Consolidated Results of Operations, As Reported and As Adjusted- Three-month periods ended June 30, 2026 and 2025:
KING OF PRUSSIA, Pa., July 27, 2026 /PRNewswire/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that its reported net income attributable to UHS was $358.4 million, or $5.98 per diluted share, during the second quarter of 2026, as compared to $353.2 million, or $5.43 per diluted share, during the second quarter of 2025. Net revenues increased by 8.3% to $4.638 billion during the second quarter of 2026, as compared to $4.284 billion during the second quarter of 2025.
Included in our operating results during the second quarter of 2026, was a favorable net pre-tax impact of approximately $72 million recorded in connection with the following: (i) a favorable net pre-tax impact of $100 million (net of related provider taxes) recorded in connection with the Florida Medicaid managed care directed payment program applicable to the period of October 1, 2024 through September 30, 2025 (pursuant to the Centers for Medicare and Medicaid Services' ("CMS") preprint approval granted in April, 2026 which increased the size of the program and changed the related provider tax structure), and; (ii) an unfavorable pre-tax impact of $28 million resulting from an increase to our reserve for self-insured professional and general liability claims. The impact of these items was not included in our original 2026 operating results forecast, as previously disclosed on February 25, 2026.
Included in our operating results during the second quarter of 2025, were aggregate net pre-tax incremental reimbursements (net of related provider taxes) of approximately $101 million recorded in connection with the following: (i) approximately $58 million, applicable to the period of July 1, 2024 through June 30, 2025, resulting from the Tennessee Medicaid directed payment program, and; (ii) approximately $43 million of other combined additional net reimbursements recorded in connection with supplemental Medicaid programs in various states (approximately $21 million of which consisted of prior year retroactive reimbursements). Also included in our results of operations during the second quarter of 2025, was a pre-tax loss of approximately $25 million incurred in connection with a newly constructed, 142-bed acute care hospital located in Washington, D.C., that was completed and opened in April, 2025.
As reflected on the Schedule of Non-GAAP Supplemental Information ("Supplemental Schedule"), there were no adjustments applicable to our operating results during the second quarter of 2026. As reflected on the Supplemental Schedule, included in our reported results during the second quarter of 2025 were: (i) an unrealized after-tax gain of $4.5 million, or $.07 per diluted share ($5.9 million pre-tax), resulting from an increase in the market value of certain equity securities that were sold during the fourth quarter of 2025 (included in "Other (income) expense, net"), and; (ii) a favorable net after-tax impact of $0.8 million, or $.01 per diluted share, resulting from the net tax benefit recorded in connection with "ASU 2016-09", Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting, net of the impact of executive compensation limitations pursuant to IRC section 162(m). After giving effect to these items, our adjusted net income during the second quarter of 2025 was $347.9 million, or $5.35 per diluted share.
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 $680.2 million during the second quarter of 2026, as compared to $651.4 million during the second quarter of 2025. Our adjusted earnings before interest, taxes, depreciation & amortization ("Adjusted EBITDA net of NCI"), which excludes the impact of other (income) expense, net, was $677.9 million during the second quarter of 2026, as compared to $642.9 million during the second quarter of 2025.
Consolidated Results of Operations, As Reported and As Adjusted- Six-month periods ended June 30, 2026 and 2025:
Reported net income attributable to UHS was $707.1 million, or $11.63 per diluted share, during the first six months of 2026, as compared to $669.9 million, or $10.23 per diluted share, during the comparable period of 2025. Net revenues increased by 8.9% to $9.133 billion during the first six months of 2026, as compared to $8.384 billion during the comparable period of 2025.
As reflected on the Supplemental Schedule, our adjusted net income during the first six months of 2026 was $705.0 million, or $11.60 per diluted share, as compared to $667.4 million, or $10.19 per diluted share, during the comparable period of 2025.
As reflected on the Supplemental Schedule, included in our reported results during the first six months of 2026 was a favorable net after-tax impact of $2.2 million, or $.03 per diluted share, resulting from the net tax benefit recorded in connection with ASU 2016-09. Included in our reported results during the first six months of 2025 were: (i) an unrealized after-tax gain of $1.2 million, or $.02 per diluted share ($1.6 million pre-tax), resulting from an increase in the market value of certain equity securities that were sold during the fourth quarter of 2025, and; (ii) a favorable net after-tax impact of $1.3 million, or $.02 per diluted share, resulting from the net tax benefit recorded in connection with ASU 2016-09.
As calculated on the attached Supplemental Schedule, our EBITDA net of NCI, was $1.332 billion during the first six months of 2026, as compared to $1.255 billion during the comparable period of 2025. Our Adjusted EBITDA net of NCI", which excludes the impact of other (income) expense, net, was $1.326 billion during the first six months of 2026, as compared to $1.241 billion during the comparable period of 2025.
Acute Care Services - Three and six-month periods ended June 30, 2026 and 2025:
During the second quarter of 2026, at our acute care hospitals owned during both periods ("same facility basis"), adjusted admissions (adjusted for outpatient activity) increased by 2.9% and adjusted patient days increased by 3.1%, as compared to the second quarter of 2025. At these facilities, during the second quarter of 2026, net revenue per adjusted admission increased by 3.0% while net revenue per adjusted patient day increased by 2.8%, as compared to the second quarter of 2025. Net revenues generated from our acute care services, on a same facility basis, increased by 8.2% during the second quarter of 2026, as compared to the second quarter of 2025.
During the first six months of 2026, on a same facility basis, adjusted admissions increased by 1.4% and adjusted patient days increased by 1.9%, as compared to the comparable period of 2025. At these facilities, during the first six months of 2026, net revenue per adjusted admission increased by 4.6% while net revenue per adjusted patient day increased by 4.2%, as compared to the comparable period of 2025. Net revenues generated from our acute care services, on a same facility basis, increased by 8.2% during the first six months of 2026, as compared to the comparable period of 2025.
Behavioral Health Care Services - Three and six-month periods ended June 30, 2026 and 2025:
During the second quarter of 2026, at our behavioral health care facilities on a same facility basis, adjusted admissions increased by 0.5% while adjusted patient days increased by 1.4%, as compared to the second quarter of 2025. At these facilities, during the second quarter of 2026, net revenue per adjusted admission increased by 7.1% and net revenue per adjusted patient day increased by 6.1%, as compared to the second quarter of 2025. Net revenues generated from our behavioral health care services, on a same facility basis, increased by 7.4% during the second quarter of 2026, as compared to the second quarter of 2025.
During the first six months of 2026, at our behavioral health care facilities on a same facility basis, adjusted admissions increased by 0.9% while adjusted patient days increased by 1.5%, as compared to the comparable period of 2025. At these facilities, during the first six months of 2026, net revenue per adjusted admission increased by 6.6% and net revenue per adjusted patient day increased by 6.0%, as compared to the comparable period of 2025. Net revenues generated from our behavioral health care services, on a same facility basis, increased by 7.4% during the first six months of 2026, as compared to the comparable period of 2025.
Net Cash Provided by Operating Activities and Credit Agreement Amendment/Capital Resources:
Net Cash Provided by Operating Activities:
During the six-month period ended June 30, 2026, our net cash provided by operating activities was $845 million as compared to $909 million during the first six months of 2025. The $64 million net decrease in our net cash provided by operating activities consisted of: (i) an unfavorable change of $207 million in other working capital accounts due primarily to the timing of accounts payable disbursements; (ii) a favorable change of $86 million in accrued and deferred income taxes; (iii) a favorable change of $53 million resulting from an increase in net income plus/minus depreciation and amortization expense, stock-based compensation expense and gain on sales of assets and businesses; (iv) a favorable change of $47 million in accrued insurance expense, net of payments made in settlement of self-insured claims; (v) an unfavorable change of $45 million in accounts receivable, and; (vi) other combined net favorable changes of $2 million.
Credit Agreement Amendment/Capital Resources:
As of June 30, 2026, pursuant to the terms of our $1.5 billion revolving credit facility, we had $1.272 billion of available borrowing capacity, net of outstanding borrowings ($225 million) and letters of credit. Also as of June 30, 2026, as part of our credit agreement, we had $400 million of borrowing capacity pursuant to a delayed draw term loan A which is expected to be drawn upon the closing of our acquisition of Talkspace, Inc. (expected to be finalized during the third quarter of 2026). The maturity date for our $1.5 billion revolving credit facility and our $400 million delayed draw term loan A is September 26, 2029.
In July, 2026, and as previously disclosed on Form 8-K as filed with the Securities and Exchange Commission on July 21, 2026, we amended our credit agreement to add a new $700 million delayed draw term loan A which, if we elect to utilize, would be funded on or prior to September 30, 2026, with a maturity date 364 days after the initial funding. Potential future borrowings pursuant to this facility would be used for general corporate purposes, including, should we elect, repayment at maturity of our $700 million, 1.650% Senior Secured Notes due on September 1, 2026.
Stock Repurchase Program:
In connection with our stock repurchase program, 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.
Pursuant to this program, during the second quarter of 2026, we have repurchased 1.890 million shares at an aggregate cost of approximately $320.3 million (average price of approximately $169 per share). During the first six months of 2026, we have repurchased 2.565 million shares at an aggregate cost of approximately $447.5 million (average price of approximately $174 per share).
As of June 30, 2026, we had an aggregate available repurchase authorization of approximately $977.6 million pursuant to our stock repurchase program.
Revised 2026 Operating Results Forecast:
Based upon the operating trends, changes in reimbursements related to certain Medicaid supplemental payment programs and financial results experienced during the first six months of 2026, as indicated on the Revised Forecast table below, we are revising our operating results forecast range for consolidated net revenues; adjusted earnings before interest, taxes, depreciation & amortization, and the impacts of other income/expense and net income attributable to noncontrolling interests ("Adjusted EBITDA, net of NCI"), and adjusted net income attributable to UHS per diluted share ("Adjusted EPS-diluted") for the year ended December 31, 2026.
As discussed above, our operating results for the three and six-month periods ended June 30, 2026 included a favorable net pre-tax impact of $100 million (net of related provider taxes) recorded in connection with the Florida Medicaid managed care directed payment program applicable to the period of October 1, 2024 through September 30, 2025. Since CMS has not yet approved the increased size of this program for periods beyond September 30, 2025, no incremental benefit related to this program has been included in our revised 2026 operating results forecast beyond amounts included in our operating results during the three and six-month periods ended June 30, 2026.
Our revised 2026 forecasted range of adjusted net income attributable to UHS, and adjusted EPS-diluted, exclude certain items as described below because we do not believe we can forecast those items with sufficient accuracy. Adjusted EBITDA net of NCI, is a non-GAAP financial measure and should not be considered a measure of financial performance under GAAP. We believe Adjusted EBITDA net of NCI is helpful to our investors as a measure of our operating performance. Please see the Supplemental Non-GAAP Disclosures - Revised 2026 Operating Results Forecast schedule as included herein for additional information and a reconciliation of our revised 2026 forecasted range of adjusted net income attributable to UHS to our revised 2026 forecasted range of Adjusted EBITDA net of NCI.
The tables below include our full year revised 2026 operating results forecast, as well as our original 2026 operating results forecast which was previously disclosed on February 25, 2026.
Revised Forecast Original Forecast
For the Year Ended For the Year Ended
December 31, 2026 December 31, 2026
Low High Low High
Net revenues
$18.501 billion
$18.762 billion
$18.417 billion
$18.789 billion
Adjusted EBITDA, net of NCI
$2.610 billion
$2.717 billion
$2.641 billion
$2.789 billion
Adjusted EPS - diluted
$22.28 per share
$23.65 per share
$22.64 per share
$24.52 per share
- The midpoint of our revised 2026 forecasted net revenues represents an increase of 0.2% as compared to the midpoint of our original 2026 forecasted net revenues.
- The midpoint of our revised 2026 forecasted Adjusted EBITDA net of NCI, represents a decrease of 1.9% as compared to the midpoint of our original 2026 forecasted Adjusted EBITDA net of NCI.
- The midpoint of our revised 2026 forecasted Adjusted EPS-diluted represents a decrease of 2.6% as compared to our original 2026 Adjusted EPS-diluted.
- As previously disclosed, during the full year of 2026, we expect to spend approximately $950 million to $1.1 billion on capital expenditures which includes expenditures for capital equipment, construction of new facilities, and renovations and expansions to our existing hospitals.
Because we do not believe we can forecast certain items with sufficient accuracy, our revised 2026 forecasted range of Adjusted EBITDA net of NCI, net income attributable to UHS, and Adjusted EPS-diluted, exclude the impact of future items, if applicable, that are nonrecurring or non-operational in nature including items such as changes in the value of certain non-marketable securities (in connection with our minority ownership in a healthcare generative artificial intelligence company), the impact of ASU 2016-09, and other potential material items that are nonrecurring or non-operational in nature including, but not limited to, impairments of goodwill, 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, potential impacts of non-ordinary acquisitions, divestitures, joint ventures or other strategic transactions, other amounts that may be reflected in the current or prior year financial statements that relate to prior periods, and the impact of share repurchases that differ from our forecasted assumptions. 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 July 28, 2026. A live webcast of the call will be available on our website at www.uhs.com. To participate via telephone, please register in advance at this link. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. Supplemental financial disclosures related to our financial results are available on our website.
General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures:
Headquartered in King of Prussia, PA, UHS is one of the nation's largest and most respected providers of hospital and healthcare services, with annual revenues of approximately $17.4 billion during 2025. Through its subsidiaries, UHS employs more than 102,000 employees and, as of June 30, 2026, operated 30 inpatient acute care facilities, 346 inpatient behavioral health facilities and approximately 170 outpatient and other facilities, an insurance offering, a physician network and various related services located in 40 states, Washington, D.C., Puerto Rico and the United Kingdom. Since our founding in 1979, UHS has grown steadily into a premier Fortune 500® corporation perennially recognized by multiple esteemed national rating entities. Our strategy includes investing in talented staff, facilities, technology and innovation across broad care continuums to deliver favorable patient outcomes and contribute to the overall health and wellbeing of the patients we are privileged to serve. A wholly-owned subsidiary of UHS also acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE: UHT). For additional information, please visit www.uhs.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 2-Forward Looking Statements and Risk Factors in our Form 10-Q for the quarter ended March 31, 2026 and in Item 1A-Risk Factors, and Item 7-Forward-Looking Statements and Risk Factors, in our Form 10-K for the year ended December 31, 2025), may cause the results to differ materially from those anticipated in the forward-looking statements. 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.
Many of the factors that could affect our future results are beyond our control or ability to predict, including, but not limited to:
- A significant portion of our revenues are derived from federal and state government programs including the Medicare and Medicaid programs. Payments from these programs are subject to statutory and regulatory changes, administrative rulings, interpretations and determinations, requirements for utilization review, and federal and state funding restrictions. Changes to these programs could materially affect program payments which could materially impact our results of operations. In addition, we receive substantial reimbursement from multiple states in connection with various supplemental Medicaid payment programs. Failure to renew these programs beyond their scheduled termination dates, failure of the public hospitals to provide the necessary Inter-Governmental Transfers for the states' share of the Medicaid disproportionate share hospital programs, and the failure of our hospitals that currently receive supplemental Medicaid revenues to qualify for future funds under these programs could cause our actual results of operations for the year ended December 31, 2026 to differ materially from our revised 2026 operating results forecast.
- Legislation adopted on July 4, 2025, attaches work and community service requirements to eligibility for Medicaid benefits that will have the effect of limiting Medicaid enrollment and expenditures. That legislation also places limits on provider fees used to increase federal Medicaid funding to states and eliminated certain exchange premium tax credits beyond 2025. As these provisions become effective over the next several years, they may be expected to reduce our revenues and likely increase the level of uncompensated care provided by our facilities.
- The increase in interest rates during the past few years has increased our interest expense significantly thereby reducing our free cash flow. As such, although interest rates have moderated more recently, the effects of increased borrowing rates have adversely impacted our results of operations, financial condition and cash flows. We cannot predict future changes to interest rates, however, significant increases in our borrowing rates could have a material unfavorable impact on our future results of operations and our ability to access the capital markets on favorable terms.
- Changes in laws or policies governing the terms of foreign trade, and in particular, increased trade restrictions, tariffs or taxes on imports from where our products or materials are made (either directly or through our suppliers) could have an impact on our competitive position, business operations and financial results.
- The outcome of known and unknown litigation, liabilities and other claims asserted against us and/or our subsidiaries, including, but not limited to, the matters related to Cumberland Hospital for Children and Adolescents, located in New Kent, Virginia, which was previously disclosed in various filings including, most recently, our Form 10-Q for the quarterly period ended March 31, 2026. Although we can make no assurances regarding the ultimate outcome of these matters, or what damages will ultimately be awarded, the final resolution of these matters could have a material adverse effect on the Company.
- The ability to successfully complete, integrate and realize the benefit and synergies from our proposed acquisition of Talkspace, Inc.
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 of material items impacting our net income attributable to UHS, such as, changes in the value of certain non-marketable securities (in connection with our minority ownership in a healthcare generative artificial intelligence company), the impact of ASU 2016-09, and other potential material items that are nonrecurring or non-operational in nature including, but not limited to, impairments of goodwill, 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, potential impacts of non-ordinary acquisitions, divestitures, joint ventures or other strategic transactions, 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 filings with the Securities and Exchange Commission including our Report on Form 10-Q for the quarter ended March 31, 2026 and our Report on Form 10-K for the year ended December 31, 2025. 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.
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Universal Health Services, Inc.
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Consolidated Statements of Income
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(in thousands, except per share amounts)
(unaudited)
Three months
Six months
ended June 30, ended June 30,
2026 2025 2026 2025
Net revenues $4,638,012 $4,283,816 $9,133,194 $8,383,536
Operating charges:
Salaries, wages and benefits 2,140,309 2,014,951 4,228,538 3,966,055
Other operating expenses 1,351,958 1,162,566 2,635,886 2,268,318
Supplies expense 423,257 418,785 849,800 821,666
Depreciation and amortization 167,338 152,004 322,764 300,349
Lease and rental expense 38,475 35,240 76,671 72,053
4,121,337 3,783,546 8,113,659 7,428,441
Income from operations 516,675 500,270 1,019,535 955,095
Interest expense, net 39,912 35,364 77,045 75,420
Other (income) expense, net (2,363) (8,479) (5,752) (14,138)
Income before income taxes 479,126 473,385 948,242 893,813
Provision for income taxes 114,536 110,773 224,974 209,573
Net income 364,590 362,612 723,268 684,240
Less: Net income (loss) attributable to
noncontrolling interests ("NCI") 6,143 9,394 16,139 14,342
Net income attributable to UHS $358,447 $353,218 $707,129 $669,898
Basic earnings per share attributable to UHS (a) $6.01 $5.49 $11.71 $10.36
Diluted earnings per share attributable to UHS (a) $5.98 $5.43 $11.63 $10.23
Universal Health Services, Inc.
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Footnotes to Consolidated Statements of Income
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(in thousands, except per share amounts)
(unaudited)
Three months Six months
(a) Earnings per share calculation: ended June 30, ended June 30,
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2026 2025 2026 2025
Basic and diluted:
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Net income attributable to UHS - basic and diluted $358,447 $353,218 $707,129 $669,898
Weighted average number of common shares - basic 59,657 64,356 60,364 64,663
Basic earnings per share attributable to UHS: $6.01 $5.49 $11.71 $10.36
Weighted average number of common shares 59,657 64,356 60,364 64,663
Add: Other share equivalents 253 635 425 851
Weighted average number of common shares and equiv. - diluted 59,910 64,991 60,789 65,514
Diluted earnings per share attributable to UHS: $5.98 $5.43 $11.63 $10.23
Universal Health Services, Inc.
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Schedule of Non-GAAP Supplemental Information ("Supplemental Schedule")
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For the Three Months ended June 30, 2026 and 2025
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(in thousands, except per share amounts)
(unaudited)
Calculation of Earnings/Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization
("EBITDA/Adjusted EBITDA net of NCI")
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Three months % Net Three months
ended ended % Net
June 30, 2026 revenues June 30, 2025 revenues
Net income attributable to UHS $358,447 $353,218
Depreciation and amortization 167,338 152,004
Interest expense, net 39,912 35,364
Provision for income taxes 114,536 110,773
EBITDA net of NCI $680,233 14.7 % $651,359 15.2 %
Other (income) expense, net (2,363) (8,479)
Adjusted EBITDA net of NCI $677,870 14.6 % $642,880 15.0 %
Net revenues $4,638,012 $4,283,816
Calculation of Adjusted Net Income Attributable to UHS
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Three months ended
Three months ended
June 30, 2026
June 30, 2025
Per Per
Amount Diluted
Amount Diluted
Share Share
Net income attributable to UHS $358,447 $5.98 $353,218 $5.43
Plus/minus after-tax adjustments:
Unrealized gain on equity securities - (4,534) (0.07)
Impact of ASU 2016-09, net - (796) (0.01)
Subtotal adjustments - (5,330) (0.08)
Adjusted net income $358,447 $5.98 $347,888 $5.35
Universal Health Services, Inc.
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Schedule of Non-GAAP Supplemental Information ("Supplemental Schedule")
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For the Six Months ended June 30, 2026 and 2025
---
(in thousands, except per share amounts)
(unaudited)
Calculation of Earnings/Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization
("EBITDA/Adjusted EBITDA net of NCI")
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Six months % Net Six months
ended ended % Net
June 30, 2026 revenues June 30, 2025 revenues
Net income attributable to UHS $707,129 $669,898
Depreciation and amortization 322,764 300,349
Interest expense, net 77,045 75,420
Provision for income taxes 224,974 209,573
EBITDA net of NCI $1,331,912 14.6 % $1,255,240 15.0 %
Other (income) expense, net (5,752) (14,138)
Adjusted EBITDA net of NCI $1,326,160 14.5 % $1,241,102 14.8 %
Net revenues $9,133,194 $8,383,536
Calculation of Adjusted Net Income Attributable to UHS
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Six months ended
Six months ended
June 30, 2026
June 30, 2025
Per Per
Amount Diluted Amount Diluted
Share Share
Net income attributable to UHS $707,129 $11.63 $669,898 $10.23
Plus/minus after-tax adjustments:
Unrealized gain on equity securities - (1,249) (0.02)
Impact of ASU 2016-09, net (2,164) (0.03) (1,257) (0.02)
Subtotal adjustments (2,164) (0.03) (2,506) (0.04)
Adjusted net income attributable to UHS $704,965 $11.60 $667,392 $10.19
Universal Health Services, Inc.
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Condensed Consolidated Balance Sheets
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(in thousands)
(unaudited)
June 30, December 31,
2026 2025
Assets
Current assets:
Cash and cash equivalents $
138,800 $
137,797
Accounts receivable, net 2,801,108 2,602,434
Supplies 234,094 232,110
Other current assets 505,323 435,574
Total current assets 3,679,325 3,407,915
Property and equipment 13,830,293 13,489,811
Less: accumulated depreciation (6,687,668) (6,481,714)
7,142,625 7,008,097
Other assets:
Goodwill 3,981,713 3,990,213
Deferred income taxes 63,719 70,517
Right of use assets-operating leases 365,758 374,239
Deferred charges 9,908 9,272
Other 692,438 667,340
Total Assets $
15,935,486 $
15,527,593
Liabilities and Stockholders' Equity
Current liabilities:
Current maturities of long-term debt $
771,910 $
748,158
Accounts payable and other liabilities 2,451,182 2,416,276
Operating lease liabilities 70,861 73,237
Federal and state taxes 3,703 1,930
Total current liabilities 3,297,656 3,239,601
Other noncurrent liabilities 559,955 527,827
Operating lease liabilities noncurrent 339,467 340,715
Deferred income taxes 3,233 5,649
Long-term debt 4,079,937 4,004,393
Redeemable noncontrolling interest 73,603 70,620
UHS common stockholders' equity 7,513,812 7,275,792
Noncontrolling interest 67,823 62,996
Total equity 7,581,635 7,338,788
Total Liabilities and Stockholders' Equity $
15,935,486 $
15,527,593
Universal Health Services, Inc.
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Consolidated Statements of Cash Flows
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(in thousands)
(unaudited)
Six months
ended June 30,
2026 2025
Cash Flows from Operating Activities:
Net income $723,268 $684,240
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation & amortization 322,764 300,349
Stock-based compensation expense 45,413 45,707
(Gain) loss on sales of assets and businesses (5,578) 2,833
Changes in assets & liabilities, net of effects from
acquisitions and dispositions:
Accounts receivable (137,907) (92,636)
Accrued interest (29) (4,532)
Accrued and deferred income taxes 29,759 (55,913)
Other working capital accounts (182,146) 25,324
Other assets and deferred charges (18,466) (22,404)
Other, net 10,753 16,143
Accrued insurance expense, net of commercial premiums paid 157,435 94,696
Payments made in settlement of self-insurance claims, net of commercial insurance reimbursements (100,335) (84,781)
Net cash provided by operating activities 844,931 909,026
Cash Flows from Investing Activities:
Property and equipment additions (444,790) (505,040)
Proceeds received from sales of assets and businesses 15,732 2,980
Acquisition of businesses and property (4,857) (8,314)
Inflows (outflows) from foreign exchange contracts that hedge our net U.K. investment 12,011 (66,402)
Costs incurred for purchase and development of enterprise resource planning application (9,964) 0
Decrease (increase) in capital reserves of commercial insurance subsidiary 56 (462)
Net cash used in investing activities (431,812) (577,238)
Cash Flows from Financing Activities:
Repayments of long-term debt (201,745) (18,548)
Additional borrowings 300,040 94,601
Financing costs (1,410) 0
Repurchase of common shares (484,601) (378,542)
Dividends paid (24,760) (26,434)
Issuance of common stock 8,659 8,137
Profit distributions to noncontrolling interests (11,889) (9,621)
Purchase of ownership interests by minority members, net 4,324 11,336
Net cash used in financing activities (411,382) (319,071)
Effect of exchange rate changes on cash and cash equivalents (676) 3,931
Increase in cash, cash equivalents and restricted cash 1,061 16,648
Cash, cash equivalents and restricted cash, beginning of period 271,322 224,752
Cash, cash equivalents and restricted cash, end of period $272,383 $241,400
Supplemental Disclosures of Cash Flow Information:
Interest paid $74,460 $77,448
Income taxes paid, net of refunds $197,419 $251,786
Noncash purchases of property and equipment $80,646 $148,887
Universal Health Services, Inc.
---
Supplemental Statistical Information
---
(unaudited)
% Change % Change
3 Months ended 6 Months ended
Same Facility: 6/30/2026 6/30/2026
Acute Care Hospitals (1)
Revenues 8.2 % 8.2 %
Adjusted Admissions 2.9 % 1.4 %
Adjusted Patient Days 3.1 % 1.9 %
Revenue Per Adjusted Admission 3.0 % 4.6 %
Revenue Per Adjusted Patient Day 2.8 % 4.2 %
Behavioral Health Hospitals (1)
Revenues 7.4 % 7.4 %
Adjusted Admissions 0.5 % 0.9 %
Adjusted Patient Days 1.4 % 1.5 %
Revenue Per Adjusted Admission 7.1 % 6.6 %
Revenue Per Adjusted Patient Day 6.1 % 6.0 %
UHS Consolidated Second Quarter Ended
Six Months Ended
6/30/2026 6/30/2025 6/30/2026 6/30/2025
Revenues $4,638,012 $4,283,816 $9,133,194 $8,383,536
EBITDA net of NCI $680,233 $651,359 $1,331,912 $1,255,240
EBITDA Margin net of NCI 14.7 % 15.2 % 14.6 % 15.0 %
Adjusted EBITDA net of NCI $677,870 $642,880 $1,326,160 $1,241,102
Adjusted EBITDA Margin net of NCI 14.6 % 15.0 % 14.5 % 14.8 %
Cash Flow From Operations $443,303 $548,978 $844,931 $909,026
Capital Expenditures $227,633 $266,014 $444,790 $505,040
Days Sales Outstanding 56 50
Debt $4,851,847 $4,582,897
UHS' Shareholders Equity $7,513,812 $7,030,048
Debt / Total Capitalization 39.2 % 39.5 %
Debt / EBITDA net of NCI (2) 1.73 1.91
Debt / Adjusted EBITDA net of NCI (2) 1.81 1.92
Debt / Cash From Operations (2) 2.70 2.41
(1) Prior year amounts related to certain facilities previously included in our Behavioral Health Care Services' results have been reclassified into our Acute Care Hospital Services' results as of January 1, 2025 to conform with current year presentation.
(2) Latest 4 quarters.
Universal Health Services, Inc.
---
Acute Care Hospital Services
---
For the Three and Six Months ended
June 30, 2026 and 2025
(in thousands)
(unaudited)
Same Facility Basis -Acute Care Hospital Services
---
Three months ended Three months ended Six months ended Six months ended
June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025
Amount % of Net Amount % of Net Amount % of Net Amount % of Net
Revenues Revenues Revenues Revenues
Net revenues $2,507,889 100.0 % $2,318,826 100.0 % $4,977,934 100.0 % $4,600,657 100.0 %
Operating charges:
Salaries, wages and benefits 991,733 39.5 % 938,594 40.5 % 1,944,568 39.1 % 1,852,423 40.3 %
Other operating expenses 779,029 31.1 % 672,172 29.0 % 1,507,181 30.3 % 1,310,771 28.5 %
Supplies expense 362,131 14.4 % 361,093 15.6 % 727,628 14.6 % 709,917 15.4 %
Depreciation and amortization 103,112 4.1 % 96,458 4.2 % 198,793 4.0 % 191,359 4.2 %
Lease and rental expense 25,959 1.0 % 24,240 1.0 % 52,697 1.1 % 49,584 1.1 %
Subtotal-operating expenses 2,261,964 90.2 % 2,092,557 90.2 % 4,430,867 89.0 % 4,114,054 89.4 %
Income from operations 245,925 9.8 % 226,269 9.8 % 547,067 11.0 % 486,603 10.6 %
Interest expense, net 1,301 0.1 % (1,613) (0.1) % 2,287 0.0 % 649 0.0 %
Other (income) expense, net (1,189) (0.0) % (1,011) (0.0) % (3,744) (0.1) % (9,583) (0.2) %
Income before income taxes $245,813 9.8 % $228,893 9.9 % $548,524 11.0 % $495,537 10.8 %
All Acute Care Hospital Services
---
Three months ended Three months ended Six months ended Six months ended
June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025
Amount % of Net Amount % of Net Amount % of Net Amount % of Net
Revenues Revenues Revenues Revenues
Net revenues $2,609,999 100.0 % $2,403,837 100.0 % $5,220,135 100.0 % $4,761,651 100.0 %
Operating charges:
Salaries, wages and benefits 999,864 38.3 % 938,708 39.1 % 1,972,710 37.8 % 1,854,232 38.9 %
Other operating expenses 885,882 33.9 % 757,549 31.5 % 1,745,729 33.4 % 1,474,211 31.0 %
Supplies expense 363,494 13.9 % 361,097 15.0 % 731,432 14.0 % 709,789 14.9 %
Depreciation and amortization 106,623 4.1 % 96,459 4.0 % 202,941 3.9 % 191,362 4.0 %
Lease and rental expense 26,170 1.0 % 24,240 1.0 % 52,742 1.0 % 49,584 1.0 %
Subtotal-operating expenses 2,382,033 91.3 % 2,178,053 90.6 % 4,705,554 90.1 % 4,279,178 89.9 %
Income from operations 227,966 8.7 % 225,784 9.4 % 514,581 9.9 % 482,473 10.1 %
Interest expense, net 1,301 0.0 % (1,613) (0.1) % 2,287 0.0 % 649 0.0 %
Other (income) expense, net (985) (0.0) % (916) (0.0) % (3,117) (0.1) % (9,183) (0.2) %
Income before income taxes $227,650 8.7 % $228,313 9.5 % $515,411 9.9 % $491,007 10.3 %
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 goodwill, 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, 2025 and our Form 10-Q for the quarter ended March 31, 2026.
Prior year amounts related to certain facilities previously included in our Behavioral Health Care Services' results have been reclassified into our Acute Care Hospital Services' results as of January 1, 2025 to conform with current year presentation.
The All Acute Care Hospital Services table 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 Six Months ended
June 30, 2026 and 2025
(in thousands)
(unaudited)
Same Facility Basis - Behavioral Health Care Services
---
Three months ended Three months ended Six months ended Six months ended
June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025
Amount % of Net Amount % of Net Amount % of Net Amount % of Net
Revenues Revenues Revenues Revenues
Net revenues $1,929,171 100.0 % $1,796,295 100.0 % $3,747,847 100.0 % $3,490,455 100.0 %
Operating charges:
Salaries, wages and benefits 1,019,296 52.8 % 959,030 53.4 % 2,012,334 53.7 % 1,878,820 53.8 %
Other operating expenses 355,579 18.4 % 325,595 18.1 % 690,002 18.4 % 645,195 18.5 %
Supplies expense 57,889 3.0 % 56,957 3.2 % 116,345 3.1 % 111,952 3.2 %
Depreciation and amortization 56,764 2.9 % 51,873 2.9 % 111,920 3.0 % 102,752 2.9 %
Lease and rental expense 12,054 0.6 % 10,412 0.6 % 23,359 0.6 % 21,290 0.6 %
Subtotal-operating expenses 1,501,582 77.8 % 1,403,867 78.2 % 2,953,960 78.8 % 2,760,009 79.1 %
Income from operations 427,589 22.2 % 392,428 21.8 % 793,887 21.2 % 730,446 20.9 %
Interest expense, net 1,168 0.1 % 1,104 0.1 % 2,360 0.1 % 2,179 0.1 %
Other (income) expense, net (983) (0.1) % (837) (0.0) % (1,866) (0.0) % (1,662) (0.0) %
Income before income taxes $427,404 22.2 % $392,161 21.8 % $793,393 21.2 % $729,929 20.9 %
All Behavioral Health Care Services
---
Three months ended Three months ended Six months ended Six months ended
June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025
Amount % of Net Amount % of Net Amount % of Net Amount % of Net
Revenues Revenues Revenues Revenues
Net revenues $2,025,065 100.0 % $1,877,273 100.0 % $3,907,217 100.0 % $3,616,337 100.0 %
Operating charges:
Salaries, wages and benefits 1,040,604 51.4 % 975,553 52.0 % 2,041,698 52.3 % 1,898,919 52.5 %
Other operating expenses 443,752 21.9 % 383,412 20.4 % 835,650 21.4 % 745,674 20.6 %
Supplies expense 58,475 2.9 % 58,289 3.1 % 117,262 3.0 % 113,437 3.1 %
Depreciation and amortization 58,895 2.9 % 53,170 2.8 % 115,529 3.0 % 104,322 2.9 %
Lease and rental expense 12,212 0.6 % 10,963 0.6 % 23,727 0.6 % 22,327 0.6 %
Subtotal-operating expenses 1,613,938 79.7 % 1,481,387 78.9 % 3,133,866 80.2 % 2,884,679 79.8 %
Income from operations 411,127 20.3 % 395,886 21.1 % 773,351 19.8 % 731,658 20.2 %
Interest expense, net 1,273 0.1 % 1,104 0.1 % 2,545 0.1 % 2,179 0.1 %
Other (income) expense, net (983) (0.0) % (837) (0.0) % (1,866) (0.0) % (1,662) (0.0) %
Income before income taxes $410,837 20.3 % $395,619 21.1 % $772,672 19.8 % $731,141 20.2 %
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 goodwill, 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 the
condensed consolidated financial statements and notes thereto as contained in our Form 10-K for the year ended December 31, 2025 and our Form 10-Q for the quarter ended March 31, 2026.
Prior year amounts related to certain facilities previously included in our Behavioral Health Care Services' results have been reclassified into our Acute Care Hospital Services' results as of January 1, 2025 to conform with current year presentation.
The All Behavioral Health Care Services table 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.
Universal Health Services, Inc.
---
Selected Hospital Statistics
---
For the Three Months ended
June 30, 2026 and 2025
(unaudited)
AS REPORTED:
ACUTE BEHAVIORAL HEALTH
6/30/26 6/30/25 % change 6/30/26 6/30/25 % change
Hospitals owned and leased 30 28 7.1 % 346 338 2.4 %
Average licensed beds 7,434 7,159 3.8 % 24,587 24,254 1.4 %
Average available beds 7,262 6,987 3.9 % 24,487 24,154 1.4 %
Patient days 420,001 412,885 1.7 % 1,631,375 1,620,819 0.7 %
Average daily census 4,615.4 4,537.2 1.7 % 17,927.2 17,811.2 0.7 %
Occupancy-licensed beds 62.1 % 63.4 % -2.0 % 72.9 % 73.4 % -0.7 %
Occupancy-available beds 63.6 % 64.9 % -2.1 % 73.2 % 73.7 % -0.7 %
Admissions 88,649 87,278 1.6 % 116,857 118,519 -1.4 %
Length of stay 4.7 4.7 0.2 % 14.0 13.7 2.1 %
Inpatient revenue $15,586,752 $13,886,867 12.2 % $3,302,515 $2,993,234 10.3 %
Outpatient revenue 11,194,461 9,638,566 16.1 % 326,489 294,989 10.7 %
Total patient revenue 26,781,213 23,525,433 13.8 % 3,629,004 3,288,223 10.4 %
Other revenue 353,881 285,690 23.9 % 96,736 93,542 3.4 %
Gross revenue 27,135,094 23,811,123 14.0 % 3,725,740 3,381,765 10.2 %
Total deductions 24,525,095 21,407,286 14.6 % 1,700,675 1,504,492 13.0 %
Net revenue $2,609,999 $2,403,837 8.6 % $2,025,065 $1,877,273 7.9 %
SAME FACILITY:
ACUTE BEHAVIORAL HEALTH
6/30/26 6/30/25 % change 6/30/26 6/30/25 % change
Hospitals owned and leased 29 29 0.0 % 334 334 0.0 %
Average licensed beds 7,330 7,159 2.4 % 23,703 23,652 0.2 %
Average available beds 7,158 6,987 2.4 % 23,603 23,552 0.2 %
Patient days 419,710 412,885 1.7 % 1,597,105 1,576,830 1.3 %
Average daily census 4,612.2 4,537.2 1.7 % 17,550.6 17,327.8 1.3 %
Occupancy-licensed beds 62.9 % 63.4 % -0.7 % 74.0 % 73.3 % 1.1 %
Occupancy-available beds 64.4 % 64.9 % -0.8 % 74.4 % 73.6 % 1.1 %
Admissions 88,562 87,278 1.5 % 114,911 114,433 0.4 %
Length of stay 4.7 4.7 0.2 % 13.9 13.8 0.9 %
Prior year amounts related to certain facilities previously included in our Behavioral Health Care Services' results have been reclassified into our Acute Care Hospital Services' results as of January 1, 2025 to conform with current year presentation.
Universal Health Services, Inc.
---
Selected Hospital Statistics
---
For the Six Months ended
June 30, 2026 and 2025
(unaudited)
AS REPORTED:
ACUTE BEHAVIORAL HEALTH
6/30/26 6/30/25 % change 6/30/26 6/30/25 % change
Hospitals owned and leased 30 28 7.1 % 346 338 2.4 %
Average licensed beds 7,300 7,076 3.2 % 24,579 24,170 1.7 %
Average available beds 7,128 6,904 3.2 % 24,479 24,070 1.7 %
Patient days 851,080 841,922 1.1 % 3,250,959 3,209,365 1.3 %
Average daily census 4,702.1 4,651.5 1.1 % 17,961.1 17,731.3 1.3 %
Occupancy-licensed beds 64.4 % 65.7 % -2.0 % 73.1 % 73.4 % -0.4 %
Occupancy-available beds 66.0 % 67.4 % -2.1 % 73.4 % 73.7 % -0.4 %
Admissions 176,538 175,368 0.7 % 234,348 234,869 -0.2 %
Length of stay 4.8 4.8 0.4 % 13.9 13.7 1.5 %
Inpatient revenue $31,549,934 $28,205,158 11.9 % $6,568,817 $5,838,122 12.5 %
Outpatient revenue 22,007,439 18,966,362 16.0 % 638,981 569,023 12.3 %
Total patient revenue 53,557,373 47,171,520 13.5 % 7,207,798 6,407,145 12.5 %
Other revenue 691,138 566,133 22.1 % 192,211 181,921 5.7 %
Gross revenue 54,248,511 47,737,653 13.6 % 7,400,009 6,589,066 12.3 %
Total deductions 49,028,376 42,976,002 14.1 % 3,492,792 2,972,729 17.5 %
Net revenue $5,220,135 $4,761,651 9.6 % $3,907,217 $3,616,337 8.0 %
SAME FACILITY:
ACUTE BEHAVIORAL HEALTH
6/30/26 6/30/25 % change 6/30/26 6/30/25 % change
Hospitals owned and leased 29 29 0.0 % 334 334 0.0 %
Average licensed beds 7,177 7,076 1.4 % 23,860 23,754 0.4 %
Average available beds 7,005 6,904 1.5 % 23,760 23,654 0.4 %
Patient days 845,542 841,922 0.4 % 3,190,451 3,147,427 1.4 %
Average daily census 4,671.5 4,651.5 0.4 % 17,626.8 17,389.1 1.4 %
Occupancy-licensed beds 65.1 % 65.7 % -1.0 % 73.9 % 73.2 % 0.9 %
Occupancy-available beds 66.7 % 67.4 % -1.0 % 74.2 % 73.5 % 0.9 %
Admissions 175,342 175,368 0.0 % 231,179 229,482 0.7 %
Length of stay 4.8 4.8 0.4 % 13.8 13.7 0.6 %
Prior year amounts related to certain facilities previously included in our Behavioral Health Care Services' results have been reclassified into our Acute Care Hospital Services' results as of January 1, 2025 to conform with current year presentation.
Universal Health Services, Inc.
---
Supplemental Non-GAAP Disclosures
---
Revised 2026 Operating Results Forecast
---
(in thousands, except per share amounts)
Revised Forecast For The Year Ending December 31,
2026
% Net % Net
Low revenues High revenues
Net revenues $18,501,000 $18,762,000
Adjusted net income attributable to UHS (a) $1,322,985 $1,404,050
Depreciation and amortization 669,318 669,318
Interest expense 204,898 204,898
Other (income) expense, net (9,924) (9,924)
Provision for income taxes 422,378 448,259
Adjusted EBITDA net of NCI (b) $2,609,655 14.1 % $2,716,601 14.5 %
Adjusted net income attributable to UHS, per diluted share (a) $22.28 $23.65
Shares used in computing diluted earnings per share 59,369 59,369
(a) Adjusted net income attributable to UHS/per diluted share exclude the following items because we do not believe we can forecast these items with sufficient accuracy. Such items include: the impact of future items, if applicable, that are nonrecurring or non-operational in nature including items such as pre-tax unrealized gains/losses resulting from changes in the value of certain non-marketable securities, the impact of ASU 2016-09, and other potential material items including, but not limited
to, impairments of goodwill, 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, potential impacts of non-ordinary acquisitions, divestitures, joint ventures or other strategic transactions, other amounts that may be reflected in the current or prior year financial statements that relate to prior periods, and the impact of share repurchases that
differ from our forecasted assumptions. Adjusted net income attributable to UHS/per diluted share is also subject to certain conditions including those as set forth in General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures.
(b) Adjusted EBITDA net of NCI is a non-GAAP financial measure and should not be considered a measure of financial performance under GAAP. We believe Adjusted EBITDA net of NCI is helpful to our investors as a measure of operating performance.
View original content:https://www.prnewswire.com/news-releases/universal-health-services-inc-announces-financial-results-for-the-three-and-six-month-periods-ended-june-30-2026-and-revises-2026-full-year-operating-results-forecast-302835623.html
SOURCE Universal Health Services, Inc.
Darren Lehrich, Vice President-Investor Relations, 610-382-3310, Darren.Lehrich@uhsinc.com