Universal Health Services Surpasses Q2 Profit Estimates

Bollywood Fever: Hospital operator Universal Health Services (UHS) exceeded Wall Street’s profit estimates for the second quarter on Wednesday, driven by increased patient admissions. Following the announcement, the company’s shares rose 6.2% to $197.50 after hours.

UHS also raised its annual adjusted profit forecast to a range of $15.40 to $16.20 per share, up from the previous estimate of $13 to $14 per share. The hospital sector has seen a surge in demand for medical care, particularly from older adults, which had been delayed during the pandemic.

Universal Health Services Surpasses Q2 Profit Estimates

For the quarter ended June 30, UHS reported an adjusted profit of $4.31 per share, surpassing analysts’ expectations of $3.28 per share, according to LSEG data. Same facility adjusted admissions increased by 3.4% at acute care hospitals but decreased by 0.4% at behavioral health care facilities.

Quarterly revenue rose by 10.1% to $3.91 billion, beating the analysts’ estimate of $3.86 billion.

Larger competitor HCA Healthcare, the largest for-profit hospital operator in the United States, also raised its annual profit forecast on Tuesday, citing strong demand and volumes anticipated to continue throughout the year.

Universal Health Services now projects 2024 revenue to be between $15.57 billion and $15.75 billion, slightly above the analysts’ average expectation of $15.59 billion.


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Pooja Chauhan
Pooja Chauhan

Pooja Chauhan: Your Source for Entertainment and Box Office News

Pooja Chauhan is a passionate writer and dedicated journalist specializing in delivering the latest updates and insights from the world of entertainment and box office. With a keen eye for detail and a deep love for cinema, Pooja brings her readers accurate and engaging coverage of all things related to movies, celebrities, and the dynamic world of showbiz. Her commitment to keeping her audience well-informed and entertained makes her a valuable voice in the realm of entertainment journalism. When she's not busy uncovering the latest scoops, Pooja enjoys exploring classic films and indulging in creative writing."
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