The following is a summary of the Universal Health Services, Inc. (UHS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• UHS reported Q1 2024 net income attributable to UHS per diluted share of $3.81 and adjusted net income per diluted share was $3.70.

• Acute Care Services' net revenues increased by 9.6% YoY, driven by significant demand and increased net revenue per adjusted admission of 4.6%.

• Same-facility net revenues in Behavioral Health Hospitals grew by 10.4% due to an 8.2% increase in revenue per adjusted day.

• UHS spent $209 million on capital expenditures and repurchased 700,000 of their own shares at a cost of approximately $125 million.

• Cash generated from operating activities increased by $106 million to reach $396 million.

• As of the end of Q1 2024, UHS had $733 million of aggregate available borrowing capacity pursuant to their $1.2 billion revolving credit facility.

Business Progress:

• Improvement in patient day volumes is expected in UHS' Behavioral segment, with anticipated growth around 3%.

• Acute Care volumes are expected to moderate or stay robust, with Acuity trends projected to continue their recovery trajectory.

• Both business segments of UHS have benefited from a significant increase in Medicaid supplemental payments.

• UHS will continue to manage resources, enhance productivity, and manage expenses amidst regular increases in Medicaid reimbursement.

• West Henderson, UHS's new facility, is scheduled to open at the end of the year to cater to the significant population growth in the area.

• UHS is making significant capital expenditure investments in both Acute and Behavioral segments; this includes expanding emergency, outpatient, and high-acuity services in acute segment and increasing inpatient capacity and developing freestanding outpatient facilities, telemedicine, and addiction treatment facilities in the behavioral segment.

More details: Universal Health Services IR

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