UNIVER (UHS) Reports Strong Q1 Growth

By Chris Stiles • Tuesday, April 28 11:16 • Permanent Link

Universal Health Services reported first-quarter 2026 net income attributable to the company of $348.7 million, up from $316.7 million a year earlier. Diluted earnings per share rose to $5.65 from $4.80.

Net revenue increased 9.6% to $4.495 billion from $4.100 billion in the first quarter of 2025. Adjusted net income was $346.5 million, compared with $319.5 million last year, while adjusted diluted EPS increased to $5.62 from $4.84.

EBITDA net of noncontrolling interests climbed to $651.7 million from $603.9 million. Adjusted EBITDA net of noncontrolling interests rose to $648.3 million from $598.2 million.

At the acute care business, same-facility adjusted admissions were flat, while adjusted patient days increased 0.8%. Net revenue per adjusted admission increased 6.3%, and net revenue per adjusted patient day rose 5.5%. Same-facility acute care net revenue increased 8.2%.

In behavioral health, same-facility adjusted admissions rose 1.2% and adjusted patient days increased 1.6%. Net revenue per adjusted admission climbed 6.2%, and net revenue per adjusted patient day increased 5.8%. Same-facility behavioral health revenue grew 7.3%.

Cash from operations was $402 million, up from $360 million in the first quarter of 2025. The company said the increase reflected a $95 million improvement in accounts receivable, partly offset by an $80 million decline in other working capital accounts.

During the quarter, Universal Health Services repurchased 675,000 shares for about $127.3 million, at an average price of roughly $189 per share. As of March 31, it had about $1.298 billion of remaining repurchase authorization.

The company also amended its credit agreement in April, increasing borrowing capacity by $900 million. That included a $200 million increase in the revolving credit facility to $1.5 billion, a $300 million increase in tranche term loan A to $1.455 billion, and a new $400 million delayed draw term loan A. Borrowings outstanding under the revolving facility were about $373 million at quarter-end. Today the company's shares have moved -3.77% to a price of $174.35. For more information, read the company's full 8-K submission here.

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