Universal Health Services, Inc. (NYSE: UHS) has reported its financial results for the three and six-month periods ended June 30, 2025, and has also raised its 2025 full-year operating results forecast. The reported net income attributable to UHS for the second quarter of 2025 was $353.2 million, a significant increase from the $289.2 million reported during the same period in 2024. Additionally, net revenues rose by 9.6% to $4.284 billion in the second quarter of 2025, up from $3.908 billion in the second quarter of 2024.
The adjusted net income attributable to UHS during the second quarter of 2025 was $347.9 million, compared to $292.6 million during the second quarter of 2024. Earnings before interest, taxes, depreciation & amortization (EBITDA) net of noncontrolling interests rose to $651.4 million during the second quarter of 2025, up from $573.2 million during the same period in 2024. Adjusted EBITDA net of noncontrolling interests also saw an increase to $642.9 million during the second quarter of 2025, from $578.7 million in the second quarter of 2024.
For the six-month period ended June 30, 2025, reported net income attributable to UHS was $669.9 million, up from $551.0 million during the comparable period in 2024. Net revenues increased by 8.2% to $8.384 billion during the first six months of 2025, compared to $7.751 billion during the same period in 2024. The adjusted net income attributable to UHS during the first six months of 2025 was $667.4 million, an increase from $545.7 million during the comparable period in 2024. EBITDA net of noncontrolling interests was $1.255 billion during the first six months of 2025, compared to $1.099 billion during the comparable period in 2024. Adjusted EBITDA net of noncontrolling interests also increased to $1.241 billion during the first six months of 2025, up from $1.104 billion during the comparable period in 2024.
In terms of specific services, at acute care hospitals on a same facility basis, net revenues generated from acute care services increased by 7.9% during the second quarter of 2025, and by 7.2% during the first six months of 2025, compared to the same periods in 2024. At behavioral health care facilities on a same facility basis, net revenues generated from behavioral health care services increased by 8.9% during the second quarter of 2025, and by 7.3% during the first six months of 2025, compared to the same periods in 2024.
The company's net cash provided by operating activities during the six-month period ended June 30, 2025, was $909 million, compared to $1.076 billion during the first six months of 2024. As of June 30, 2025, the company had $1.08 billion of aggregate available borrowing capacity pursuant to its $1.3 billion revolving credit facility, net of outstanding borrowings and letters of credit.
In addition, Universal Health Services, Inc. has repurchased shares of its class B common stock. During the second quarter of 2025, the company repurchased 875,000 shares at an aggregate cost of approximately $150.8 million, and during the first six months of 2025, it repurchased 1.875 million shares at an aggregate cost of approximately $331.5 million. As of June 30, 2025, the company had an aggregate available repurchase authorization of approximately $492.9 million pursuant to its stock repurchase program.
Based on the operating trends and financial results experienced during the first six months of 2025, as well as recent approvals of new Medicaid supplemental payment programs in Tennessee and changes in reimbursements to certain existing Medicaid supplemental payment programs in various states, the company has increased its operating results forecast range for consolidated net revenues, adjusted EBITDA net of noncontrolling interests, and adjusted net income attributable to UHS per diluted share for the year ended December 31, 2025. The revised forecasted net revenues are estimated to be approximately $17.096 billion to $17.312 billion, representing a change of 0.4% to -0.3% as compared to the original range of forecasted net revenues for 2025.
The revised forecasted adjusted EBITDA net of noncontrolling interests is estimated to be approximately $2.458 billion to $2.543 billion, representing increases of 4.3% to 2.4% over the original range of forecasted adjusted EBITDA net of noncontrolling interests for 2025. The revised forecasted adjusted EPS-diluted is estimated to be $20.00 per share to $21.00 per share, representing increases of 8.4% to 5.3% over the original range of forecasted adjusted EPS-diluted for 2025. The market has reacted to these announcements by moving the company's shares -0.42% to a price of $154.95. For more information, read the company's full 8-K submission here.
