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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