Welcome to our dedicated page for Universal Health Services Class B news (Ticker: UHS), a resource for investors and traders seeking the latest updates and insights on Universal Health Services Class B stock.
Universal Health Services, Inc. (UHS) is a leading healthcare management company that operates through its subsidiaries, which include acute care hospitals, behavioral health facilities, and ambulatory centers across the United States, the United Kingdom, and Puerto Rico. Founded in 1978, UHS is headquartered in King of Prussia, PA, and has grown into a Fortune 500 company with annual revenues of $14.282 billion in 2023 and a workforce of approximately 96,700 employees.
The company's operations are divided into two main segments: Acute Care Hospital Services and Behavioral Health Services. The Acute Care segment encompasses acute care hospitals, surgical hospitals, and surgery and oncology centers, while the Behavioral Health segment includes inpatient and outpatient behavioral health facilities. UHS aims to build or acquire high-quality hospitals in rapidly growing markets, focusing on exceptional service and cost efficiency.
Recent Achievements and Financial Performance:
- In the second quarter of 2023, UHS reported a net income of $171.3 million ($2.42 per diluted share), reflecting a 6.8% increase in net revenues to $3.548 billion compared to the same period in 2022.
- For the full year of 2023, UHS reported net revenues of $14.282 billion, a 6.6% increase from 2022, with a net income of $717.8 million ($10.23 per diluted share).
- The company consistently sees growth in both acute care and behavioral health services, with significant increases in adjusted admissions and net revenues.
Current Projects and Strategic Focus:
- UHS is focusing on expanding its presence in rapidly growing markets by investing in new facilities and upgrading existing ones.
- The company is continuously exploring strategic acquisitions to enhance its service offerings and market reach.
- UHS maintains a proactive approach to managing its finances and operational efficiency, including a stock repurchase program with an aggregate available authorization of approximately $423 million as of December 31, 2023.
Partnerships and Community Impact:
- UHS acts as the advisor to Universal Health Realty Income Trust (NYSE: UHT), a real estate investment trust.
- The company's operating philosophy emphasizes integrity, competence, and compassion, ensuring high-quality care for its patients and communities.
UHS has been recognized on the Fortune 500 list (#311) and Forbes' list of America's Largest Public Companies (#434). Additionally, UHS has been named one of the World's Most Admired Companies by Fortune, highlighting its commitment to excellence in healthcare services.
For the latest news, financial reports, and conference call information, please visit the UHS website.
Universal Health Services, Inc. (UHS) reported a strong first quarter of 2023, achieving a net income of $163.1 million, or $2.28 per diluted share, up from $153.9 million or $2.02 per share in Q1 2022. Net revenues grew by 5.3% to $3.468 billion, compared to $3.293 billion in the prior year. Adjusted net income was $167.6 million, or $2.34 per diluted share, an increase from $163.5 million in the previous year. EBITDA also rose to $407.3 million from $368.3 million. Acute care services saw a 3.5% revenue increase, while behavioral health care services surged by 9.7%. However, net cash from operations decreased to $291 million from $445 million in 2022, primarily due to changes in working capital. The company has an available repurchase authorization of $869 million for its stock buyback program.
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