U.S. Physical Therapy reported its earnings for the fourth quarter and full year ended December 31, 2023. In the fourth quarter of 2023, the company's revenue was $159.7 million, an increase of 12.5% compared to the same period in 2022. The net income for the fourth quarter was $10.8 million, which marks a 15.8% increase from the fourth quarter of 2022.
For the full year 2023, U.S. Physical Therapy reported revenue of $612.3 million, showing an increase of 10.6% from the previous year. The net income for the full year was $38.6 million, a 23.8% increase from the net income in the prior year.
The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) for the fourth quarter of 2023 was $24.6 million, which is a 13.9% increase compared to the same period in 2022. For the full year 2023, the EBITDA was $96.2 million, representing a 12.5% increase from the previous year.
U.S. Physical Therapy's clinics experienced a 3.6% increase in same-store visits in the fourth quarter of 2023 compared to the fourth quarter of 2022. For the full year, the same-store visits increased by 3.2% compared to the prior year.
The company's cash flow from operations for the full year 2023 was $85.6 million, showing an increase of 14.1% compared to the previous year.
If you want to know more, read the company's complete 8-K report here.
