Key Highlights

  • Universal Health Services reported third quarter net revenues of USD 4.733 billion, up 5.3% year over year.
  • Net income attributable to UHS was USD 308.7 million, or USD 5.22 per diluted share, down from USD 373.0 million a year earlier.
  • Same facility acute care net revenues increased 4.7%, with adjusted admissions and patient days each up 4.9%.
  • Behavioral health care same facility net revenues increased 4.0%, with adjusted admissions up 2.5%.

Revenue Grows as One-Time Items Affect Net Income

Universal Health Services, Inc. (NYSE:UHS) reported third quarter net revenues of USD 4.733 billion, up 5.3% from USD 4.495 billion a year earlier. Net income attributable to UHS was USD 308.7 million, or USD 5.22 per diluted share, compared with USD 373.0 million, or USD 5.86 per diluted share, in the third quarter of 2025.

Results included an aggregate net favorable pre-tax impact of approximately USD 21 million from items not included in the company's original 2026 forecast: a USD 47 million favorable impact from increased Medicaid supplemental payment programs in states including Washington, D.C. and California, partially offset by a USD 26 million unfavorable impact from an increase to self-insured professional and general liability reserves tied to a tentative legal settlement reached during the quarter.

Same Facility Metrics Show Continued Volume Growth

At acute care hospitals owned during both periods, adjusted admissions and adjusted patient days each increased 4.9% compared with the third quarter of 2025, while net revenue per adjusted admission and per adjusted patient day each decreased 1.7%. Net revenues from acute care services on a same facility basis increased 4.7%.

At behavioral health care facilities on a same facility basis, adjusted admissions increased 2.5% and adjusted patient days increased 2.1%, with net revenue per adjusted admission up 1.7% and net revenue per adjusted patient day up 2.1%. Net revenues from behavioral health care services on a same facility basis increased 4.0%.

EBITDA Metrics and Strategic Activity

EBITDA net of noncontrolling interests was USD 640.4 million, compared with USD 684.2 million a year earlier, while adjusted EBITDA net of noncontrolling interests was USD 624.6 million, compared with USD 670.6 million. The company completed its acquisition of Talkspace, Inc. in August 2026, which the company said it continues to work toward integrating to realize its expected benefits and synergies.

Net cash provided by operating activities increased 14.9% to USD 1.481 billion for the first nine months of 2026, compared with USD 1.290 billion in the same period of 2025, reflecting strong cash generation despite the net income decline.

Volume and Reimbursement Metrics to Track

Same facility admissions and patient day growth relative to the 4.9% and 2.5% increases reported this quarter for acute care and behavioral health, respectively, continued Medicaid supplemental payment trends across the company's state footprint, and progress integrating the Talkspace acquisition are among the items the company has flagged for investors.