
Increase in cash, cash equivalents and restricted cash |
|
1,061 |
|
|
|
16,648 |
|
Cash, cash equivalents and restricted cash, beginning of period |
|
271,322 |
|
|
|
224,752 |
|
Cash, cash equivalents and restricted cash, end of period |
$ |
272,383 |
|
|
$ |
241,400 |
|
Supplemental Disclosures of Cash Flow Information: |
|
|
|
|
|
||
Interest paid |
$ |
74,460 |
|
|
$ |
77,448 |
|
Income taxes paid, net of refunds |
$ |
197,419 |
|
|
$ |
251,786 |
|
Noncash purchases of property and equipment |
$ |
80,646 |
|
|
$ |
148,887 |
|
Universal Health Services, Inc. |
|||||||
Supplemental Statistical Information |
|||||||
(unaudited) |
|||||||
|
|
|
|
|
|||
|
|
|
|
|
% Change |
|
% Change |
Same Facility: |
|
|
|
|
Three Months ended |
|
Six Months Ended |
|
|
|
|
|
6/30/2026 |
|
6/30/2026 |
Acute Care Services (1) |
|
|
|
|
|
|
|
Revenues |
|
|
|
|
8.2% |
|
8.2% |
Adjusted Admissions |
|
|
|
|
2.9% |
|
1.4% |
Adjusted Patient Days |
|
|
|
|
3.1% |
|
1.9% |
Revenue Per Adjusted Admission |
|
|
|
|
3.0% |
|
4.6% |
Revenue Per Adjusted Patient Day |
|
|
|
|
2.8% |
|
4.2% |
|
|
|
|
|
|
|
|
Behavioral Health Care Services (1) |
|
|
|
|
|
|
|
Revenues |
|
|
|
|
7.4% |
|
7.4% |
Adjusted Admissions |
|
|
|
|
0.5% |
|
0.9% |
Adjusted Patient Days |
|
|
|
|
1.4% |
|
1.5% |
Revenue Per Adjusted Admission |
|
|
|
|
7.1% |
|
6.6% |
Revenue Per Adjusted Patient Day |
|
|
|
|
6.1% |
|
6.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
UHS Consolidated |
Second Quarter ended |
|
Six Months Ended |
||||
|
6/30/2026 |
|
6/30/2025 |
|
6/30/2026 |
|
6/30/2025 |
Revenues |
$4,638,012 |
|
$4,283,816 |
|
$9,133,194 |
|
$8,383,536 |
EBITDA net of NCI |
$680,233 |
|
$651,359 |
|
$1,331,912 |
|
$1,255,240 |
EBITDA Margin net of NCI |
14.7% |
|
15.2% |
|
14.6% |
|
15.0% |
Adjusted EBITDA net of NCI |
$677,870 |
|
$642,880 |
|
$1,326,160 |
|
$1,241,102 |
Adjusted EBITDA Margin net of NCI |
14.6% |
|
15.0% |
|
14.5% |
|
14.8% |
|
|
|
|
|
|
|
|
Cash Flow From Operations |
$443,303 |
|
$548,978 |
|
$844,931 |
|
$909,026 |
Capital Expenditures |
$227,633 |
|
$266,014 |
|
$444,790 |
|
$505,040 |
Days Sales Outstanding |
|
|
|
|
56 |
|
50 |
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
$4,851,847 |
|
$4,582,897 |
UHS' Shareholders Equity |
|
|
|
|
$7,513,812 |
|
$7,030,048 |
Debt / Total Capitalization |
|
|
|
|
39.2% |
|
39.5% |
Debt / EBITDA net of NCI (2) |
|
|
|
|
1.73 |
|
1.91 |
Debt / Adjusted EBITDA net of NCI (2) |
|
|
|
|
1.81 |
|
1.92 |
Debt / Cash From Operations (2) |
|
|
|
|
2.70 |
|
2.41 |
|
|
|
|
|
|
|
|
(1) Prior year amounts related to certain facilities previously included in our Behavioral Health Care Services’ results have been reclassified into our Acute Care Hospital Services' results as of January 1, 2025 to conform with current year presentation. |
|||||||
|
|
|
|
|
|
|
|
(2) Latest 4 quarters. |
|
|
|
|
|
|
|
Universal Health Services, Inc.
Acute Care Hospital Services
For the Three and Six Months ended
June 30, 2026 and 2025
(in thousands)
(unaudited)
Same Facility Basis - Acute Care Hospital Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
Three months ended |
|
|
Three months ended |
|
|
Six months ended |
|
|
Six months ended |
|
||||||||||||||||||||
|
|
June 30, 2026 |
|
|
June 30, 2025 |
|
|
June 30, 2026 |
|
|
June 30, 2025 |
|
||||||||||||||||||||
|
|
Amount |
|
|
% of Net |
|
|
Amount |
|
|
% of Net |
|
|
Amount |
|
|
% of Net |
|
|
Amount |
|
|
% of Net |
|
||||||||
Net revenues |
|
$ |
2,507,889 |
|
|
|
100.0 |
% |
|
$ |
2,318,826 |
|
|
|
100.0 |
% |
|
$ |
4,977,934 |
|
|
|
100.0 |
% |
|
$ |
4,600,657 |
|
|
|
100.0 |
% |
Operating charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Salaries, wages and benefits |
|
|
991,733 |
|
|
|
39.5 |
% |
|
|
938,594 |
|
|
|
40.5 |
% |
|
|
1,944,568 |
|
|
|
39.1 |
% |
|
|
1,852,423 |
|
|
|
40.3 |
% |
Other operating expenses |
|
|
779,029 |
|
|
|
31.1 |
% |
|
|
672,172 |
|
|
|
29.0 |
% |
|
|
1,507,181 |
|
|
|
30.3 |
% |
|
|
1,310,771 |
|
|
|
28.5 |
% |
Supplies expense |
|
|
362,131 |
|
|
|
14.4 |
% |
|
|
361,093 |
|
|
|
15.6 |
% |
|
|
727,628 |
|
|
|
14.6 |
% |
|
|
709,917 |
|
|
|
15.4 |
% |
Depreciation and amortization |
|
|
103,112 |
|
|
|
4.1 |
% |
|
|
96,458 |
|
|
|
4.2 |
% |
|
|
198,793 |
|
|
|
4.0 |
% |
|
|
191,359 |
|
|
|
4.2 |
% |
Lease and rental expense |
|
|
25,959 |
|
|
|
1.0 |
% |
|
|
24,240 |
|
|
|
1.0 |
% |
|
|
52,697 |
|
|
|
1.1 |
% |
|
|
49,584 |
|
|
|
1.1 |
% |
Subtotal-operating expenses |
|
|
2,261,964 |
|
|
|
90.2 |
% |
|
|
2,092,557 |
|
|
|
90.2 |
% |
|
|
4,430,867 |
|
|
|
89.0 |
% |
|
|
4,114,054 |
|
|
|
89.4 |
% |
Income from operations |
|
|
245,925 |
|
|
|
9.8 |
% |
|
|
226,269 |
|
|
|
9.8 |
% |
|
|
547,067 |
|
|
|
11.0 |
% |
|
|
486,603 |
|
|
|
10.6 |
% |
Interest expense, net |
|
|
1,301 |
|
|
|
0.1 |
% |
|
|
(1,613 |
) |
|
|
(0.1 |
)% |
|
|
2,287 |
|
|
|
0.0 |
% |
|
|
649 |
|
|
|
0.0 |
% |
Other (income) expense, net |
|
|
(1,189 |
) |
|
|
(0.0 |
)% |
|
|
(1,011 |
) |
|
|
(0.0 |
)% |
|
|
(3,744 |
) |
|
|
(0.1 |
)% |
|
|
(9,583 |
) |
|
|
(0.2 |
)% |
Income before income taxes |
|
$ |
245,813 |
|
|
|
9.8 |
% |
|
$ |
228,893 |
|
|
|
9.9 |
% |
|
$ |
548,524 |
|
|
|
11.0 |
% |
|
$ |
495,537 |
|
|
|
10.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
All Acute Care Hospital Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
Three months ended |
|
|
Three months ended |
|
|
Six months ended |
|
|
Six months ended |
|
||||||||||||||||||||
|
|
June 30, 2026 |
|
|
June 30, 2025 |
|
|
June 30, 2026 |
|
|
June 30, 2025 |
|
||||||||||||||||||||
|
|
Amount |
|
|
% of Net |
|
|
Amount |
|
|
% of Net |
|
|
Amount |
|
|
% of Net |
|
|
Amount |
|
|
% of Net |
|
||||||||
Net revenues |
|
$ |
2,609,999 |
|
|
|
100.0 |
% |
|
$ |
2,403,837 |
|
|
|
100.0 |
% |
|
$ |
5,220,135 |
|
|
|
100.0 |
% |
|
$ |
4,761,651 |
|
|
|
100.0 |
% |
Operating charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Salaries, wages and benefits |
|
|
999,864 |
|
|
|
38.3 |
% |
|
|
938,708 |
|
|
|
39.1 |
% |
|
|
1,972,710 |
|
|
|
37.8 |
% |
|
|
1,854,232 |
|
|
|
38.9 |
% |
Other operating expenses |
|
|
885,882 |
|
|
|
33.9 |
% |
|
|
757,549 |
|
|
|
31.5 |
% |
|
|
1,745,729 |
|
|
|
33.4 |
% |
|
|
1,474,211 |
|
|
|
31.0 |
% |
Supplies expense |
|
|
363,494 |
|
|
|
13.9 |
% |
|
|
361,097 |
|
|
|
15.0 |
% |
|
|
731,432 |
|
|
|
14.0 |
% |
|
|
709,789 |
|
|
|
14.9 |
% |
Depreciation and amortization |
|
|
106,623 |
|
|
|
4.1 |
% |
|
|
96,459 |
|
|
|
4.0 |
% |
|
|
202,941 |
|
|
|
3.9 |
% |
|
|
191,362 |
|
|
|
4.0 |
% |
Lease and rental expense |
|
|
26,170 |
|
|
|
1.0 |
% |
|
|
24,240 |
|
|
|
1.0 |
% |
|
|
52,742 |
|
|
|
1.0 |
% |
|
|
49,584 |
|
|
|
1.0 |
% |
Subtotal-operating expenses |
|
|
2,382,033 |
|
|
|
91.3 |
% |
|
|
2,178,053 |
|
|
|
90.6 |
% |
|
|
4,705,554 |
|
|
|
90.1 |
% |
|
|
4,279,178 |
|
|
|
89.9 |
% |
Income from operations |
|
|
227,966 |
|
|
|
8.7 |
% |
|
|
225,784 |
|
|
|
9.4 |
% |
|
|
514,581 |
|
|
|
9.9 |
% |
|
|
482,473 |
|
|
|
10.1 |
% |
Interest expense, net |
|
|
1,301 |
|
|
|
0.0 |
% |
|
|
(1,613 |
) |
|
|
(0.1 |
)% |
|
|
2,287 |
|
|
|
0.0 |
% |
|
|
649 |
|
|
|
0.0 |
% |
Other (income) expense, net |
|
|
(985 |
) |
|
|
(0.0 |
)% |
|
|
(916 |
) |
|
|
(0.0 |
)% |
|
|
(3,117 |
) |
|
|
(0.1 |
)% |
|
|
(9,183 |
) |
|
|
(0.2 |
)% |
Income before income taxes |
|
$ |
227,650 |
|
|
|
8.7 |
% |
|
$ |
228,313 |
|
|
|
9.5 |
% |
|
$ |
515,411 |
|
|
|
9.9 |
% |
|
$ |
491,007 |
|
|
|
10.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|||||||||||||||||||||||||||||||
We believe that providing our results on a “Same Facility” basis (which is a non-GAAP measure), which includes the operating results for facilities and businesses operated in both the current year and prior year periods, is helpful to our investors as a measure of our operating performance. Our Same Facility results also neutralize (if applicable), the effect of material items that are nonrecurring or non-operational in nature including items such as, but not limited to, reserves for various matters, settlements, legal judgments and lawsuits, cost related to extinguishment of debt, gains/losses on sales of assets and businesses, impairments of goodwill, long-lived and intangible assets and other amounts that may be reflected in the current or prior year financial statements that relate to prior periods. Our Same Facility basis results exclude from net revenues and other operating expenses, provider tax assessments incurred in each period. However, these provider tax assessments are included in net revenues and other operating expenses as reflected in the table under All Acute Care Hospital Services. The provider tax assessments had no impact on the income before income taxes as reflected on the above tables since the amounts offset between net revenues and other operating expenses. To obtain a complete understanding of our financial performance, the Same Facility results should be examined in connection with our net income as determined in accordance with GAAP and as presented herein and the condensed consolidated financial statements and notes thereto as contained in our Form 10-K for the year ended December 31, 2025 and our Form 10-Q for the quarter ended March 31, 2026.
Prior year amounts related to certain facilities previously included in our Behavioral Health Care Services’ results have been reclassified into our Acute Care Hospital Services' results as of January 1, 2025 to conform with current year presentation. |
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The All Acute Care Hospital Services table summarizes the results of operations for all our acute care operations during the periods presented. These amounts include: (i) our acute care results on a same facility basis, as indicated above; (ii) the impact of provider tax assessments which increased net revenues and other operating expenses but had no impact on income before income taxes, and; (iii) certain other amounts including the results of facilities acquired or opened during the last twelve months. |
||||||||||||||||||
Universal Health Services, Inc.
Behavioral Health Care Services
For the Three and Six Months ended
June 30, 2026 and 2025
(in thousands)
(unaudited)
Same Facility - Behavioral Health Care Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
Three months ended |
|
|
Three months ended |
|
|
Six months ended |
|
|
Six months ended |
|
||||||||||||||||||||
|
|
June 30, 2026 |
|
|
June 30, 2025 |
|
|
June 30, 2026 |
|
|
June 30, 2025 |
|
||||||||||||||||||||
|
|
Amount |
|
|
% of Net |
|
|
Amount |
|
|
% of Net |
|
|
Amount |
|
|
% of Net |
|
|
Amount |
|
|
% of Net |
|
||||||||
Net revenues |
|
$ |
1,929,171 |
|
|
|
100.0 |
% |
|
$ |
1,796,295 |
|
|
|
100.0 |
% |
|
$ |
3,747,847 |
|
|
|
100.0 |
% |
|
$ |
3,490,455 |
|
|
|
100.0 |
% |
Operating charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Salaries, wages and benefits |
|
|
1,019,296 |
|
|
|
52.8 |
% |
|
|
959,030 |
|
|
|
53.4 |
% |
|
|
2,012,334 |
|
|
|
53.7 |
% |
|
|
1,878,820 |
|
|
|
53.8 |
% |
Other operating expenses |
|
|
355,579 |
|
|
|
18.4 |
% |
|
|
325,595 |
|
|
|
18.1 |
% |
|
|
690,002 |
|
|
|
18.4 |
% |
|
|
645,195 |
|
|
|
18.5 |
% |
Supplies expense |
|
|
57,889 |
|
|
|
3.0 |
% |
|
|
56,957 |
|
|
|
3.2 |
% |
|
|
116,345 |
|
|
|
3.1 |
% |
|
|
111,952 |
|
|
|
3.2 |
% |
Depreciation and amortization |
|
|
56,764 |
|
|
|
2.9 |
% |
|
|
51,873 |
|
|
|
2.9 |
% |
|
|
111,920 |
|
|
|
3.0 |
% |
|
|
102,752 |
|
|
|
2.9 |
% |
Lease and rental expense |
|
|
12,054 |
|
|
|
0.6 |
% |
|
|
10,412 |
|
|
|
0.6 |
% |
|
|
23,359 |
|
|
|
0.6 |
% |
|
|
21,290 |
|
|
|
0.6 |
% |
Subtotal-operating expenses |
|
|
1,501,582 |
|
|
|
77.8 |
% |
|
|
1,403,867 |
|
|
|
78.2 |
% |
|
|
2,953,960 |
|
|
|
78.8 |
% |
|
|
2,760,009 |
|
|
|
79.1 |
% |
Income from operations |
|
|
427,589 |
|
|
|
22.2 |
% |
|
|
392,428 |
|
|
|
21.8 |
% |
|
|
793,887 |
|
|
|
21.2 |
% |
|
|
730,446 |
|
|
|
20.9 |
% |
Interest expense, net |
|
|
1,168 |
|
|
|
0.1 |
% |
|
|
1,104 |
|
|
|
0.1 |
% |
|
|
2,360 |
|
|
|
0.1 |
% |
|
|
2,179 |
|
|
|
0.1 |
% |
Other (income) expense, net |
|
|
(983 |
) |
|
|
(0.1 |
)% |
|
|
(837 |
) |
|
|
(0.0 |
)% |
|
|
(1,866 |
) |
|
|
(0.0 |
)% |
|
|
(1,662 |
) |
|
|
(0.0 |
)% |
Income before income taxes |
|
$ |
427,404 |
|
|
|
22.2 |
% |
|
$ |
392,161 |
|
|
|
21.8 |
% |
|
$ |
793,393 |
|
|
|
21.2 |
% |
|
$ |
729,929 |
|
|
|
20.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
All Behavioral Health Care Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
Three months ended |
|
|
Three months ended |
|
|
Six months ended |
|
|
Six months ended |
|
||||||||||||||||||||
|
|
June 30, 2026 |
|
|
June 30, 2025 |
|
|
June 30, 2026 |
|
|
June 30, 2025 |
|
||||||||||||||||||||
|
|
Amount |
|
|
% of Net |
|
|
Amount |
|
|
% of Net |
|
|
Amount |
|
|
% of Net |
|
|
Amount |
|
|
% of Net |
|
||||||||
Net revenues |
|
$ |
2,025,065 |
|
|
|
100.0 |
% |
|
$ |
1,877,273 |
|
|
|
100.0 |
% |
|
$ |
3,907,217 |
|
|
|
100.0 |
% |
|
$ |
3,616,337 |
|
|
|
100.0 |
% |
Operating charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Salaries, wages and benefits |
|
|
1,040,604 |
|
|
|
51.4 |
% |
|
|
975,553 |
|
|
|
52.0 |
% |
|
|
2,041,698 |
|
|
|
52.3 |
% |
|
|
1,898,919 |
|
|
|
52.5 |
% |
Other operating expenses |
|
|
443,752 |
|
|
|
21.9 |
% |
|
|
383,412 |
|
|
|
20.4 |
% |
|
|
835,650 |
|
|
|
21.4 |
% |
|
|
745,674 |
|
|
|
20.6 |
% |
Supplies expense |
|
|
58,475 |
|
|
|
2.9 |
% |
|
|
58,289 |
|
|
|
3.1 |
% |
|
|
117,262 |
|
|
|
3.0 |
% |
|
|
113,437 |
|
|
|
3.1 |
% |
Depreciation and amortization |
|
|
58,895 |
|
|
|
2.9 |
% |
|
|
53,170 |
|
|
|
2.8 |
% |
|
|
115,529 |
|
|
|
3.0 |
% |
|
|
104,322 |
|
|
|
2.9 |
% |
Lease and rental expense |
|
|
12,212 |
|
|
|
0.6 |
% |
|
|
10,963 |
|
|
|
0.6 |
% |
|
|
23,727 |
|
|
|
0.6 |
% |
|
|
22,327 |
|
|
|
0.6 |
% |
Subtotal-operating expenses |
|
|
1,613,938 |
|
|
|
79.7 |
% |
|
|
1,481,387 |
|
|
|
78.9 |
% |
|
|
3,133,866 |
|
|
|
80.2 |
% |
|
|
2,884,679 |
|
|
|
79.8 |
% |
Income from operations |
|
|
411,127 |
|
|
|
20.3 |
% |
|
|
395,886 |
|
|
|
21.1 |
% |
|
|
773,351 |
|
|
|
19.8 |
% |
|
|
731,658 |
|
|
|
20.2 |
% |
Interest expense, net |
|
|
1,273 |
|
|
|
0.1 |
% |
|
|
1,104 |
|
|
|
0.1 |
% |
|
|
2,545 |
|
|
|
0.1 |
% |
|
|
2,179 |
|
|
|
0.1 |
% |
Other (income) expense, net |
|
|
(983 |
) |
|
|
(0.0 |
)% |
|
|
(837 |
) |
|
|
(0.0 |
)% |
|
|
(1,866 |
) |
|
|
(0.0 |
)% |
|
|
(1,662 |
) |
|
|
(0.0 |
)% |
Income before income taxes |
|
$ |
410,837 |
|
|
|
20.3 |
% |
|
$ |
395,619 |
|
|
|
21.1 |
% |
|
$ |
772,672 |
|
|
|
19.8 |
% |
|
$ |
731,141 |
|
|
|
20.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|||||||||||||||||||||||||||||||
We believe that providing our results on a “Same Facility” basis (which is a non-GAAP measure), which includes the operating results for facilities and businesses operated in both the current year and prior year periods, is helpful to our investors as a measure of our operating performance. Our Same Facility results also neutralize (if applicable), the effect of material items that are nonrecurring or non-operational in nature including items such as, but not limited to, reserves for various matters, settlements, legal judgments and lawsuits, cost related to extinguishment of debt, gains/losses on sales of assets and businesses, impairments of goodwill, long-lived and intangible assets and other amounts that may be reflected in the current or prior year financial statements that relate to prior periods. Our Same Facility basis results exclude from net revenues and other operating expenses, provider tax assessments incurred in each period. However, these provider tax assessments are included in net revenues and other operating expenses as reflected in the table under All Behavioral Health Care Services. The provider tax assessments had no impact on the income before income taxes as reflected on the above tables since the amounts offset between net revenues and other operating expenses. To obtain a complete understanding of our financial performance, the Same Facility results should be examined in connection with our net income as determined in accordance with GAAP and as presented herein and the condensed consolidated financial statements and notes thereto as contained in our Form 10-K for the year ended December 31, 2025 and or Form 10-Q for the quarter ended March 31, 2026.
Prior year amounts related to certain facilities previously included in our Behavioral Health Care Services’ results have been reclassified into our Acute Care Hospital Services' results as of January 1, 2025 to conform with current year presentation. |
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The All Behavioral Health Care Services table summarizes the results of operations for all our behavioral health care facilities during the periods presented. These amounts include: (i) our behavioral health results on a same facility basis, as indicated above; (ii) the impact of provider tax assessments which increased net revenues and other operating expenses but had no impact on income before income taxes, and; (iii) certain other amounts including the results of facilities acquired or opened during the last twelve months. |
||||||||||||||||||
Universal Health Services, Inc. |
|
|||||||||||||||||||||||
Selected Hospital Statistics |
|
|||||||||||||||||||||||
For the Three Months ended |
|
|||||||||||||||||||||||
June 30, 2026 and 2025 |
|
|||||||||||||||||||||||
(unaudited) |
|
|||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
AS REPORTED: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
ACUTE |
|
|
BEHAVIORAL HEALTH |
|
||||||||||||||||||
|
|
06/30/26 |
|
|
06/30/25 |
|
|
% change |
|
|
06/30/26 |
|
|
06/30/25 |
|
|
% change |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Hospitals owned and leased |
|
|
30 |
|
|
|
28 |
|
|
|
7.1 |
% |
|
|
346 |
|
|
|
338 |
|
|
|
2.4 |
% |
Average licensed beds |
|
|
7,434 |
|
|
|
7,159 |
|
|
|
3.8 |
% |
|
|
24,587 |
|
|
|
24,254 |
|
|
|
1.4 |
% |
Average available beds |
|
|
7,262 |
|
|
|
6,987 |
|
|
|
3.9 |
% |
|
|
24,487 |
|
|
|
24,154 |
|
|
|
1.4 |
% |
Patient days |
|
|
420,001 |
|
|
|
412,885 |
|
|
|
1.7 |
% |
|
|
1,631,375 |
|
|
|
1,620,819 |
|
|
|
0.7 |
% |
Average daily census |
|
|
4,615.4 |
|
|
|
4,537.2 |
|
|
|
1.7 |
% |
|
|
17,927.2 |
|
|
|
17,811.2 |
|
|
|
0.7 |
% |
Occupancy-licensed beds |
|
|
62.1 |
% |
|
|
63.4 |
% |
|
|
-2.0 |
% |
|
|
72.9 |
% |
|
|
73.4 |
% |
|
|
-0.7 |
% |
Occupancy-available beds |
|
|
63.6 |
% |
|
|
64.9 |
% |
|
|
-2.1 |
% |
|
|
73.2 |
% |
|
|
73.7 |
% |
|
|
-0.7 |
% |
Admissions |
|
|
88,649 |
|
|
|
87,278 |
|
|
|
1.6 |
% |
|
|
116,857 |
|
|
|
118,519 |
|
|
|
-1.4 |
% |
Length of stay |
|
|
4.7 |
|
|
|
4.7 |
|
|
|
0.2 |
% |
|
|
14.0 |
|
|
|
13.7 |
|
|
|
2.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Inpatient revenue |
|
$ |
15,586,752 |
|
|
$ |
13,886,867 |
|
|
|
12.2 |
% |
|
$ |
3,302,515 |
|
|
$ |
2,993,234 |
|
|
|
10.3 |
% |
Outpatient revenue |
|
|
11,194,461 |
|
|
|
9,638,566 |
|
|
|
16.1 |
% |
|
|
326,489 |
|
|
|
294,989 |
|
|
|
10.7 |
% |
Total patient revenue |
|
|
26,781,213 |
|
|
|
23,525,433 |
|
|
|
13.8 |
% |
|
|
3,629,004 |
|
|
|
3,288,223 |
|
|
|
10.4 |
% |
Other revenue |
|
|
353,881 |
|
|
|
285,690 |
|
|
|
23.9 |
% |
|
|
96,736 |
|
|
|
93,542 |
|
|
|
3.4 |
% |
Gross revenue |
|
|
27,135,094 |
|
|
|
23,811,123 |
|
|
|
14.0 |
% |
|
|
3,725,740 |
|
|
|
3,381,765 |
|
|
|
10.2 |
% |
Total deductions |
|
|
24,525,095 |
|
|
|
21,407,286 |
|
|
|
14.6 |
% |
|
|
1,700,675 |
|
|
|
1,504,492 |
|
|
|
13.0 |
% |
Net revenue |
|
$ |
2,609,999 |
|
|
$ |
2,403,837 |
|
|
|
8.6 |
% |
|
$ |
2,025,065 |
|
|
$ |
1,877,273 |
|
|
|
7.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
SAME FACILITY: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
ACUTE |
|
|
BEHAVIORAL HEALTH |
|
||||||||||||||||||
|
|
06/30/26 |
|
|
06/30/25 |
|
|
% change |
|
|
06/30/26 |
|
|
06/30/25 |
|
|
% change |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Hospitals owned and leased |
|
|
29 |
|
|
|
29 |
|
|
|
0.0 |
% |
|
|
334 |
|
|
|
334 |
|
|
|
0.0 |
% |
Average licensed beds |
|
|
7,330 |
|
|
|
7,159 |
|
|
|
2.4 |
% |
|
|
23,703 |
|
|
|
23,652 |
|
|
|
0.2 |
% |
Average available beds |
|
|
7,158 |
|
|
|
6,987 |
|
|
|
2.4 |
% |
|
|
23,603 |
|
|
|
23,552 |
|
|
|
0.2 |
% |
Patient days |
|
|
419,710 |
|
|
|
412,885 |
|
|
|
1.7 |
% |
|
|
1,597,105 |
|
|
|
1,576,830 |
|
|
|
1.3 |
% |
Average daily census |
|
|
4,612.2 |
|
|
|
4,537.2 |
|
|
|
1.7 |
% |
|
|
17,550.6 |
|
|
|
17,327.8 |
|
|
|
1.3 |
% |
Occupancy-licensed beds |
|
|
62.9 |
% |
|
|
63.4 |
% |
|
|
-0.7 |
% |
|
|
74.0 |
% |
|
|
73.3 |
% |
|
|
1.1 |
% |
Occupancy-available beds |
|
|
64.4 |
% |
|
|
64.9 |
% |
|
|
-0.8 |
% |
|
|
74.4 |
% |
|
|
73.6 |
% |
|
|
1.1 |
% |
Admissions |
|
|
88,562 |
|
|
|
87,278 |
|
|
|
1.5 |
% |
|
|
114,911 |
|
|
|
114,433 |
|
|
|
0.4 |
% |
Length of stay |
|
|
4.7 |
|
|
|
4.7 |
|
|
|
0.2 |
% |
|
|
13.9 |
|
|
|
13.8 |
|
|
|
0.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Prior year amounts related to certain facilities previously included in our Behavioral Health Care Services’ results have been reclassified into our Acute Care Hospital Services' results as of January 1, 2025 to conform with current year presentation. |
|
|||||||||||||||||||||||
Universal Health Services, Inc. |
|
|||||||||||||||||||||||
Selected Hospital Statistics |
|
|||||||||||||||||||||||
For the Six Months Ended |
|
|||||||||||||||||||||||
June 30, 2026 and 2025 |
|
|||||||||||||||||||||||
(unaudited) |
|
|||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
AS REPORTED: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
ACUTE |
|
|
BEHAVIORAL HEALTH |
|
||||||||||||||||||
|
|
06/30/26 |
|
|
06/30/25 |
|
|
% change |
|
|
06/30/26 |
|
|
06/30/25 |
|
|
% change |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Hospitals owned and leased |
|
|
30 |
|
|
|
28 |
|
|
|
7.1 |
% |
|
|
346 |
|
|
|
338 |
|
|
|
2.4 |
% |
Average licensed beds |
|
|
7,300 |
|
|
|
7,076 |
|
|
|
3.2 |
% |
|
|
24,579 |
|
|
|
24,170 |
|
|
|
1.7 |
% |
Average available beds |
|
|
7,128 |
|
|
|
6,904 |
|
|
|
3.2 |
% |
|
|
24,479 |
|
|
|
24,070 |
|
|
|
1.7 |
% |
Patient days |
|
|
851,080 |
|
|
|
841,922 |
|
|
|
1.1 |
% |
|
|
3,250,959 |
|
|
|
3,209,365 |
|
|
|
1.3 |
% |
Average daily census |
|
|
4,702.1 |
|
|
|
4,651.5 |
|
|
|
1.1 |
% |
|
|
17,961.1 |
|
|
|
17,731.3 |
|
|
|
1.3 |
% |
Occupancy-licensed beds |
|
|
64.4 |
% |
|
|
65.7 |
% |
|
|
-2.0 |
% |
|
|
73.1 |
% |
|
|
73.4 |
% |
|
|
-0.4 |
% |
Occupancy-available beds |
|
|
66.0 |
% |
|
|
67.4 |
% |
|
|
-2.1 |
% |
|
|
73.4 |
% |
|
|
73.7 |
% |
|
|
-0.4 |
% |
Admissions |
|
|
176,538 |
|
|
|
175,368 |
|
|
|
0.7 |
% |
|
|
234,348 |
|
|
|
234,869 |
|
|
|
-0.2 |
% |
Length of stay |
|
|
4.8 |
|
|
|
4.8 |
|
|
|
0.4 |
% |
|
|
13.9 |
|
|
|
13.7 |
|
|
|
1.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Inpatient revenue |
|
$ |
31,549,934 |
|
|
$ |
28,205,158 |
|
|
|
11.9 |
% |
|
$ |
6,568,817 |
|
|
$ |
5,838,122 |
|
|
|
12.5 |
% |
Outpatient revenue |
|
|
22,007,439 |
|
|
|
18,966,362 |
|
|
|
16.0 |
% |
|
|
638,981 |
|
|
|
569,023 |
|
|
|
12.3 |
% |
Total patient revenue |
|
|
53,557,373 |
|
|
|
47,171,520 |
|
|
|
13.5 |
% |
|
|
7,207,798 |
|
|
|
6,407,145 |
|
|
|
12.5 |
% |
Other revenue |
|
|
691,138 |
|
|
|
566,133 |
|
|
|
22.1 |
% |
|
|
192,211 |
|
|
|
181,921 |
|
|
|
5.7 |
% |
Gross revenue |
|
|
54,248,511 |
|
|
|
47,737,653 |
|
|
|
13.6 |
% |
|
|
7,400,009 |
|
|
|
6,589,066 |
|
|
|
12.3 |
% |
Total deductions |
|
|
49,028,376 |
|
|
|
42,976,002 |
|
|
|
14.1 |
% |
|
|
3,492,792 |
|
|
|
2,972,729 |
|
|
|
17.5 |
% |
Net revenue |
|
$ |
5,220,135 |
|
|
$ |
4,761,651 |
|
|
|
9.6 |
% |
|
$ |
3,907,217 |
|
|
$ |
3,616,337 |
|
|
|
8.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
SAME FACILITY: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
ACUTE |
|
|
BEHAVIORAL HEALTH |
|
||||||||||||||||||
|
|
06/30/26 |
|
|
06/30/25 |
|
|
% change |
|
|
06/30/26 |
|
|
06/30/25 |
|
|
% change |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Hospitals owned and leased |
|
|
29 |
|
|
|
29 |
|
|
|
0.0 |
% |
|
|
334 |
|
|
|
334 |
|
|
|
0.0 |
% |
Average licensed beds |
|
|
7,177 |
|
|
|
7,076 |
|
|
|
1.4 |
% |
|
|
23,860 |
|
|
|
23,754 |
|
|
|
0.4 |
% |
Average available beds |
|
|
7,005 |
|
|
|
6,904 |
|
|
|
1.5 |
% |
|
|
23,760 |
|
|
|
23,654 |
|
|
|
0.4 |
% |
Patient days |
|
|
845,542 |
|
|
|
841,922 |
|
|
|
0.4 |
% |
|
|
3,190,451 |
|
|
|
3,147,427 |
|
|
|
1.4 |
% |
Average daily census |
|
|
4,671.5 |
|
|
|
4,651.5 |
|
|
|
0.4 |
% |
|
|
17,626.8 |
|
|
|
17,389.1 |
|
|
|
1.4 |
% |
Occupancy-licensed beds |
|
|
65.1 |
% |
|
|
65.7 |
% |
|
|
-1.0 |
% |
|
|
73.9 |
% |
|
|
73.2 |
% |
|
|
0.9 |
% |
Occupancy-available beds |
|
|
66.7 |
% |
|
|
67.4 |
% |
|
|
-1.0 |
% |
|
|
74.2 |
% |
|
|
73.5 |
% |
|
|
0.9 |
% |
Admissions |
|
|
175,342 |
|
|
|
175,368 |
|
|
|
0.0 |
% |
|
|
231,179 |
|
|
|
229,482 |
|
|
|
0.7 |
% |
Length of stay |
|
|
4.8 |
|
|
|
4.8 |
|
|
|
0.4 |
% |
|
|
13.8 |
|
|
|
13.7 |
|
|
|
0.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Prior year amounts related to certain facilities previously included in our Behavioral Health Care Services’ results have been reclassified into our Acute Care Hospital Services' results as of January 1, 2025 to conform with current year presentation. |
|
|||||||||||||||||||||||
Universal Health Services, Inc. |
||||||||||||||||||
Supplemental Non-GAAP Disclosures |
||||||||||||||||||
Revised 2026 Operating Results Forecast |
||||||||||||||||||
(in thousands, except per share amounts) |
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
Revised Forecast For The Year Ending December 31, 2026 |
|
|
|||||||||||||
|
|
|
|
|
|
% Net |
|
|
|
|
|
% Net |
|
|
||||
|
|
|
Low |
|
|
revenues |
|
|
High |
|
|
revenues |
|
|
||||
Net revenues |
|
|
$ |
18,501,000 |
|
|
|
|
|
$ |
18,762,000 |
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income attributable to UHS (a) |
$ |
1,322,985 |
|
|
|
|
|
$ |
1,404,050 |
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Depreciation and amortization |
|
|
|
669,318 |
|
|
|
|
|
|
669,318 |
|
|
|
|
|
||
Interest expense |
|
|
|
204,898 |
|
|
|
|
|
|
204,898 |
|
|
|
|
|
||
Other (income) expense, net |
|
|
|
(9,924 |
) |
|
|
|
|
|
(9,924 |
) |
|
|
|
|
||
Provision for income taxes |
|
|
|
422,378 |
|
|
|
|
|
|
448,259 |
|
|
|
|
|
||
Adjusted EBITDA net of NCI (b) |
$ |
2,609,655 |
|
|
|
14.1 |
% |
|
$ |
2,716,601 |
|
|
|
14.5 |
% |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income attributable to UHS, per diluted share (a) |
$ |
22.28 |
|
|
|
|
|
$ |
23.65 |
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Shares used in computing diluted earnings per share |
|
59,369 |
|
|
|
|
|
|
59,369 |
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
(a) Adjusted net income attributable to UHS/per diluted share exclude the following items because we do not believe we can forecast these items with sufficient accuracy. Such items include: the impact of future items, if applicable, that are nonrecurring or non-operational in nature including items such as pre-tax unrealized gains/losses resulting from changes in the value of certain non-marketable securities, the impact of ASU 2016-09, and other potential material items including, but not limited to, impairments of goodwill, long-lived and intangible assets, reserves for various matters including settlements, legal judgments and lawsuits, costs related to extinguishment of debt, gains/losses on sales of assets and businesses, potential impacts of non-ordinary acquisitions, divestitures, joint ventures or other strategic transactions, other amounts that may be reflected in the current or prior year financial statements that relate to prior periods, and the impact of share repurchases that differ from our forecasted assumptions. Adjusted net income attributable to UHS/per diluted share is also subject to certain conditions including those as set forth in General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures. |
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
(b) Adjusted EBITDA net of NCI is a non-GAAP financial measure and should not be considered a measure of financial performance under GAAP. We believe Adjusted EBITDA net of NCI is helpful to our investors as a measure of operating performance. |
||||||||||||||||||