Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Universal Health Services    UHS

UNIVERSAL HEALTH SERVICES

(UHS)
  Report  
Delayed Quote. Delayed Nyse - 12/06 04:02:36 pm
144.71 USD   +2.02%
12/04UNIVERSAL HEALTH SERVICES : Ex-dividend day for
FA
11/20UNIVERSAL HEALTH SERVICES, INC. : Announces Dividend
PR
11/20UNIVERSAL HEALTH SERVICES : Dividends
CO
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Universal Health Services, Inc. : Reports 2019 Third Quarter Financial Results And Revises 2019 Full Year Earnings Guidance Range

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/24/2019 | 04:17pm EST

KING OF PRUSSIA, Pa., Oct. 24, 2019 /PRNewswire/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that its reported net income attributable to UHS was $97.2 million, or $1.10 per diluted share, during the third quarter of 2019 as compared to $171.7 million, or $1.84 per diluted share, during the comparable quarter of 2018.  Net revenues increased 6.6% to $2.822 billion during the third quarter of 2019 as compared to $2.649 billion during the third quarter of 2018.

For the three-month period ended September 30, 2019, our adjusted net income attributable to UHS, as calculated on the attached Schedule of Non-GAAP Supplemental Information ("Supplemental Schedule"), was $176.3 million, or $1.99 per diluted share, as compared to $208.8 million, or $2.23 per diluted share, during the third quarter of 2018. 

Included in our reported and our adjusted net income attributable to UHS is a pre-tax unrealized loss of $15.2 million, or $.13 per diluted share after-tax, during the third quarter of 2019, as compared to a pre-tax unrealized gain of $10.5 million, or $.09 per diluted share after-tax, during the third quarter of 2018. These unrealized losses/gains, which are included in "Other (income) expense, net" on the accompanying consolidated statements of income, resulted from decreases/increases in the market value of shares of certain marketable securities held for investment and classified as available for sale.  

As reflected on the Supplemental Schedule, included in our reported results during the third quarter of 2019, is an aggregate net unfavorable after-tax impact of $79.1 million, or $.89 per diluted share, resulting from: (i) an unfavorable after-tax impact of $74.6 million, or $.84 per diluted share, resulting from a $97.6 million provision for asset impairment, as discussed below; (ii) an unfavorable after-tax impact of $6.2 million, or $.07 per diluted share, resulting from the net estimated federal and state income taxes due on the portion of the aggregate pre-tax reserve ("DOJ Reserve") established in connection with the previously disclosed agreement in principle with the Department Of Justice, Civil Division ("DOJ"), that is estimated to be non-deductible for income tax purposes, and; (iii) a favorable after-tax impact of $1.7 million, or $.02 per diluted share, resulting from our adoption of ASU 2016-09, "Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU 2016-09").

As reflected on the Supplemental Schedule, included in our reported results during the third quarter of 2018, is a net aggregate unfavorable after-tax impact of $37.1 million, or $.39 per diluted share, substantially all of which resulted from an unfavorable after-tax impact of $36.6 million, or $.39 per diluted share, resulting from a $48.0 million pre-tax increase in the DOJ Reserve. 

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 $297.4 million during the third quarter of 2019 as compared to $377.7 million during the third quarter of 2018.  Our adjusted earnings before interest, taxes, depreciation & amortization ("Adjusted EBITDA net of NCI"), which excludes the impacts of other (income) expense, net, as well as the unfavorable impact of the above-mentioned provision for asset impairment and increase in the DOJ Reserve, was $404.4 million during the third quarter of 2019 as compared to $414.3 million during the third quarter of 2018.

Consolidated Results of Operations, As Reported and As Adjusted  – Nine-month periods ended September 30, 2019 and 2018:
Reported net income attributable to UHS was $569.7 million, or $6.35 per diluted share, during the nine-month period ended September 30, 2019 as compared to $621.6 million, or $6.60 per diluted share, during the comparable nine-month period of 2018.  Net revenues increased 5.8% to $8.482 billion during the first nine months of 2019 as compared to $8.018 billion during the first nine months of 2018.

For the nine-month period ended September 30, 2019, our adjusted net income attributable to UHS, as calculated on the attached Supplemental Schedule, was $646.7 million, or $7.21 per diluted share, as compared to $674.3 million, or $7.16 per diluted share, during the comparable nine-month period of 2018. 

Included in our reported and our adjusted net income attributable to UHS is a pre-tax unrealized loss of $12.5 million, or $.11 per diluted share after-tax, during the first nine months of 2019, as compared to a pre-tax unrealized gain of $18.5 million, or $.15 per diluted share after-tax, during the comparable nine-month period of 2018. As discussed above, these unrealized losses/gains resulted from a decreases/increases in the market value of shares of certain marketable securities held for investment and classified as available for sale.  

As reflected on the Supplemental Schedule, included in our reported results during the nine-month period ended September 30, 2019, is an aggregate net unfavorable after-tax impact of $77.0 million, or $.86 per diluted share, resulting from: (i) an unfavorable after-tax impact of $74.6 million, or $.84 per diluted share, resulting from a $97.6 million provision for asset impairment, as discussed below; (ii) an unfavorable after-tax impact of $14.6 million, or $.16 per diluted share, resulting from an increase in the DOJ Reserve and the net estimated federal and state income taxes due on the portion of the DOJ Reserve that is estimated to be non-deductible for income tax purposes, and; (iii) a favorable after-tax impact of $12.1 million, or $.14 per diluted share, resulting from our adoption of ASU 2016-09.

As reflected on the Supplemental Schedule, included in our reported results during the nine-month period ended September 30, 2018, is a net aggregate unfavorable after-tax impact of $52.6 million, or $.56 per diluted share, consisting of: (i) an unfavorable after-tax impact of $53.7 million, or $.57 per diluted share, resulting from a $70.4 million pre-tax increase in the DOJ Reserve, partially offset by; (ii) a favorable after-tax impact of $1.1 million, or $.01 per diluted share, resulting from our adoption of ASU 2016-09. 

As calculated on the attached Supplemental Schedule, our earnings before interest, taxes, depreciation & amortization ("EBITDA net of NCI"), was $1.222 billion during the nine-month period ended September 30, 2019 as compared to $1.264 billion during the nine-month period ended September 30, 2018.  Our adjusted earnings before interest, taxes, depreciation & amortization ("Adjusted EBITDA net of NCI"), which excludes the impacts of other (income) expense, net, as well as the unfavorable impact of the above-mentioned provision for asset impairment and increase in the DOJ Reserve, was $1.336 billion during the nine-month period ended September 30, 2019 as compared to $1.308 billion during the nine-month period ended September 30, 2018.

Acute Care Services – Three and nine-month periods ended September 30, 2019 and 2018:
During the third quarter of 2019, at our acute care hospitals owned during both periods ("same facility basis"), adjusted admissions (adjusted for outpatient activity) increased 7.4% and adjusted patient days increased 7.0%, as compared to the third quarter of 2018. At these facilities, net revenue per adjusted admission increased 1.6% while net revenue per adjusted patient day increased 2.0% during the third quarter of 2019 as compared to the third quarter of 2018. Net revenues from our acute care services on a same facility basis increased 9.3% during the third quarter of 2019 as compared to the third quarter of 2018.

During the nine-month period ended September 30, 2019, at our acute care hospitals on a same facility basis, adjusted admissions increased 5.8% and adjusted patient days increased 5.5%, as compared to the first nine months of 2018. At these facilities, net revenue per adjusted admission increased 1.5% while net revenue per adjusted patient day increased 1.7% during the nine-month period ended September 30, 2019 as compared to the comparable nine-month period of 2018. Net revenues from our acute care services on a same facility basis increased 7.6% during the first nine months of 2019 as compared to the comparable period of 2018.

Behavioral Health Care Services – Three and nine-month periods ended September 30, 2019 and 2018:
During the third quarter of 2019, at our behavioral health care facilities on a same facility basis, adjusted admissions increased 0.5% while adjusted patient days increased 0.4% as compared to the third quarter of 2018. At these facilities, net revenue per adjusted admission increased 2.0% while net revenue per adjusted patient day increased 2.2% during the third quarter of 2019 as compared to the comparable quarter in 2018. On a same facility basis, our behavioral health care services' net revenues increased 2.1% during the third quarter of 2019 as compared to the third quarter of 2018.   

During the nine-month period ended September 30, 2019, at our behavioral health care facilities on a same facility basis, adjusted admissions increased 1.3% while adjusted patient days increased 0.5% as compared to the comparable nine-month period of 2018. At these facilities, net revenue per adjusted admission increased 1.5% while net revenue per adjusted patient day increased 2.3% during the first nine months of 2019 as compared to the comparable nine-month period in 2018. On a same facility basis, our behavioral health care services' net revenues increased 2.6% during the nine-month period ended September 30, 2019 as compared to the comparable nine-month period of 2018.   

Net Cash Provided by Operating Activities and Share Repurchase Program:
For the nine months ended September 30, 2019, our net cash provided by operating activities increased to $1.049 billion as compared to $949 million generated during the comparable nine-month period of 2018. The $100 million net increase was due to: (i) a favorable change of $69 million resulting from an increase in net income plus/minus depreciation and amortization expense, stock-based compensation expense, provision for asset impairment and net gains on sale of assets and businesses; (ii) a favorable change of $37 million in accounts receivable, and; (iii) $6 million of other combined net unfavorable changes.   

In conjunction with our January 1, 2019 adoption of ASU 2017-12, "Targeted Improvements to Accounting for Hedging Activities", we have included the net cash inflows/outflows, which were received/paid in connection with foreign exchange contracts that hedge our investment in the U.K., in investing cash flows on the consolidated statements of cash flows. For the nine-month periods ended September 30, 2019 and 2018, we have received $90.3 million and $26.1 million, respectively, of net cash inflows in connection with foreign exchange contracts that hedge our investment in the U.K. Prior to 2019, these net inflows/outflows were included in operating cash flows. Prior period amounts have been reclassified to conform with current year presentation on the consolidated statements of cash flows included herein.

In July, 2019, our Board of Directors authorized a $1.0 billion increase to our stock repurchase program, which increased the aggregate authorization to $2.7 billion from the previous $1.7 billion authorization approved in various increments since 2014. Pursuant to this program, which had an aggregate available repurchase authorization of $937.3 million as of September 30, 2019, 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. 

In conjunction with our stock repurchase program, during the third quarter of 2019, we have repurchased 550,564 shares at an aggregate cost of $79.5 million (approximately $144 per share). During the first nine months of 2019, we have repurchased approximately 4.11 million shares at an aggregate cost of $525.0 million (approximately $128 per share). Since inception of the program in 2014 through September 30, 2019, we have repurchased approximately 14.78 million shares at an aggregate cost of approximately $1.76 billion (approximately $119 per share). 

Update on Agreement in Principle with DOJ's Civil Division and DOJ Reserve:
As previously disclosed on July 25, 2019, we have reached an agreement in principle with the DOJ's Civil Division, and on behalf of various states' attorneys general offices, to resolve the civil aspect of the government's investigation of our behavioral health care facilities for $127 million subject to requisite approvals and preparation and execution of definitive settlement and related agreements.  At that time, we also disclosed that we were further advised that the previously disclosed investigations being conducted by the DOJ's Criminal Frauds Section in connection with these matters had been closed. 

In connection with the agreement in principle with the DOJ's Civil Division, during the nine-month period ended September 30, 2019, we recorded a pre-tax increase of approximately $11.0 million in the DOJ Reserve, which includes related fees and costs due to or on behalf of third-parties. The aggregate pre-tax DOJ Reserve amounted to approximately $134 million as of September 30, 2019 and approximately $123 million as of December 31, 2018.

In late August, 2019, we received the initial draft of the settlement agreement from the DOJ's Civil Division.  Negotiations regarding the terms and conditions of the settlement agreement continue. Based upon the terms and provisions included in the draft settlement agreement, and related subsequent discussions, our financial statements for each of the three and nine-month periods ended September 30, 2019 include an unfavorable provision for income taxes of $6.2 million resulting from the net estimated federal and state income taxes due on the portion of the aggregate pre-tax DOJ Reserve that is estimated to be non-deductible for income tax purposes.  

Since the agreement in principle with the DOJ's Civil Division is subject to certain required approvals and negotiation and execution of definitive settlement agreements, as well as finalization and execution of a corporate integrity agreement with the Office of Inspector General for the United States Department of Health and Human Services, we can provide no assurance that definitive agreements will ultimately be finalized. We therefore can provide no assurance that final amounts paid in settlement or otherwise, or associated costs, or the income tax deductibility of such payments, will not differ materially from our established reserve and assumptions related to income tax deductibility. Please see Item 1-Legal Proceedings in our Form 10-Q for the quarterly period ended June 30, 2019 for additional disclosure in connection with this matter.

Provision for Asset Impairment – Foundations Recovery Network    
Our financial results for the three and nine-month periods ended September 30, 2019, include an aggregate pre-tax provision for asset impairment of $97.6 million recorded in connection with Foundations Recovery Network, L.L.C. ("Foundations"), which was acquired by us in 2015. This pre-tax provision for asset impairment includes: (i) a $74.9 million impairment provision to write-off the carrying value of the Foundations' tradename intangible asset, and; (ii) a $22.7 million impairment provision to reduce the carrying value of real property assets of certain Foundations' facilities.

This provision for asset impairment, which is included in other operating expenses in our consolidated statements of income for the three and nine-month periods ended September 30, 2019, was recorded after evaluation of the estimated fair value of the Foundations' tradename as well as certain related real property assets. The provision for asset impairment was impacted by the following: (i) recent decisions made by management to cancel the opening of future planned de novo facilities; (ii) reductions in projected future patient volumes, revenues and cash flows based upon the operating trends and financial results experienced by existing facilities, and; (iii) competitive pressures experienced in certain markets.    

Revision of 2019 Full Year Earnings Guidance Range:
Based upon the operating trends and financial results experienced during the first nine months of 2019, we are revising our estimated range of adjusted net income attributable to UHS for the year ended December 31, 2019 to $9.60 to $9.90 per diluted share as compared to the previously provided range of $9.70 to $10.40 per diluted share. This revised estimated guidance range decreases the lower end of the previously provided range 1.0% and decreases the upper end of the previously provided range by 4.8%.   

Contributing to, and included in, the revised estimated earnings guidance range for the year ended December 31, 2019 is the above-mentioned unrealized loss of $.11 per diluted share ($12.5 million pre-tax), recorded during the first nine months of 2019 resulting from a decrease in the market value of shares of certain marketable securities held for investment and classified as available for sale.  For comparative purposes, included in our reported and our adjusted net income attributable to UHS during the first nine months of 2018, was an unrealized gain of $.15 per diluted share ($18.5 million pre-tax), resulting from an increase in the market value of these marketable securities.  The revised estimated earnings guidance range for the full year of 2019 assumes no change in the market value of these marketable securities during the fourth quarter of 2019.    

This revised estimated earnings guidance range excludes: (i) the unfavorable after-tax impact of $14.6 million, or $.16 per diluted share, representing the current year changes in the DOJ Reserve, and related provision for income taxes, established in connection with the civil aspects of the government's investigation of our certain of our behavioral health care facilities, as discussed above; (ii) the unfavorable after-tax impact of $74.6 million, or $.84 per diluted share, resulting from a $97.6 million provision for asset impairment, as discussed below, partially offset by; (iii) the favorable impact of $12.1 million, or $.14 per diluted share, on our provision for income taxes and net income attributable to UHS resulting from of our adoption of ASU 2016-09. 

In addition, this revised estimated earnings guidance range excludes the impact of future items, if applicable and material, that are nonrecurring or non-operational in nature including items such as, but not limited to, gains/losses on sales of assets and businesses, costs related to extinguishment of debt, reserves for settlements, legal judgments and lawsuits, impairments of long-lived assets, impact of share repurchases and other amounts that may be reflected in our financial statements that relate to prior periods. 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 October 25, 2019. The dial-in number is 1-877-648-7971. 

A live broadcast of the conference call will be available on our website at www.uhsinc.com.  Also, a replay of the call will be available following the conclusion of the live call and will be available for one full year.

Adoption of ASU 2016-02, "Leases (Topic 842): Amendments to the FASB Accounting Standards Codification":
Effective January 1, 2019, we adopted ASU 2016-02 which requires companies to, among other things, recognize lease assets and lease liabilities on the balance sheet. As a result of our adoption of ASU 2016-02, our consolidated balance sheet as of September 30, 2019 includes right of use assets-operating leases ($329.3 million) and operating lease liabilities ($55.1 million current and $274.2 million noncurrent).  Prior period financial statements were not adjusted for the effects of this new standard.     

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. has built an impressive record of achievement and performance. Growing steadily since our inception into an esteemed Fortune 500 corporation, our annual revenues were $10.77 billion during 2018. In 2019, UHS was again recognized as one of the World's Most Admired Companies by Fortune; ranked #293 on the Fortune 500; and in 2017, listed #275 in Forbes inaugural ranking of America's Top 500 Public Companies.

Our operating philosophy is as effective today as it was 40 years ago, 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 more than 87,000 employees and through its subsidiaries operates 26 acute care hospitals, 327 behavioral health facilities, 40 outpatient facilities and ambulatory care access points, an insurance offering, a physician network and various related services located in 37 U.S. states, Washington, D.C., Puerto Rico and the United Kingdom. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE:UHT).  For additional information on the Company, visit our web site: http://www.uhsinc.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 1A-Risk Factors and in Item 7-Forward-Looking Statements and Risk Factors in our Form 10-K for the year ended December 31, 2018 and in Item 2-Forward-Looking Statements and Risk Factors in our Form 10-Q for the quarterly period ended June 30, 2019), may cause the results to differ materially from those anticipated in the forward-looking statements.  Many of the factors that will determine our future results are beyond our capability to control or predict. 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.

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 in each year of material items impacting our net income attributable to UHS, such as, changes in the reserve established in connection with our discussions with the Department of Justice, our adoption of ASU 2016-09 and other potential material items that are nonrecurring or non-operational in nature including, but not limited to, impairments of 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, 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 Reports on Form 10-K for the year ended December 31, 2018 and Form 10-Q for the quarterly period ended June 30, 2019. 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,


2019


2018


2019


2018









Net revenues

$2,822,453


$2,648,913


$8,482,012


$8,017,782









Operating charges:








   Salaries, wages and benefits

1,408,226


1,316,710


4,157,253


3,922,832

   Other operating expenses

762,174


651,442


2,079,518


1,896,745

   Supplies expense

313,936


285,201


927,256


867,863

   Depreciation and amortization

121,528


112,286


362,736


334,970

   Lease and rental expense

27,660


26,110


80,320


79,932


2,633,524


2,391,749


7,607,083


7,102,342

Income from operations

188,929


257,164


874,929


915,440

Interest expense, net

41,447


39,506


123,574


115,082

Other (income) expense, net

9,407


(11,409)


6,176


(26,717)

Income before income taxes

138,075


229,067


745,179


827,075

Provision for income taxes

37,205


54,186


165,646


192,814

Net income

100,870


174,881


579,533


634,261

Less:  Net income attributable to








noncontrolling interests ("NCI")

3,680


3,135


9,855


12,631

Net income attributable to UHS

$97,190


$171,746


$569,678


$621,630

























Basic earnings per share attributable to UHS (a)

$1.10


$1.85


$6.36


$6.63









Diluted earnings per share attributable to UHS (a)

$1.10


$1.84


$6.35


$6.60









 

 

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,


2019


2018


2019


2018

Basic and diluted:








Net income attributable to UHS

$97,190


$171,746


$569,678


$621,630

Less: Net income attributable to unvested restricted share grants

(243)


(317)


(1,414)


(813)

Net income attributable to UHS - basic and diluted

$96,947


$171,429


$568,264


$620,817









Weighted average number of common shares - basic

87,952


92,849


89,288


93,639









Basic earnings per share attributable to UHS:

$1.10


$1.85


$6.36


$6.63









Weighted average number of common shares

87,952


92,849


89,288


93,639

Add: Other share equivalents

403


481


231


459

Weighted average number of common shares and equiv. - diluted

88,355


93,330


89,519


94,098









Diluted earnings per share attributable to UHS:

$1.10


$1.84


$6.35


$6.60









 

 

Universal Health Services, Inc.

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

For the Three Months ended September 30, 2019 and 2018

(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, 2019


revenues


September 30, 2018


revenues









Net income attributable to UHS

$97,190




$171,746



   Depreciation and amortization

121,528




112,286



   Interest expense, net

41,447




39,506



   Provision for income taxes

37,205




54,186



EBITDA net of NCI

$297,370


10.5%


$377,724


14.3%









Other (income) expense, net

9,407




(11,409)



Increase in DOJ Reserve

-




47,981



Provision for asset impairment

97,631




-



Adjusted EBITDA net of NCI

$404,408


14.3%


$414,296


15.6%









Net revenues

$2,822,453




$2,648,913











































Calculation of Adjusted Net Income Attributable to UHS










Three months ended


Three months ended


September 30, 2019


September 30, 2018




Per




Per


Amount


Diluted Share


Amount


Diluted Share









Net income attributable to UHS

$97,190


$1.10


$171,746


$1.84

Plus/minus after-tax adjustments:








Increase in DOJ Reserve and related income taxes

6,214


0.07


36,578


0.39

Impact of ASU 2016-09

(1,724)


(0.02)


481


-

Provision for asset impairment, after-tax

74,583


0.84


-


-

Subtotal adjustments

79,073


0.89


37,059


0.39

Adjusted net income attributable to UHS

$176,263


$1.99


$208,805


$2.23









 

 

Universal Health Services, Inc.

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

For the Nine Months ended September 30, 2019 and 2018

(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, 2019


revenues


September 30, 2018


revenues









Net income attributable to UHS

$569,678




$621,630



   Depreciation and amortization

362,736




334,970



   Interest expense, net

123,574




115,082



   Provision for income taxes

165,646




192,814



EBITDA net of NCI

$1,221,634


14.4%


$1,264,496


15.8%









Other (income) expense, net

6,176




(26,717)



Increase in DOJ Reserve

10,978




70,432



Provision for asset impairment

97,631




-



Adjusted EBITDA net of NCI

$1,336,419


15.8%


$1,308,211


16.3%









Net revenues

$8,482,012




$8,017,782











































Calculation of Adjusted Net Income Attributable to UHS










Nine months ended


Nine months ended


September 30, 2019


September 30, 2018




Per




Per


Amount


Diluted Share


Amount


Diluted Share









Net income attributable to UHS

$569,678


$6.35


$621,630


$6.60

Plus/minus after-tax adjustments:








Increase in DOJ Reserve and related income taxes

14,583


0.16


53,694


0.57

Impact of ASU 2016-09

(12,122)


(0.14)


(1,056)


(0.01)

Provision for asset impairment, after-tax

74,583


0.84


-


-

Subtotal adjustments

77,044


0.86


52,638


0.56

Adjusted net income attributable to UHS

$646,722


$7.21


$674,268


$7.16









 

 

Universal Health Services, Inc.

Consolidated Statements of Comprehensive Income

(in thousands)

(unaudited)










Three months


Nine months


ended September 30,


ended September 30,


2019


2018


2019


2018









Net income

$100,870


$174,881


$579,533


$634,261

Other comprehensive income (loss):








   Unrealized derivative gains (losses) on cash flow hedges

0


(1,924)


(3,925)


(345)

   Foreign currency translation adjustment

(10,089)


(12,323)


(19,192)


(15,480)

Other comprehensive income (loss) before tax

(10,089)


(14,247)


(23,117)


(15,825)

Income tax expense (benefit) related to items of other comprehensive income (loss)

174


(457)


(676)


(82)

Total other comprehensive income (loss), net of tax

(10,263)


(13,790)


(22,441)


(15,743)









Comprehensive income

90,607


161,091


557,092


618,518

Less: Comprehensive income attributable to noncontrolling interests

3,680


3,135


9,855


12,631

Comprehensive income attributable to UHS

$86,927


$157,956


$547,237


$605,887









 

 

Universal Health Services, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)











September 30,



December 31,




2019



2018

Assets







Current assets:







    Cash and cash equivalents


$

58,905


$

105,220

    Accounts receivable, net



1,544,077



1,509,909

    Supplies



156,285



148,206

    Other current assets



171,360



174,467

          Total current assets



1,930,627



1,937,802








Property and equipment



8,967,340



8,563,455

Less: accumulated depreciation



(4,008,931)



(3,715,515)




4,958,409



4,847,940








Other assets:







    Goodwill



3,827,867



3,844,628

    Deferred income taxes



19,199



5,280

    Right of use assets-operating leases



329,328



0

    Deferred charges



6,926



8,772

    Other



522,045



621,058

Total Assets


$

11,594,401


$

11,265,480








Liabilities and Stockholders' Equity







Current liabilities:







    Current maturities of long-term debt


$

78,077


$

63,446

    Accounts payable and accrued liabilities



1,343,922



1,253,714

    Legal reserves



144,120



129,150

    Operating lease liabilities



55,080



0

    Federal and state taxes



570



2,428

          Total current liabilities



1,621,769



1,448,738








Other noncurrent liabilities



338,871



361,809

Operating lease liabilities noncurrent



274,248



0

Long-term debt



3,870,294



3,935,187

Deferred income taxes



21,213



49,661








Redeemable noncontrolling interest



4,061



4,292








UHS common stockholders' equity



5,389,215



5,389,262

Noncontrolling interest



74,730



76,531

          Total equity



5,463,945



5,465,793








Total Liabilities and Stockholders' Equity


$

11,594,401


$

11,265,480








 

 

Universal Health Services, Inc.

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)


Nine months


ended September 30,


2019


2018





Cash Flows from Operating Activities:




Net income

$579,533


$634,261

Adjustments to reconcile net income to net 




cash provided by operating activities:




Depreciation & amortization

362,736


335,002

Stock-based compensation expense

52,167


50,645

Gain on sale of assets and businesses

(5,982)


(2,513)

Provision for asset impairment

97,631


0

Changes in assets & liabilities, net of effects from




acquisitions and dispositions:




  Accounts receivable

(37,332)


(74,129)

  Accrued interest

(2,962)


(5,808)

  Accrued and deferred income taxes 

(53,714)


(53,165)

  Other working capital accounts 

90,262


89,157

  Other assets and deferred charges

15,237


(37,133)

  Other 

(56,465)


(3,080)

  Accrued insurance expense, net of commercial premiums paid

76,245


69,386

  Payments made in settlement of self-insurance claims

(68,046)


(53,223)

          Net cash provided by operating activities

1,049,310


949,400





Cash Flows from Investing Activities:




   Property and equipment additions, net of disposals

(480,247)


(521,349)

   Acquisition of property and businesses

0


(108,016)

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

90,286


26,088

   Proceeds received from sales of assets and businesses

7,497


13,502

   Costs incurred for purchase and implementation of information technology applications

(18,240)


(25,487)

   Decrease in capital reserves of commercial insurance subsidiary

0


100

   Investment in, and advances to,  joint ventures and other

(11,949)


(13,910)

          Net cash used in investing activities

(412,653)


(629,072)





Cash Flows from Financing Activities:




   Reduction of long-term debt

(68,175)


(99,969)

   Additional borrowings

15,100


82,400

   Financing costs

0


(774)

   Repurchase of common shares

(587,976)


(261,256)

   Dividends paid

(35,556)


(28,086)

   Issuance of common stock

8,248


7,737

   Profit distributions to noncontrolling interests

(11,887)


(8,243)

          Net cash used in financing activities

(680,246)


(308,191)





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

(1,259)


(1,742)

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

(44,848)


10,395

Cash, cash equivalents and restricted cash, beginning of period

199,685


167,297

Cash, cash equivalents and restricted cash, end of period

$154,837


$177,692





Supplemental Disclosures of Cash Flow Information:




  Interest paid

$122,699


$114,162

  Income taxes paid, net of refunds

$221,298


$247,486

  Noncash purchases of property and equipment

$83,552


$88,932

  Right-of-use assets obtained in exchange for lease obligations

$364,453


$0





 

 

Universal Health Services, Inc.

Supplemental Statistical Information

(unaudited)




































 % Change 


 % Change 








Quarter ended


9 months ended



Same Facility:





9/30/2019


9/30/2019













Acute Care Hospitals










Revenues





9.3%


7.6%



Adjusted Admissions





7.4%


5.8%



Adjusted Patient Days





7.0%


5.5%



Revenue Per Adjusted Admission




1.6%


1.5%



Revenue Per Adjusted Patient Day




2.0%


1.7%

































Behavioral Health Hospitals










Revenues





2.1%


2.6%



Adjusted Admissions





0.5%


1.3%



Adjusted Patient Days





0.4%


0.5%



Revenue Per Adjusted Admission




2.0%


1.5%



Revenue Per Adjusted Patient Day




2.2%


2.3%











































UHS Consolidated



Third quarter ended


Nine months ended




9/30/2019


9/30/2018


9/30/2019


9/30/2018











Revenues



$2,822,453


$2,648,913


$8,482,012


$8,017,782

EBITDA net of NCI



$297,370


$377,724


$1,221,634


$1,264,496

EBITDA Margin net of NCI



10.5%


14.3%


14.4%


15.8%

Adjusted EBITDA net of NCI



$404,408


$414,296


$1,336,419


$1,308,211

Adjusted EBITDA Margin net of NCI


14.3%


15.6%


15.8%


16.3%





















Cash Flow From Operations



$425,224


$342,437


$1,049,310


$949,400

Days Sales Outstanding



50


54


50


53

Capital Expenditures  



$156,327


$151,097


$480,247


$521,349











Debt 







$3,948,371


$4,026,344

UHS' Shareholders Equity







$5,389,215


$5,363,745

Debt / Total Capitalization







42.3%


42.9%

Debt / EBITDA net of NCI (1)







2.50


2.35

Debt / Adjusted EBITDA net of NCI (1)





2.21


2.29

Debt / Cash From Operations (1)







2.87


3.23











(1)  Latest 4 quarters




















 

 

Universal Health Services, Inc.

Acute Care Hospital Services

For the three and nine months ended

September 30, 2019 and 2018

(in thousands)



































Same Facility Basis - Acute Care Hospital Services




































Three months ended


Three months ended


Nine months ended


Nine months ended



September 30, 2019


September 30, 2018


September 30, 2019


September 30, 2018



Amount


% of Net
Revenues 


Amount


% of Net
Revenues 


Amount


% of Net
Revenues 


Amount


% of Net
Revenues 

Net revenues


$1,502,383


100.0%


$1,375,116


100.0%


$4,491,738


100.0%


$4,173,618


100.0%

Operating charges:

















Salaries, wages and benefits


652,804


43.5%


596,903


43.4%


1,894,713


42.2%


1,762,797


42.2%

Other operating expenses


343,845


22.9%


312,383


22.7%


1,015,237


22.6%


929,224


22.3%

Supplies expense


263,198


17.5%


235,272


17.1%


776,231


17.3%


718,543


17.2%

Depreciation and amortization


76,028


5.1%


68,647


5.0%


225,624


5.0%


207,962


5.0%

Lease and rental expense


16,168


1.1%


14,052


1.0%


45,078


1.0%


43,043


1.0%

Subtotal-operating expenses


1,352,043


90.0%


1,227,257


89.2%


3,956,883


88.1%


3,661,569


87.7%

Income from operations


150,340


10.0%


147,859


10.8%


534,855


11.9%


512,049


12.3%

Interest expense, net


305


0.0%


382


0.0%


828


0.0%


1,344


0.0%

Other (income) expense, net


13


0.0%


-


-


(32)


(0.0)%


(2,498)


(0.1)%

Income before income taxes


150,022


10.0%


$147,477


10.7%


534,059


11.9%


$513,203


12.3%




















































All Acute Care Hospital Services




































Three months ended


Three months ended


Nine months ended


Nine months ended



September 30, 2019


September 30, 2018


September 30, 2019


September 30, 2018



Amount


% of Net
Revenues


Amount


% of Net
Revenues 


Amount


% of Net
Revenues


Amount


% of Net
Revenues 

Net revenues


$1,528,535


100.0%


$1,383,050


100.0%


$4,575,088


100.0%


$4,232,673


100.0%

Operating charges:

















Salaries, wages and benefits


653,792


42.8%


596,932


43.2%


1,897,144


41.5%


1,762,826


41.6%

Other operating expenses


370,325


24.2%


320,317


23.2%


1,099,625


24.0%


988,279


23.3%

Supplies expense


263,462


17.2%


235,272


17.0%


777,309


17.0%


718,543


17.0%

Depreciation and amortization


76,318


5.0%


68,647


5.0%


226,489


5.0%


207,962


4.9%

Lease and rental expense


16,235


1.1%


14,052


1.0%


45,270


1.0%


43,043


1.0%

Subtotal-operating expenses


1,380,132


90.3%


1,235,220


89.3%


4,045,837


88.4%


3,720,653


87.9%

Income from operations


148,403


9.7%


147,830


10.7%


529,251


11.6%


512,020


12.1%

Interest expense, net


305


0.0%


382


0.0%


828


0.0%


1,344


0.0%

Other (income) expense, net


13


0.0%


-


-


(32)


(0.0)%


(2,498)


(0.1)%

Income before income taxes


148,085


9.7%


$147,448


10.7%


528,455


11.6%


$513,174


12.1%



































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 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, 2018 and Form 10-Q for the quarter ended June 30, 2019.


















The All Acute Care Hospital Servicestable 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, 2019 and 2018

(in thousands)



































Same Facility - Behavioral Health Care Services




































Three months ended


Three months ended


Nine months ended


Nine months ended



September 30, 2019


September 30, 2018


September 30, 2019


September 30, 2018



Amount


% of Net
Revenues 


Amount


% of Net
Revenues 


Amount


% of Net
Revenues 


Amount


% of Net
Revenues 

Net revenues


$1,256,549


100.0%


$1,230,406


100.0%


$3,770,023


100.0%


$3,673,717


100.0%

Operating charges:

















Salaries, wages and benefits


679,995


54.1%


651,145


52.9%


2,000,128


53.1%


1,924,344


52.4%

Other operating expenses


238,637


19.0%


237,698


19.3%


707,624


18.8%


701,869


19.1%

Supplies expense


50,301


4.0%


49,291


4.0%


148,418


3.9%


146,842


4.0%

Depreciation and amortization


40,688


3.2%


39,134


3.2%


119,655


3.2%


113,606


3.1%

Lease and rental expense


11,202


0.9%


11,296


0.9%


33,125


0.9%


34,520


0.9%

Subtotal-operating expenses


1,020,823


81.2%


988,564


80.3%


3,008,950


79.8%


2,921,181


79.5%

Income from operations


235,726


18.8%


241,842


19.7%


761,073


20.2%


752,536


20.5%

Interest expense, net


359


0.0%


397


0.0%


1,103


0.0%


1,234


0.0%

Other (income) expense, net


1,058


0.1%


1,325


0.1%


1,058


0.0%


1,325


0.0%

Income before income taxes


$234,309


18.6%


$240,120


19.5%


$758,912


20.1%


$749,977


20.4%




















































All Behavioral Health Care Services




































Three months ended


Three months ended


Nine months ended


Nine months ended



September 30, 2019


September 30, 2018


September 30, 2019


September 30, 2018



Amount


% of Net
Revenues


Amount


% of Net
Revenues 


Amount


% of Net
Revenues


Amount


% of Net
Revenues 

Net revenues


$1,291,816


100.0%


$1,262,472


100.0%


$3,898,440


100.0%


$3,774,551


100.0%

Operating charges:

















Salaries, wages and benefits


690,084


53.4%


661,240


52.4%


2,049,731


52.6%


1,955,220


51.8%

Other operating expenses


363,328


28.1%


262,337


20.8%


891,250


22.9%


778,698


20.6%

Supplies expense


50,692


3.9%


49,958


4.0%


149,809


3.8%


148,965


3.9%

Depreciation and amortization


42,436


3.3%


40,718


3.2%


127,327


3.3%


118,948


3.2%

Lease and rental expense


11,822


0.9%


11,931


0.9%


35,185


0.9%


36,489


1.0%

Subtotal-operating expenses


1,158,362


89.7%


1,026,184


81.3%


3,253,302


83.5%


3,038,320


80.5%

Income from operations


133,454


10.3%


236,288


18.7%


645,138


16.5%


736,231


19.5%

Interest expense, net


359


0.0%


397


0.0%


1,103


0.0%


1,234


0.0%

Other (income) expense, net


(4,924)


(0.4)%


1,721


0.1%


(4,138)


(0.1)%


636


0.0%

Income before income taxes


$138,019


10.7%


$234,170


18.5%


$648,173


16.6%


$734,361


19.5%



































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 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 in the condensed consolidated financial statements and notes thereto as contained in our Form 10-K for the year ended December 31, 2018 and Form 10-Q for the quarter ended June 30, 2019.


















The All Behavioral Health Care Servicestable 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 as well as the results of certain facilities that were closed or restructured during the past year.


















 

 

Universal Health Services, Inc.

Selected Hospital Statistics

For the three months ended

September 30, 2019 and 2018



























AS REPORTED:









































ACUTE


BEHAVIORAL HEALTH



9/30/19


9/30/18


%  change


9/30/19


9/30/18


%  change














Hospitals owned and leased


26


26


0.0%


327


324


0.9%

Average licensed beds


6,387


6,213


2.8%


23,637


23,612


0.1%

Average available beds


6,211


6,037


2.9%


23,536


23,528


0.0%

Patient days


356,914


336,093


6.2%


1,623,465


1,618,280


0.3%

Average daily census


3,879.5


3,653.2


6.2%


17,646.4


17,590.0


0.3%

Occupancy-licensed beds


60.7%


58.8%


3.3%


74.7%


74.5%


0.2%

Occupancy-available beds


62.5%


60.5%


3.2%


75.0%


74.8%


0.3%

Admissions


79,285


74,357


6.6%


122,709


122,212


0.4%

Length of stay


4.5


4.5


-0.4%


13.2


13.2


-0.1%














Inpatient revenue


$7,004,832


$6,009,303


16.6%


$2,536,504


$2,459,078


3.1%

Outpatient revenue


4,477,277


3,694,389


21.2%


257,690


242,167


6.4%

Total patient revenue


11,482,109


9,703,692


18.3%


2,794,194


2,701,245


3.4%

Other revenue


114,026


99,094


15.1%


57,602


51,096


12.7%

Gross hospital revenue


11,596,135


9,802,786


18.3%


2,851,796


2,752,341


3.6%

Total deductions


10,067,600


8,419,736


19.6%


1,559,980


1,489,869


4.7%

Net hospital revenue 


$1,528,535


$1,383,050


10.5%


$1,291,816


$1,262,472


2.3%



























SAME FACILITY:




























ACUTE


BEHAVIORAL HEALTH



9/30/19


9/30/18


%  change


9/30/19


9/30/18


%  change














Hospitals owned and leased


26


26


0.0%


313


313


0.0%

Average licensed beds


6,387


6,213


2.8%


23,096


22,944


0.7%

Average available beds


6,211


6,037


2.9%


22,995


22,860


0.6%

Patient days


356,914


336,093


6.2%


1,593,992


1,593,458


0.0%

Average daily census


3,879.5


3,653.2


6.2%


17,326.0


17,320.2


0.0%

Occupancy-licensed beds


60.7%


58.8%


3.3%


75.0%


75.5%


-0.6%

Occupancy-available beds


62.5%


60.5%


3.2%


75.3%


75.8%


-0.6%

Admissions


79,285


74,357


6.6%


121,290


121,124


0.1%

Length of stay


4.5


4.5


-0.4%


13.1


13.2


-0.1%














 

 

Universal Health Services, Inc.

Selected Hospital Statistics

For the nine months ended

September 30, 2019 and 2018



























AS REPORTED:









































ACUTE


BEHAVIORAL HEALTH



9/30/19


9/30/18


%  change


9/30/19


9/30/18


%  change














Hospitals owned and leased


26


26


0.0%


327


324


0.9%

Average licensed beds


6,376


6,196


2.9%


23,792


23,371


1.8%

Average available beds


6,200


6,020


3.0%


23,692


23,288


1.7%

Patient days


1,084,534


1,028,589


5.4%


4,874,801


4,806,253


1.4%

Average daily census


3,972.6


3,767.8


5.4%


17,856.4


17,605.3


1.4%

Occupancy-licensed beds


62.3%


60.8%


2.5%


75.1%


75.3%


-0.4%

Occupancy-available beds


64.1%


62.6%


2.4%


75.4%


75.6%


-0.3%

Admissions


238,827


225,997


5.7%


368,103


362,661


1.5%

Length of stay


4.5


4.6


-0.2%


13.2


13.3


-0.1%














Inpatient revenue


$21,220,471


$18,535,079


14.5%


$7,568,129


$7,310,230


3.5%

Outpatient revenue


13,137,199


11,169,376


17.6%


792,929


764,885


3.7%

Total patient revenue


34,357,670


29,704,455


15.7%


8,361,058


8,075,115


3.5%

Other revenue


337,369


297,452


13.4%


168,341


152,274


10.6%

Gross hospital revenue


34,695,039


30,001,907


15.6%


8,529,399


8,227,389


3.7%

Total deductions


30,119,951


25,769,234


16.9%


4,630,959


4,452,838


4.0%

Net hospital revenue 


$4,575,088


$4,232,673


8.1%


$3,898,440


$3,774,551


3.3%



























SAME FACILITY:




























ACUTE


BEHAVIORAL HEALTH



9/30/19


9/30/18


%  change


9/30/19


9/30/18


%  change














Hospitals owned and leased


26


26


0.0%


313


313


0.0%

Average licensed beds


6,376


6,196


2.9%


22,927


22,713


0.9%

Average available beds


6,200


6,020


3.0%


22,827


22,630


0.9%

Patient days


1,084,534


1,028,589


5.4%


4,750,036


4,731,145


0.4%

Average daily census


3,972.6


3,767.8


5.4%


17,399.4


17,330.2


0.4%

Occupancy-licensed beds


62.3%


60.8%


2.5%


75.9%


76.3%


-0.5%

Occupancy-available beds


64.1%


62.6%


2.4%


76.2%


76.6%


-0.5%

Admissions


238,827


225,997


5.7%


363,465


359,200


1.2%

Length of stay


4.5


4.6


-0.2%


13.1


13.2


-0.8%














 

 

Cision
View original content:http://www.prnewswire.com/news-releases/universal-health-services-inc-reports-2019-third-quarter-financial-results-and-revises-2019-full-year-earnings-guidance-range-300945191.html

SOURCE Universal Health Services, Inc.


© PRNewswire 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on UNIVERSAL HEALTH SERVICES
12/04UNIVERSAL HEALTH SERVICES : Ex-dividend day for
FA
11/20UNIVERSAL HEALTH SERVICES, INC. : Announces Dividend
PR
11/20UNIVERSAL HEALTH SERVICES : Dividends
CO
11/19Health Care Up As "Medicare For All" Relief Lingers -- Health Care Roundup
DJ
11/08UNIVERSAL HEALTH SERVICES : Management's Discussion and Analysis of Financial Co..
AQ
10/30Indonesia hikes state health insurer's premiums to plug deficit
RE
10/28UNIVERSAL HEALTH SERVICES, INC. : to Present at the 2019 Wolfe Research Healthca..
PR
10/25UNIVERSAL HEALTH SERVICES INC : Results of Operations and Financial Condition, F..
AQ
10/24UNIVERSAL HEALTH SERVICES : 3Q Earnings Snapshot
AQ
10/24UNIVERSAL HEALTH SERVICES, INC. : Reports 2019 Third Quarter Financial Results A..
PR
More news