U.S. Physical Therapy, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 28, 2024 at 04:45 pm EST
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U.S. Physical Therapy, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 154.8 million compared to USD 141.18 million a year ago. Net income was USD 0.656 million compared to USD 2.61 million a year ago. Basic loss per share from continuing operations was USD 0.38 compared to USD 0.01 a year ago.
For the full year, revenue was USD 604.8 million compared to USD 553.14 million a year ago. Net income was USD 28.24 million compared to USD 32.16 million a year ago. Basic earnings per share from continuing operations was USD 1.28 compared to USD 2.25 a year ago. Diluted earnings per share from continuing operations was USD 1.28 compared to USD 2.25 a year ago.
U.S. Physical Therapy, Inc. is engaged in physical therapy operations and provides industrial injury prevention services. The Company is engaged in physical therapy operations primarily through its subsidiary, clinic partnerships. The Company's clinics provide preventative and post-operative care for a variety of orthopedic-related disorders and sports-related injuries, treatment for neurologically related injuries and rehabilitation of injured workers. It operates approximately 683 outpatient physical therapy clinics in 42 states. In addition to owning and operating clinics, the Company manages about 41 physical therapy facilities for unaffiliated third parties, including hospitals and physician groups. The Company also has an industrial injury prevention business which provides onsite services for clientsâ employees, including injury prevention and rehabilitation, performance optimization, post-offer employment testing, functional capacity evaluations, and ergonomic assessments.