Universal Health Services announced its first-quarter 2025 financial results on April 28, 2025, with reported net income attributable to UHS of $316.7 million, or $4.80 per diluted share, compared to $261.8 million, or $3.82 per diluted share, in Q1 2024. Net revenues increased by 6.7% to $4.100 billion.
Adjusted net income attributable to UHS was $319.5 million, or $4.84 per diluted share, surpassing Wall Street estimates. However, net revenues of $4.100 billion missed market expectations.
The Acute Care segment's same-facility net revenues increased by 6.5%, driven by a 2.4% rise in adjusted admissions. In contrast, the Behavioral Health segment experienced a decline, with same-facility adjusted admissions decreasing by 1.6% and adjusted patient days falling by 0.3%, though net revenues still increased by 5.5% due to pricing gains.
Net cash provided by operating activities decreased to $360 million in Q1 2025 from $396 million in Q1 2024, primarily due to an unfavorable $144 million change in accounts receivable. This was partly attributed to delays in Medicaid supplemental payments, including $82 million from Nevada that was subsequently received in April 2025.
UHS maintained its full-year 2025 operating results forecast, signaling confidence despite the mixed Q1 performance. The company repurchased 1.0 million shares for $180.6 million during the quarter, with $643.7 million remaining under its authorization as of March 31, 2025.
As of March 31, 2025, the company maintained $1.02 billion of aggregate available borrowing capacity under its $1.3 billion revolving credit facility. This liquidity position supports ongoing operations and strategic investments despite the cash flow impact from payment delays.
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