Universal Health Stock Price, News & Analysis

Universal Health Realty Income Trust (NYSE:UHT) reported a net income of $4.5 million or $.32 per diluted share for Q1 2023, a decrease from $5.4 million or $.39 per diluted share in Q1 2022.

This decline amounts to a decrease of $946,000 or $.07 per diluted share, largely attributed to:

• An increase in interest expense by $1.5 million due to higher borrowing rates.
• Demolition costs of $265,000 for a vacant facility.

Partially offsetting these declines, an increase in total income from various properties contributed $794,000.

Funds from operations (FFO) decreased to $11.4 million or $.82 per diluted share from $12.4 million or $.90 per diluted share a year earlier. The dividend for Q1 2023 was declared at $.715 per share.

Universal Health Services, Inc. (UHS) reported a strong first quarter of 2023, achieving a net income of $163.1 million, or $2.28 per diluted share, up from $153.9 million or $2.02 per share in Q1 2022. Net revenues grew by 5.3% to $3.468 billion, compared to $3.293 billion in the prior year. Adjusted net income was $167.6 million, or $2.34 per diluted share, an increase from $163.5 million in the previous year. EBITDA also rose to $407.3 million from $368.3 million. Acute care services saw a 3.5% revenue increase, while behavioral health care services surged by 9.7%. However, net cash from operations decreased to $291 million from $445 million in 2022, primarily due to changes in working capital. The company has an available repurchase authorization of $869 million for its stock buyback program.

Universal Health Realty Income Trust (NYSE:UHT) announced a dividend of $.715 per share payable on March 31, 2023. Shareholders of record as of March 20, 2023 will receive this dividend. The Trust focuses on investments in healthcare-related facilities across the U.S., with 76 investments in 21 states. This announcement reflects the Trust's ongoing commitment to providing returns to its investors while maintaining a diversified portfolio in the healthcare sector.

Universal Health Realty Income Trust (NYSE: UHT) reported a net income of $5.6 million, or $0.41 per diluted share, for Q4 2022, down from $91.6 million, or $6.65 per diluted share, in Q4 2021, primarily due to a significant prior-year gain from asset divestitures. Adjusted net income remained stable year-over-year. For the full year 2022, net income fell to $21.1 million, or $1.53 per diluted share, from $109.2 million, or $7.92 per diluted share in 2021, reflecting a decrease in adjusted net income. Funds from operations (FFO) decreased to $12.4 million, or $0.90 per diluted share, in Q4 2022. The company is also managing vacant specialty facilities and ongoing construction projects.

Universal Health Services (UHS) reported a fourth-quarter net income of $174.8 million ($2.43 per share) for 2022, down from $239.1 million ($3.00 per share) in 2021. Despite a 5.2% increase in net revenues to $3.447 billion, adjusted net income decreased to $217.1 million ($3.02 per share) from $235.1 million ($2.95 per share) year-over-year. For the full year, UHS reported net income of $675.6 million ($9.14 per share), down from $991.6 million ($11.82 per share) in 2021. The company forecasted 2023 net revenues between $14.044 billion and $14.314 billion with adjusted EPS projected at $9.50 to $10.50.