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UNIVERSAL HEALTH SERVICES, INC. ANNOUNCES 2024 THIRD QUARTER FINANCIAL RESULTS

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Universal Health Services (UHS) reported strong financial results for Q3 2024. Net income reached $258.7 million ($3.80 per diluted share), up from $167.0 million in Q3 2023. Net revenues increased 11.2% to $3.963 billion. The company's acute care facilities saw adjusted admissions increase by 1.5%, while behavioral health facilities experienced a 2.2% rise. EBITDA margin improved to 13.3% from 11.5% year-over-year. UHS completed a $1 billion financing transaction and authorized a $1.0 billion increase to its stock repurchase program, under which it repurchased 658,000 shares for $153.9 million in Q3.

Universal Health Services (UHS) ha riportato risultati finanziari solidi per il terzo trimestre del 2024. L'utile netto ha raggiunto 258,7 milioni di dollari (3,80 dollari per azione diluita), in aumento rispetto ai 167,0 milioni di dollari nel terzo trimestre del 2023. Le entrate nette sono aumentate del 11,2%, raggiungendo i 3,963 miliardi di dollari. Le strutture acute dell'azienda hanno visto un incremento degli accessi aggiustati dell'1,5%, mentre le strutture per la salute comportamentale hanno registrato un aumento del 2,2%. Il margine EBITDA è migliorato al 13,3% rispetto all'11,5% dell'anno precedente. UHS ha completato una transazione di finanziamento da 1 miliardo di dollari e ha autorizzato un aumento di 1,0 miliardo di dollari per il suo programma di riacquisto di azioni, sotto il quale ha riacquistato 658.000 azioni per 153,9 milioni di dollari nel terzo trimestre.

Universal Health Services (UHS) reportó resultados financieros sólidos para el tercer trimestre de 2024. El ingreso neto alcanzó 258,7 millones de dólares (3,80 dólares por acción diluida), un aumento respecto a los 167,0 millones de dólares en el tercer trimestre de 2023. Los ingresos netos aumentaron un 11,2%, alcanzando 3.963 millones de dólares. Las instalaciones de atención aguda de la compañía vieron un aumento en las admisiones ajustadas del 1,5%, mientras que las instalaciones de salud comportamental experimentaron un aumento del 2,2%. El margen EBITDA mejoró al 13,3% desde el 11,5% del año anterior. UHS completó una transacción de financiamiento de 1.000 millones de dólares y autorizó un aumento de 1.000 millones de dólares a su programa de recompra de acciones, bajo el cual recompró 658.000 acciones por 153,9 millones de dólares en el tercer trimestre.

유니버설 헬스 서비스(UHS)는 2024년 3분기 강력한 재무 실적을 보고했습니다. 순이익은 2억 5870만 달러(희석된 주당 3.80달러)에 이르렀으며, 이는 2023년 3분기의 1억 6700만 달러에서 증가한 수치입니다. 순수익은 11.2% 증가하여 39억 6300만 달러에 달했습니다. 회사의 급성 치료 시설은 조정된 입원이 1.5% 증가하였고, 행동 건강 시설은 2.2% 증가했습니다. EBITDA 마진은 전년 대비 11.5%에서 13.3%로 개선되었습니다. UHS는 10억 달러 규모의 자금 조달 거래를 완료했으며, 주식 매입 프로그램에 10억 달러 증액을 승인하였으며, 이 프로그램에 따라 3분기에 658,000주를 1억 5390만 달러에 매입했습니다.

Universal Health Services (UHS) a rapporté des résultats financiers solides pour le troisième trimestre 2024. Le revenu net a atteint 258,7 millions de dollars (3,80 dollars par action diluée), en hausse par rapport à 167,0 millions de dollars au troisième trimestre 2023. Les revenus nets ont augmenté de 11,2% pour atteindre 3,963 milliards de dollars. Les établissements de soins aigus de la société ont vu le nombre d'admissions ajustées augmenter de 1,5%, tandis que les établissements de santé comportementale ont enregistré une hausse de 2,2%. La marge EBITDA s'est améliorée à 13,3% contre 11,5% l'année précédente. UHS a finalisé une transaction de financement de 1 milliard de dollars et a autorisé une augmentation de 1,0 milliard de dollars de son programme de rachat d'actions, qui a permis le rachat de 658 000 actions pour 153,9 millions de dollars au troisième trimestre.

Universal Health Services (UHS) berichtete über starke finanziellen Ergebnisse für das 3. Quartal 2024. Der Nettogewinn erreichte 258,7 Millionen Dollar (3,80 Dollar pro verwässerter Aktie), ein Anstieg von 167,0 Millionen Dollar im 3. Quartal 2023. Die Nettoumsätze stiegen um 11,2% auf 3,963 Milliarden Dollar. Die Akutpflegeeinrichtungen des Unternehmens verzeichneten einen Anstieg der angepassten Aufnahmen um 1,5%, während die Einrichtungen für psychische Gesundheit einen Anstieg von 2,2% erfuhren. Die EBITDA-Marge verbesserte sich von 11,5% auf 13,3% im Vergleich zum Vorjahr. UHS vollendete eine Finanzierungstransaktion über 1 Milliarde Dollar und genehmigte eine Erhöhung des Aktienrückkaufprogramms um 1,0 Milliarde Dollar, unter dem 658.000 Aktien für 153,9 Millionen Dollar im 3. Quartal zurückgekauft wurden.

Positive
  • Net income increased 54.9% to $258.7 million in Q3 2024
  • Net revenues grew 11.2% to $3.963 billion
  • EBITDA margin improved to 13.3% from 11.5%
  • Behavioral health services revenues increased 10.5% on same facility basis
  • Operating cash flow improved by $593 million to $1.409 billion
  • $1.074 billion available for share repurchases
Negative
  • Modest acute care admission growth of only 1.5%
  • Increased debt through new $1 billion senior secured notes issuance

Insights

UHS delivered exceptional Q3 2024 results with significant growth metrics. Net income surged 54.9% to $258.7 million, while revenue grew 11.2% to $3.963 billion. Key performance indicators show robust operational efficiency with EBITDA margin expanding to 13.3% from 11.5%. Both acute care and behavioral health segments demonstrated strong same-facility growth, with notable revenue per admission improvements. The company's financial position strengthened further through strategic debt refinancing and maintains healthy liquidity with $1.01 billion available in credit facility. The aggressive share buyback program and $1.0 billion authorization increase signals management's confidence in future performance.

The operational metrics reveal strong healthcare delivery performance across both divisions. Behavioral health services showed impressive growth with 8.0% revenue increase per adjusted admission, while acute care services demonstrated solid volume growth with 1.5% increase in adjusted admissions. The sustained improvement in patient volumes and revenue metrics indicates successful execution of pricing strategies and operational efficiency initiatives. Notable working capital management led to a substantial increase in operating cash flow to $1.409 billion, reflecting enhanced operational efficiency and improved collections.

Consolidated Results of Operations, As Reported and As Adjusted  – Three-month periods ended September 30, 2024 and 2023:

KING OF PRUSSIA, Penn., Oct. 24, 2024 /PRNewswire/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that its reported net income attributable to UHS was $258.7 million, or $3.80 per diluted share, during the third quarter of 2024, as compared to $167.0 million, or $2.40 per diluted share, during the third quarter of 2023. Net revenues increased by 11.2% to $3.963 billion during the third quarter of 2024, as compared to $3.563 billion during the third quarter of 2023.

As reflected on the Schedule of Non-GAAP Supplemental Information ("Supplemental Schedule"), our adjusted net income attributable to UHS during the third quarter of 2024 was $252.5 million, or $3.71 per diluted share, as compared to $177.5 million, or $2.55 per diluted share, during the third quarter of 2023. 

As reflected on the Supplemental Schedule, included in our reported results during the third quarter of 2024 were: (i) an unrealized after-tax gain of $2.3 million, or $.03 per diluted share ($3.0 million pre-tax), resulting from an increase in the market value of certain equity securities (included in "Other (income) expense, net"), and; (ii) a favorable net after-tax impact of $3.9 million, or $.06 per diluted share, resulting from the net tax benefit recorded pursuant to "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).   

As reflected on the Supplemental Schedule, included in our reported results during the third quarter of 2023, was an after-tax loss of $10.5 million, or $.15 per diluted share ($13.8 million pre-tax), resulting from a decrease in the market value of certain equity securities. 

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 $528.6 million, or 13.3% of net revenues, during the third quarter of 2024, as compared to $410.1 million, or 11.5% of net revenues, during the third quarter of 2023. Our adjusted earnings before interest, taxes, depreciation & amortization ("Adjusted EBITDA net of NCI"), which excludes the impact of other (income) expense, net, was $526.5 million, or 13.3% of net revenues, during the third quarter of 2024, as compared to $421.5 million, or 11.8% of net revenues, during the third quarter of 2023.

Consolidated Results of Operations, As Reported and As Adjusted  – Nine-month periods ended September 30, 2024 and 2023:

Reported net income attributable to UHS was $809.7 million, or $11.88 per diluted share, during the first nine months of 2024, as compared to $501.4 million, or $7.09 per diluted share, during the first nine months 2023. Net revenues increased by 10.7% to $11.714 billion during the first nine months of 2024, as compared to $10.578 billion during the comparable period of 2023.

As reflected on the Supplemental Schedule, our adjusted net income attributable to UHS during the first nine months of 2024 was $798.2 million, or $11.71 per diluted share, as compared to $524.5 million, or $7.42 per diluted share, during the comparable period of 2023. 

As reflected on the Supplemental Schedule, included in our reported results during the first nine months of 2024 were: (i) an unrealized after-tax loss of $4.0 million, or $.06 per diluted share ($5.3 million pre-tax), resulting from a decrease in the market value of certain equity securities (included in "Other (income) expense, net"), and; (ii) a favorable net after-tax impact of $15.5 million, or $.23 per diluted share, resulting from the above-mentioned net tax benefit recorded in connection with ASU 2016-09, net of the impact of executive compensation limitations pursuant to IRC section 162(m).     

As reflected on the Supplemental Schedule, our reported results during the first nine months of 2023, included an unrealized after-tax loss of $23.0 million, or $.33 per diluted share, ($30.1 million pre-tax) resulting from a decrease in the market value of certain equity securities.   

As calculated on the attached Supplemental Schedule, our EBITDA net of NCI, was $1.628 billion, or 13.9% of net revenues, during the first nine months of 2024, as compared to $1.237 billion, or 11.7% of net revenues, during the first nine months of 2023. Our Adjusted EBITDA net of NCI, which excludes the impact of other (income) expense, net, was $1.631 billion, or 13.9% of net revenues, during the first nine months of 2024, as compared to $1.268 billion, or 12.0% of net revenues, during the comparable period of 2023.

Acute Care Services – Three and nine-month periods ended September 30, 2024 and 2023:

During the third quarter of 2024, at our acute care hospitals owned during both periods ("same facility basis"), adjusted admissions (adjusted for outpatient activity) increased by 1.5% while adjusted patient days increased by 2.0%, as compared to the third quarter of 2023. At these facilities, during the third quarter of 2024, net revenue per adjusted admission increased by 7.0% while net revenue per adjusted patient day increased by 6.5%, as compared to the third quarter of 2023. Net revenues generated from our acute care services, on a same facility basis, increased by 9.2% during the third quarter of 2024, as compared to the third quarter of 2023.

During the nine-month period ended September 30, 2024, at our acute care hospitals on a same facility basis, adjusted admissions increased by 3.1% while adjusted patient days increased by 2.3%, as compared to the first nine months of 2023. At these facilities, during the first nine months of 2024, net revenue per adjusted admission increased by 5.0% while net revenue per adjusted patient day increased by 5.8%, as compared to the first nine months of 2023. Net revenues generated from our acute care services, on a same facility basis, increased by 8.5% during the first nine months of 2024, as compared to the comparable period of 2023.

Behavioral Health Care Services – Three and nine-month periods ended September 30, 2024 and 2023:

During the third quarter of 2024, at our behavioral health care facilities on a same facility basis, adjusted admissions increased by 2.2% while adjusted patient days increased by 1.8%, as compared to the third quarter of 2023. At these facilities, during the third quarter of 2024, net revenue per adjusted admission increased by 8.0% and net revenue per adjusted patient day increased by 8.5%, as compared to the third quarter of 2023. Net revenues generated from our behavioral health care services, on a same facility basis, increased by 10.5% during the third quarter of 2024, as compared to the third quarter of 2023.

During the nine-month period ended September 30, 2024, at our behavioral health care facilities on a same facility basis, adjusted admissions increased by 0.3% while adjusted patient days increased by 1.7%, as compared to the first nine months of 2023. At these facilities, during the first nine months of 2024, net revenue per adjusted admission increased by 10.1% and net revenue per adjusted patient day increased by 8.7%, as compared to the first nine months of 2023. Net revenues generated from our behavioral health care services, on a same facility basis, increased by 10.6% during the first nine months of 2024, as compared to the comparable period of 2023.

Net Cash Provided by Operating Activities and Liquidity:

Net Cash Provided by Operating Activities:

During the nine-month period ended September 30, 2024, our net cash provided by operating activities was $1.409 billion as compared to $815 million during the first nine months of 2023. The $593 million net increase in our net cash provided by operating activities consisted of: (i) a favorable change of $353 million resulting from an increase in net income plus/minus depreciation and amortization expense, stock-based compensation expense, gains on sales of assets and businesses and costs related to extinguishment of debt; (ii) a favorable change of $205 million in accounts receivable; (iii) a favorable change of $66 million in other working capital accounts; (iv) an unfavorable change of $55 million in other assets and deferred charges, and; (v) $24 million of other combined net favorable changes.     

Liquidity:

As previously disclosed on Form 8-K on October 1, 2024, in September, 2024, we completed the following financing transactions:

  • public offering of $500 million aggregate principal amount of 4.625% senior secured notes due in 2029;
  • public offering of $500 million aggregate principal amount of 5.050% senior secured notes due in 2034;
  • amended our credit agreement to:
    • extend the maturity date to September, 2029 (from August, 2026 previously),
    • increase the revolving credit facility to $1.3 billion (from $1.2 billion previously), and;
    • reduce the outstanding borrowings pursuant the tranche A term loan facility by approximately $1.0 billion, to $1.2 billion, utilizing the proceeds generated from the issuance of the above-mentioned senior secured notes due in 2029 and 2034.

As of September 30, 2024, we had $1.01 billion of aggregate available borrowing capacity pursuant to our $1.3 billion revolving credit facility, net of outstanding borrowings and letters of credit.       

Stock Repurchase Program:

In July, 2024, our Board of Directors authorized a $1.0 billion increase to our stock repurchase program. Pursuant to this 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. 

During the third quarter of 2024, we have repurchased 658,000 shares at an aggregate cost of approximately $153.9 million (approximately $234 per share) pursuant to the program. During the first nine months of 2024, we have repurchased 1.731 million shares at an aggregate cost of approximately $348.9 million (approximately $202 per share) pursuant to the program.

As of September 30, 2024, we had an aggregate available repurchase authorization of approximately $1.074 billion.

Conference call information:

We will hold a conference call for investors and analysts at 9:00 a.m. eastern time on October 25, 2024.  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. A replay of the call will be available for one full year following the live call.

General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures:

One of the nation's largest and most respected providers of hospital and healthcare services, Universal Health Services, Inc. (the "Company") has built an impressive record of achievement and performance. Growing steadily since our inception into an esteemed Fortune 500 corporation, our annual revenues during 2023 were $14.282 billion. UHS ranked #299 on the Fortune 500; and #399 on Forbes' list of America's Largest Public Companies. UHS was again recognized as one of the World's Most Admired Companies by Fortune.  

Our operating philosophy is as effective today as it was upon the Company's founding in 1979, enabling us to provide compassionate care to our patients and their loved ones.  Our strategy includes building or acquiring high quality hospitals in rapidly growing markets, investing in the people and equipment needed to allow each facility to thrive, and becoming the leading healthcare provider in each community we serve.

Headquartered in King of Prussia, PA, UHS has approximately 96,700 employees and, through its subsidiaries, operates 27 inpatient acute care hospitals, 334 inpatient behavioral health facilities, 49 outpatient facilities and ambulatory care access points, an insurance offering, a physician network and various related services located in 39 states, Washington, D.C., the United Kingdom and Puerto Rico. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE:UHT).  For additional information 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 June 30, 2024 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, 2023), 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:  

  • A significant portion of our revenues are derived from federal and state government programs including the Medicare and Medicaid programs. Payments from these programs are subject to statutory and regulatory changes, administrative rulings, interpretations and determinations, requirements for utilization review, and federal and state funding restrictions. Changes to these programs, if adopted, could materially affect program payments which could materially impact our results of operations.
  • The increase in interest rates has substantially increased our borrowings costs and reduced our ability to access the capital markets on favorable terms. Additional increases in interest rates could have a significant unfavorable impact on our future results of operations and the resulting effect on the capital markets could adversely affect our ability to carry out our strategy.
  • The outcome of known and unknown litigation, liabilities and other claims asserted against us and/or our subsidiaries, including, but not limited to, the matters related to Cumberland Hospital for Children and Adolescents, located in New Kent, Virginia, as previously disclosed on Form 8-K on September 30, 2024, and the matter related to the Pavilion Behavioral Health System, located in Champaign, Illinois, as previously disclosed on Forms 8-K on April 1, 2024, September 30, 2024 and October 11, 2024, and Forms 10-Q for the quarterly periods ended March 31, 2024 and June 30, 2024. Although we can make no assurances regarding the ultimate outcome of these matters, or what damages will ultimately be awarded, the final resolution of these matters could have a material adverse effect on the Company.

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 market value of shares of certain equity securities, 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 other filings with the Securities and Exchange Commission including our Report on Form 10-Q for the quarter ended June 30, 2024 and our Report on Form 10-K for the year ended December 31, 2023. 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.

 

Universal Health Services, Inc.

Consolidated Statements of Income

(in thousands, except per share amounts)

(unaudited)










Three months


Nine months


ended September 30,


ended September 30,


2024


2023


2024


2023









Net revenues

$3,963,027


$3,562,774


$11,714,213


$10,578,430









Operating charges:








   Salaries, wages and benefits

1,912,308


1,784,870


5,611,304


5,308,476

   Other operating expenses

1,090,197


941,219


3,165,483


2,758,484

   Supplies expense

390,250


378,667


1,181,886


1,138,950

   Depreciation and amortization

149,567


137,195


438,050


422,560

   Lease and rental expense

36,540


35,466


108,165


105,775


3,578,862


3,277,417


10,504,888


9,734,245









Income from operations

384,165


285,357


1,209,325


844,185









Interest expense, net

44,660


53,378


146,385


153,085

Other (income) expense, net

(2,028)


11,472


3,315


31,797









Income before income taxes

341,533


220,507


1,059,625


659,303









Provision for income taxes

75,623


52,499


233,563


159,618









Net income

265,910


168,008


826,062


499,685









Less:  Net income (loss) attributable to








noncontrolling interests ("NCI")

7,196


1,019


16,362


(1,732)









Net income attributable to UHS

$258,714


$166,989


$809,700


$501,417

























Basic earnings per share attributable to UHS (a)

$3.89


$2.42


$12.11


$7.18









Diluted earnings per share attributable to UHS (a)

$3.80


$2.40


$11.88


$7.09

 

Universal Health Services, Inc.

Footnotes to Consolidated Statements of Income

(in thousands, except per share amounts)

(unaudited)










Three months


Nine months

(a) Earnings per share calculation:

ended September 30,


ended September 30,


2024


2023


2024


2023

Basic and diluted:








Net income attributable to UHS

$258,714


$166,989


$809,700


$501,417

Less: Net income attributable to unvested restricted share grants

0


(52)


(50)


(242)

Net income attributable to UHS - basic and diluted

$258,714


$166,937


$809,650


$501,175









Weighted average number of common shares - basic

66,537


68,867


66,873


69,825









Basic earnings per share attributable to UHS:

$3.89


$2.42


$12.11


$7.18









Weighted average number of common shares

66,537


68,867


66,873


69,825

Add: Other share equivalents

1,571


757


1,297


825

Weighted average number of common shares and equiv. - diluted

68,108


69,624


68,170


70,650









Diluted earnings per share attributable to UHS:

$3.80


$2.40


$11.88


$7.09

 

Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Information ("Supplemental Schedule")

For the Three Months ended September 30, 2024 and 2023

(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


September 30, 2024


revenues


September 30, 2023


revenues









Net income attributable to UHS

$258,714




$166,989



   Depreciation and amortization

149,567




137,195



   Interest expense, net

44,660




53,378



   Provision for income taxes

75,623




52,499



EBITDA net of NCI

$528,564


13.3 %


$410,061


11.5 %









Other (income) expense, net

(2,028)




11,472



Adjusted EBITDA net of NCI

$526,536


13.3 %


$421,533


11.8 %









Net revenues

$3,963,027




$3,562,774











































Calculation of Adjusted Net Income Attributable to UHS










Three months ended


Three months ended


September 30, 2024


September 30, 2023




Per




Per


Amount


Diluted Share


Amount


Diluted Share









Net income attributable to UHS

$258,714


$3.80


$166,989


$2.40

Plus/minus after-tax adjustments:








Unrealized (gain) loss on equity securities

(2,275)


(0.03)


10,528


0.15

Impact of ASU 2016-09, net

(3,928)


(0.06)


-


-

Subtotal adjustments

(6,203)


(0.09)


10,528


0.15

Adjusted net income attributable to UHS

$252,511


$3.71


$177,517


$2.55

 

Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Information ("Supplemental Schedule")

For the Nine Months ended September 30, 2024 and 2023

(in thousands, except per share amounts)

(unaudited)

























Calculation of Earnings/Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA/Adjusted EBITDA net of NCI")










Nine months ended


% Net


Nine months ended


% Net


September 30, 2024


revenues


September 30, 2023


revenues









Net income attributable to UHS

$809,700




$501,417



   Depreciation and amortization

438,050




422,560



   Interest expense, net

146,385




153,085



   Provision for income taxes

233,563




159,618



EBITDA net of NCI

$1,627,698


13.9 %


$1,236,680


11.7 %









Other (income) expense, net

3,315




31,797



Adjusted EBITDA net of NCI

$1,631,013


13.9 %


$1,268,477


12.0 %









Net revenues

$11,714,213




$10,578,430











































Calculation of Adjusted Net Income Attributable to UHS










Nine months ended


Nine months ended


September 30, 2024


September 30, 2023




Per




Per


Amount


Diluted Share


Amount


Diluted Share









Net income attributable to UHS

$809,700


$11.88


$501,417


$7.09

Plus/minus after-tax adjustments:








Unrealized loss on equity securities

4,038


0.06


23,040


0.33

Impact of ASU 2016-09, net

(15,540)


(0.23)


-


-

Subtotal adjustments

(11,502)


(0.17)


23,040


0.33

Adjusted net income attributable to UHS

$798,198


$11.71


$524,457


$7.42

 

Universal Health Services, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)











September 30,



December 31,




2024



2023

Assets







Current assets:







    Cash and cash equivalents


$

106,077


$

119,439

    Accounts receivable, net



2,214,268



2,238,265

    Supplies



220,062



216,988

    Other current assets



261,549



236,658

          Total current assets



2,801,956



2,811,350








Property and equipment



12,448,230



11,777,047

Less: accumulated depreciation



(6,005,664)



(5,652,518)




6,442,566



6,124,529








Other assets:







    Goodwill



3,965,492



3,932,407

    Deferred income taxes



121,904



85,626

    Right of use assets-operating leases



421,441



433,962

    Deferred charges



9,705



6,974

    Other



590,784



572,754

Total Assets


$

14,353,848


$

13,967,602








Liabilities and Stockholders' Equity







Current liabilities:







    Current maturities of long-term debt


$

38,351


$

126,686

    Accounts payable and other liabilities



1,896,234



1,813,015

    Operating lease liabilities



72,801



71,600

    Federal and state taxes



3,802



2,046

          Total current liabilities



2,011,188



2,013,347








Other noncurrent liabilities



660,247



584,007

Operating lease liabilities noncurrent



377,644



382,559

Long-term debt



4,618,060



4,785,783








Redeemable noncontrolling interest



5,623



5,191








UHS common stockholders' equity



6,605,696



6,149,001

Noncontrolling interest



75,390



47,714

          Total equity



6,681,086



6,196,715








Total Liabilities and Stockholders' Equity


$

14,353,848


$

13,967,602

 

Universal Health Services, Inc.

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)


Nine months


ended September 30,


2024


2023





Cash Flows from Operating Activities:




  Net income

$826,062


$499,685

  Adjustments to reconcile net income to net 




cash provided by operating activities:




Depreciation & amortization

438,050


422,560

Gains on sale of assets and businesses

(5,124)


(6,250)

Costs related to extinguishment of debt

3,158


0

Stock-based compensation expense

72,727


65,702

  Changes in assets & liabilities, net of effects from




acquisitions and dispositions:




   Accounts receivable

11,703


(193,108)

   Accrued interest

(1,762)


60

   Accrued and deferred income taxes 

(10,949)


(33,240)

   Other working capital accounts 

1,329


(65,062)

   Medicare accelerated payments and deferred CARES Act and other grants

0


1,764

   Other assets and deferred charges

(5,621)


48,985

   Other 

25,732


13,717

   Accrued insurance expense, net of commercial premiums paid

175,104


141,414

   Payments made in settlement of self-insurance claims

(121,745)


(80,861)

          Net cash provided by operating activities

1,408,664


815,366





Cash Flows from Investing Activities:




   Property and equipment additions

(697,865)


(536,665)

   Proceeds received from sales of assets and businesses

30,219


23,688

   Acquisition of businesses and property

0


(3,728)

   Outflows from foreign exchange contracts that hedge our net U.K. investment

(35,667)


(7,723)

   Decrease in capital reserves of commercial insurance subsidiary 

197


0

          Net cash used in investing activities

(703,116)


(524,428)





Cash Flows from Financing Activities:




   Repayments of long-term debt

(2,471,515)


(54,009)

   Additional borrowings

2,210,248


165,000

   Financing costs

(9,992)


(308)

   Repurchase of common shares

(420,588)


(385,339)

   Dividends paid

(40,302)


(41,964)

   Issuance of common stock

10,864


9,841

   Profit distributions to noncontrolling interests

(5,791)


(5,258)

   Sale of ownership interests to minority members

8,959


408

          Net cash used in financing activities

(718,117)


(311,629)





   Effect of exchange rate changes on cash, cash equivalents and restricted cash

2,696


493

Increase (decrease) in cash, cash equivalents and restricted cash

(9,873)


(20,198)

Cash, cash equivalents and restricted cash, beginning of period

214,470


200,837

Cash, cash equivalents and restricted cash, end of period

$204,597


$180,639





Supplemental Disclosures of Cash Flow Information:




  Interest paid

$144,378


$149,247





  Income taxes paid, net of refunds

$236,975


$191,189





  Noncash purchases of property and equipment

$87,333


$108,412

 

Universal Health Services, Inc.

Supplemental Statistical Information

(unaudited)




























 % Change 


 % Change 








3 Months ended


9 Months ended

Same Facility:







9/30/2024


9/30/2024











Acute Care Hospitals










Revenues







9.2 %


8.5 %

Adjusted Admissions







1.5 %


3.1 %

Adjusted Patient Days







2.0 %


2.3 %

Revenue Per Adjusted Admission







7.0 %


5.0 %

Revenue Per Adjusted Patient Day







6.5 %


5.8 %











Behavioral Health Hospitals










Revenues







10.5 %


10.6 %

Adjusted Admissions







2.2 %


0.3 %

Adjusted Patient Days







1.8 %


1.7 %

Revenue Per Adjusted Admission







8.0 %


10.1 %

Revenue Per Adjusted Patient Day







8.5 %


8.7 %











UHS Consolidated



Third Quarter Ended


Nine Months Ended




9/30/2024


9/30/2023


9/30/2024


9/30/2023











Revenues



$3,963,027


$3,562,774


$11,714,213


$10,578,430

EBITDA net of NCI



$528,564


$410,061


$1,627,698


$1,236,680

EBITDA Margin net of NCI



13.3 %


11.5 %


13.9 %


11.7 %

Adjusted EBITDA net of NCI



$526,536


$421,533


$1,631,013


$1,268,477

Adjusted EBITDA Margin net of NCI



13.3 %


11.8 %


13.9 %


12.0 %











Cash Flow From Operations



$332,977


$161,665


$1,408,664


$815,366

Capital Expenditures  



$247,932


$200,001


$697,865


$536,665

Days Sales Outstanding







52


58





















Debt 







$4,656,411


$4,922,629

UHS' Shareholders Equity







$6,605,696


$6,064,915

Debt / Total Capitalization







41.3 %


44.8 %

Debt / EBITDA net of NCI (1)







2.21


2.97

Debt / Adjusted EBITDA net of NCI (1)






2.21


2.83

Debt / Cash From Operations (1)







2.50


4.42











(1) Latest 4 quarters.










 

Universal Health Services, Inc.



Acute Care Hospital Services



For the Three and Nine months ended



September 30, 2024 and 2023



(in thousands)



(unaudited)






















Same Facility Basis - Acute Care Hospital Services








































Three months ended


Three months ended


Nine months ended


Nine months ended





September 30, 2024


September 30, 2023


September 30, 2024


September 30, 2023





Amount


% of Net
Revenues 


Amount


% of Net
Revenues 


Amount


% of Net
Revenues 


Amount


% of Net
Revenues 



Net revenues


$2,147,732


100.0 %


$1,965,985


100.0 %


$6,355,078


100.0 %


$5,858,015


100.0 %



Operating charges:



















Salaries, wages and benefits


893,436


41.6 %


854,284


43.5 %


2,609,544


41.1 %


2,517,163


43.0 %



Other operating expenses


598,840


27.9 %


543,584


27.6 %


1,754,999


27.6 %


1,604,084


27.4 %



Supplies expense


332,799


15.5 %


323,580


16.5 %


1,011,602


15.9 %


976,712


16.7 %



Depreciation and amortization


93,752


4.4 %


86,437


4.4 %


278,062


4.4 %


273,646


4.7 %



Lease and rental expense


24,202


1.1 %


24,443


1.2 %


72,308


1.1 %


72,459


1.2 %



Subtotal-operating expenses


1,943,029


90.5 %


1,832,328


93.2 %


5,726,515


90.1 %


5,444,064


92.9 %



Income from operations


204,703


9.5 %


133,657


6.8 %


628,563


9.9 %


413,951


7.1 %



Interest expense, net 


1,077


0.1 %


(778)


(0.0) %


3,363


0.1 %


(1,858)


(0.0) %



Other (income) expense, net 


(590)


(0.0) %


(490)


0.0 %


(1,348)


(0.0) %


5,723


0.1 %



Income before income taxes


$204,216


9.5 %


$134,925


6.9 %


$626,548


9.9 %


$410,086


7.0 %




























































All Acute Care Hospital Services








































Three months ended


Three months ended


Nine months ended


Nine months ended





September 30, 2024


September 30, 2023


September 30, 2024


September 30, 2023





Amount


% of Net
Revenues


Amount


% of Net
Revenues 


Amount


% of Net
Revenues


Amount


% of Net
Revenues 



Net revenues


$2,245,517


100.0 %


$2,017,288


100.0 %


$6,604,007


100.0 %


$5,993,899


100.0 %



Operating charges:



















Salaries, wages and benefits


894,551


39.8 %


854,587


42.4 %


2,612,118


39.6 %


2,534,878


42.3 %



Other operating expenses


699,316


31.1 %


596,834


29.6 %


2,009,231


30.4 %


1,731,750


28.9 %



Supplies expense


332,772


14.8 %


323,475


16.0 %


1,011,460


15.3 %


979,185


16.3 %



Depreciation and amortization


94,522


4.2 %


86,535


4.3 %


279,048


4.2 %


274,165


4.6 %



Lease and rental expense


24,490


1.1 %


24,440


1.2 %


72,638


1.1 %


72,629


1.2 %



Subtotal-operating expenses


2,045,651


91.1 %


1,885,871


93.5 %


5,984,495


90.6 %


5,592,607


93.3 %



Income from operations


199,866


8.9 %


131,417


6.5 %


619,512


9.4 %


401,292


6.7 %



Interest expense, net 


1,077


0.0 %


(778)


(0.0) %


3,363


0.1 %


(1,858)


(0.0) %



Other (income) expense, net 


(527)


(0.0) %


(211)


(0.0) %


(354)


(0.0) %


6,921


0.1 %



Income before income taxes


$199,316


8.9 %


$132,406


6.6 %


$616,503


9.3 %


$396,229


6.6 %









































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, 2023 and our Form 10-Q for the quarter ended June 30, 2024 .




















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 Nine months ended



September 30, 2024 and 2023



(in thousands)



(unaudited)






















Same Facility - Behavioral Health Care Services








































Three months ended


Three months ended


Nine months ended


Nine months ended





September 30, 2024


September 30, 2023


September 30, 2024


September 30, 2023





Amount


% of Net
Revenues 


Amount


% of Net
Revenues 


Amount


% of Net
Revenues 


Amount


% of Net
Revenues 



Net revenues


$1,672,453


100.0 %


$1,514,017


100.0 %


$4,972,612


100.0 %


$4,494,791


100.0 %



Operating charges:



















Salaries, wages and benefits


916,435


54.8 %


842,683


55.7 %


2,679,938


53.9 %


2,494,850


55.5 %



Other operating expenses


313,402


18.7 %


294,788


19.5 %


934,107


18.8 %


869,771


19.4 %



Supplies expense


57,723


3.5 %


55,112


3.6 %


171,594


3.5 %


161,371


3.6 %



Depreciation and amortization


52,075


3.1 %


47,472


3.1 %


149,094


3.0 %


139,358


3.1 %



Lease and rental expense


11,806


0.7 %


10,883


0.7 %


34,908


0.7 %


32,684


0.7 %



Subtotal-operating expenses


1,351,441


80.8 %


1,250,938


82.6 %


3,969,641


79.8 %


3,698,034


82.3 %



Income from operations


321,012


19.2 %


263,079


17.4 %


1,002,971


20.2 %


796,757


17.7 %



Interest expense, net 


1,041


0.1 %


1,252


0.1 %


3,076


0.1 %


3,455


0.1 %



Other (income) expense, net 


(794)


(0.0) %


(985)


(0.1) %


(2,341)


(0.0) %


(2,294)


(0.1) %



Income before income taxes


$320,765


19.2 %


$262,812


17.4 %


$1,002,236


20.2 %


$795,596


17.7 %




























































All Behavioral Health Care Services








































Three months ended


Three months ended


Nine months ended


Nine months ended





September 30, 2024


September 30, 2023


September 30, 2024


September 30, 2023





Amount


% of Net
Revenues


Amount


% of Net
Revenues 


Amount


% of Net
Revenues


Amount


% of Net
Revenues 



Net revenues


$1,714,914


100.0 %


$1,542,695


100.0 %


$5,102,290


100.0 %


$4,575,378


100.0 %



Operating charges:



















Salaries, wages and benefits


919,301


53.6 %


844,244


54.7 %


2,690,118


52.7 %


2,498,338


54.6 %



Other operating expenses


354,331


20.7 %


322,208


20.9 %


1,054,007


20.7 %


949,958


20.8 %



Supplies expense


57,830


3.4 %


55,272


3.6 %


172,031


3.4 %


161,597


3.5 %



Depreciation and amortization


52,452


3.1 %


47,720


3.1 %


150,949


3.0 %


140,117


3.1 %



Lease and rental expense


11,956


0.7 %


10,911


0.7 %


35,235


0.7 %


32,834


0.7 %



Subtotal-operating expenses


1,395,870


81.4 %


1,280,355


83.0 %


4,102,340


80.4 %


3,782,844


82.7 %



Income from operations


319,044


18.6 %


262,340


17.0 %


999,950


19.6 %


792,534


17.3 %



Interest expense, net 


1,041


0.1 %


1,252


0.1 %


3,076


0.1 %


3,456


0.1 %



Other (income) expense, net 


(861)


(0.1) %


(1,080)


(0.1) %


(2,408)


(0.0) %


(3,139)


(0.1) %



Income before income taxes


$318,864


18.6 %


$262,168


17.0 %


$999,282


19.6 %


$792,217


17.3 %

























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 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, 2023 and our Form 10-Q for the quarter ended June 30, 2024.




















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

September 30, 2024 and 2023

(unaudited)














AS REPORTED:









































ACUTE


BEHAVIORAL HEALTH



09/30/24


09/30/23


%  change


09/30/24


09/30/23


%  change














Hospitals owned and leased


27


27


0.0 %


334


331


0.9 %

Average licensed beds


6,657


6,667


-0.1 %


24,446


24,194


1.0 %

Average available beds


6,485


6,495


-0.2 %


24,346


24,094


1.0 %

Patient days


393,521


384,348


2.4 %


1,630,369


1,600,740


1.9 %

Average daily census


4,277.4


4,177.7


2.4 %


17,721.4


17,399.3


1.9 %

Occupancy-licensed beds


64.3 %


62.7 %


2.5 %


72.5 %


71.9 %


0.8 %

Occupancy-available beds


66.0 %


64.3 %


2.5 %


72.8 %


72.2 %


0.8 %

Admissions


81,731


80,074


2.1 %


121,421


118,487


2.5 %

Length of stay


4.8


4.8


0.3 %


13.4


13.5


-0.6 %














Inpatient revenue


$12,277,563


$10,916,060


12.5 %


$2,835,301


$2,703,478


4.9 %

Outpatient revenue


8,573,270


7,480,353


14.6 %


268,182


259,060


3.5 %

Total patient revenue


20,850,833


18,396,413


13.3 %


3,103,483


2,962,538


4.8 %

Other revenue


266,822


251,985


5.9 %


84,770


81,149


4.5 %

Gross revenue


21,117,655


18,648,398


13.2 %


3,188,253


3,043,687


4.7 %

Total deductions


18,872,138


16,631,110


13.5 %


1,473,339


1,500,992


-1.8 %

Net revenue 


$2,245,517


$2,017,288


11.3 %


$1,714,914


$1,542,695


11.2 %



























SAME FACILITY:




























ACUTE


BEHAVIORAL HEALTH



09/30/24


09/30/23


%  change


09/30/24


09/30/23


%  change














Hospitals owned and leased


27


27


0.0 %


333


333


0.0 %

Average licensed beds


6,657


6,667


-0.1 %


24,277


24,012


1.1 %

Average available beds


6,485


6,495


-0.2 %


24,177


23,912


1.1 %

Patient days


393,521


384,348


2.4 %


1,618,344


1,586,108


2.0 %

Average daily census


4,277.4


4,177.7


2.4 %


17,590.7


17,240.3


2.0 %

Occupancy-licensed beds


64.3 %


62.7 %


2.5 %


72.5 %


71.8 %


0.9 %

Occupancy-available beds


66.0 %


64.3 %


2.5 %


72.8 %


72.1 %


0.9 %

Admissions


81,731


80,074


2.1 %


120,515


117,635


2.4 %

Length of stay


4.8


4.8


0.3 %


13.4


13.5


-0.4 %

 

Universal Health Services, Inc.

Selected Hospital Statistics

For the Nine Months ended

September 30, 2024 and 2023

(unaudited)














AS REPORTED:









































ACUTE


BEHAVIORAL HEALTH



09/30/24


09/30/23


%  change


09/30/24


09/30/23


%  change














Hospitals owned and leased


27


27


0.0 %


334


331


0.9 %

Average licensed beds


6,657


6,697


-0.6 %


24,413


24,203


0.9 %

Average available beds


6,485


6,525


-0.6 %


24,313


24,103


0.9 %

Patient days


1,199,271


1,172,957


2.2 %


4,858,431


4,761,887


2.0 %

Average daily census


4,376.9


4,296.5


1.9 %


17,731.5


17,442.8


1.7 %

Occupancy-licensed beds


65.7 %


64.2 %


2.5 %


72.6 %


72.1 %


0.8 %

Occupancy-available beds


67.5 %


65.8 %


2.5 %


72.9 %


72.4 %


0.8 %

Admissions


247,170


239,300


3.3 %


361,149


358,703


0.7 %

Length of stay


4.9


4.9


0.0 %


13.5


13.3


1.7 %














Inpatient revenue


$37,522,395


$33,278,396


12.8 %


$8,375,470


$8,001,838


4.7 %

Outpatient revenue


25,553,451


22,292,249


14.6 %


833,260


812,467


2.6 %

Total patient revenue


63,075,846


55,570,645


13.5 %


9,208,730


8,814,305


4.5 %

Other revenue


747,424


714,877


4.6 %


247,182


220,393


12.2 %

Gross revenue


63,823,270


56,285,522


13.4 %


9,455,912


9,034,698


4.7 %

Total deductions


57,219,263


50,291,623


13.8 %


4,353,622


4,459,320


-2.4 %

Net revenue 


$6,604,007


$5,993,899


10.2 %


$5,102,290


$4,575,378


11.5 %



























SAME FACILITY:




























ACUTE


BEHAVIORAL HEALTH



09/30/24


09/30/23


%  change


09/30/24


09/30/23


%  change














Hospitals owned and leased


27


27


0.0 %


333


333


0.0 %

Average licensed beds


6,657


6,634


0.3 %


24,189


24,060


0.5 %

Average available beds


6,485


6,462


0.4 %


24,089


23,960


0.5 %

Patient days


1,199,271


1,166,693


2.8 %


4,819,550


4,726,531


2.0 %

Average daily census


4,376.9


4,273.6


2.4 %


17,589.6


17,313.3


1.6 %

Occupancy-licensed beds


65.7 %


64.4 %


2.1 %


72.7 %


72.0 %


1.1 %

Occupancy-available beds


67.5 %


66.1 %


2.1 %


73.0 %


72.3 %


1.1 %

Admissions


247,170


238,237


3.7 %


358,114


356,028


0.6 %

Length of stay


4.9


4.9


0.0 %


13.5


13.3


1.5 %

 

 

Cision View original content:https://www.prnewswire.com/news-releases/universal-health-services-inc-announces-2024-third-quarter-financial-results-302286542.html

SOURCE Universal Health Services, Inc.

FAQ

What was UHS's earnings per share in Q3 2024?

UHS reported earnings of $3.80 per diluted share in Q3 2024, compared to $2.40 per diluted share in Q3 2023.

How much did UHS's revenue grow in Q3 2024?

UHS's net revenues increased by 11.2% to $3.963 billion in Q3 2024, compared to $3.563 billion in Q3 2023.

How many shares did UHS repurchase in Q3 2024?

UHS repurchased 658,000 shares at an aggregate cost of approximately $153.9 million during Q3 2024.

What was UHS's EBITDA margin in Q3 2024?

UHS's EBITDA margin was 13.3% of net revenues in Q3 2024, up from 11.5% in Q3 2023.

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Nov 25, 2024
UNIVERSAL HEALTH REALTY INCOME TRUST ANNOUNCES DIVIDEND INCREASE
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UNIVERSAL HEALTH REALTY INCOME TRUST ANNOUNCES DIVIDEND
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UNIVERSAL HEALTH SERVICES, INC. ANNOUNCES 2024 SECOND QUARTER FINANCIAL RESULTS, INCREASES 2024 FULL YEAR OPERATING RESULTS FORECAST AND ANNOUNCES $1 BILLION INCREASE TO STOCK REPURCHASE PROGRAM AUTHORIZATION
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