Universal Health Services Annual Profit Outlook Falls Short Of Expectations, Shares Tumble
Acute hospital and behavioral health facility operator Universal Health Services Inc (NYSE: UHS) reported Q4 revenue of $3.45 billion, +3.9% Y/Y, slightly above the consensus of $3.40 billion.
The company reported an adjusted EPS of $3.02, up from $2.95 a year ago, beating the consensus of $2.96.
UHS highlighted a 5.5% year-over-year increase in quarterly adjusted admissions and a 1.6% increase in adjusted patient days, though net revenue per adjusted admission fell 3.8%.
In the behavioral health segment, adjusted admissions for the quarter rose 0.7% year over year, adjusted patient days grew 2%, and net revenue per adjusted admission increased by 3.4%.
Looking ahead, UHS forecasted 2023 full-year net revenues between $14.04-$14.31 billion compared to the consensus of $13.98 billion.
It expects adjusted EBITDA net of non-controlling interests of $1.55-$1.75 billion, translating to an adjusted EPS of $9.50-$10.50, below the consensus of $10.79.
The company plans capital expenditures between $725-$875 million.
Price Action: UHS shares are down 9.90% at $131.59 on the last check Tuesday.
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
This article Universal Health Services Annual Profit Outlook Falls Short Of Expectations, Shares Tumble originally appeared on Benzinga.com
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.