Net Income Falls, Revenues Rise for UHS

The King of Prussia, Pennsylvania-based company experienced a mixed bag in its latest earnings report.

Universal Health Services, Inc., (UHS) lowered its full-year earnings guidance on a lukewarm earnings report released Thursday evening.

In yet another quarter, the King of Prussia, Pennsylvania-based hospital management company saw its net revenues rise by over 6%, reaching $2.82 billion in Q3. Still, UHS' net income slipped to $97.2 million, down from $171.1 million in Q3 2018. 

As a result of mixed earnings, UHS has lowered its year-end financial outlook to a range of $9.60 to $9.90 per diluted share, down from a range of $9.70 to $10.40 per share.

Last quarter, UHS' earnings were largely overshadowed by a settlement with the Department of Justice over investigations related to the company's behavioral health facilities.

Related: UHS' $127M DOJ Settlement Overshadows Earnings

UHS' stock rose during the after-hours session, trading up slightly. 

UHS' EBITDA of net income attributable to noncontrolling interests fell roughly $90 million year-over-year to $297.4 million.

During Q3, UHS repurchased over 550,000 shares for $79.5 million.

ADDITIONAL UHS Q3 EARNINGS REPORT HIGHLIGHTS:

• UHS reported capital expenditures of $156.3 million, up from $151 million this time last year.
• The company also reported an unfavorable after-tax impact of $6.2 million.
• Adjusted admissions for acute care services increased 7.4% year-over-year and adjusted patient days increased 7%. 

For complete financial information, review UHS' filing with the Securities and Exchange Commission.