Here are the 10-Q quarterly reports from Universal Health Services, Inc. (UHS) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow UHS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full UHS filings page.
Universal Health Services (UHS) reported third-quarter 2026 net revenues of $4.733 billion, versus $4.495 billion a year earlier. Net income attributable to UHS was $308.684 million, versus $372.957 million, and diluted earnings per share were $5.22, versus $5.86. For the first nine months, revenues were $13.867 billion versus $12.879 billion, while cash provided by operating activities was $1.481 billion versus $1.290 billion.
UHS completed its acquisition of Talkspace in August 2026 and drew $400 million under a delayed-draw term loan at closing; total debt was $5.7 billion as of September 30, 2026. Laurel Ridge, a 330-bed behavioral health facility, was terminated from Medicare and Medicaid effective April 30, 2026; it submitted a recertification application and reported a $16 million pretax loss for the first nine months. After Utah revoked licenses at both Provo Canyon School campuses in July, UHS agreed to relinquish their adolescent licenses. Following the behavioral-health segment president’s resignation, President and CEO Marc D. Miller assumed interim segment responsibilities.
Universal Health Services reported Q2 2026 net revenues of $4.64 billion, up from $4.28 billion a year earlier. Income from operations was $516.7 million and net income attributable to UHS was $358.4 million, or diluted EPS of $5.98 versus $5.43 in Q2 2025. For the first six months, net revenues were $9.13 billion and net income attributable to UHS was $707.1 million, or diluted EPS of $11.63.
Operating cash flow for the first half was $844.9 million, funding $444.8 million of capital spending and $484.6 million of share repurchases, with period‑end cash and restricted cash of $272.4 million. Total debt was about $4.9 billion; the company expanded its credit agreement to a $1.5 billion revolver and larger term loan A, added a $400 million delayed‑draw term loan, and put in place a $700 million short‑term delayed‑draw facility, leaving $1.27 billion of revolver capacity undrawn.
UHS agreed to acquire virtual behavioral‑health provider Talkspace for approximately $835 million, to be financed under the amended credit facilities. Self‑insured professional and general liability reserves increased to $499 million, including a $28 million pre‑tax reserve build in Q2. The company also described ongoing litigation and regulatory matters, including the Cumberland cases, Medicare termination at Laurel Ridge, and license revocations at Provo Canyon School, noting they could affect future results and insurance coverage depending on outcomes.
Universal Health Services reported higher results for the quarter ended March 31, 2026. Net revenues rose to $4.50 billion from $4.10 billion a year earlier, with growth in both acute care and behavioral health segments, including its U.K. operations.
Net income attributable to UHS increased to $348.7 million, and diluted EPS grew to $5.65 from $4.80. Operating cash flow was strong at $401.6 million, funding $217.2 million of capital spending while total debt stood around $4.7 billion.
The company expanded its credit capacity by $900 million and agreed to acquire Talkspace, Inc. for about $835 million, to be financed under its credit facility. However, it faces significant legal exposure, including the Cumberland Litigation, and its Laurel Ridge Treatment Center has been terminated from Medicare and Medicaid, which is expected to drive operating losses during recertification efforts.
Universal Health Services (UHS) reported stronger third‑quarter results. Net revenues were $4,495,245,000, up from $3,963,027,000 a year ago. Income from operations rose to $521,688,000 from $384,165,000. Net income attributable to UHS increased to $372,957,000, and diluted EPS was $5.86 versus $3.80 last year, reflecting improved operating performance across the business.
For the first nine months of 2025, net revenues reached $12,878,781,000 and diluted EPS was $16.07. The balance sheet showed total assets of $15,343,924,000, cash and cash equivalents of $112,895,000, and total debt carrying value of about $4.7 billion. Near‑term liquidity includes a revolving credit facility with approximately $965 million of available capacity as of September 30, 2025. Current maturities of long‑term debt were $740,186,000, highlighting upcoming obligations. Operating cash flow for the nine months was $1,289,704,000, funding $733,932,000 of capital additions and $615,941,000 of share repurchases.
Universal Health Services reported stronger operating results for the quarter and first half of 2025. Net revenues for the three months ended June 30, 2025 were $4.284 billion versus $3.908 billion a year earlier, and net income attributable to UHS was $353.2 million versus $289.2 million, producing basic EPS of $5.49 compared with $4.32 a year ago. For the six months, revenues were $8.384 billion and net income attributable to UHS was $669.9 million, with diluted EPS of $10.23 versus $8.08 in the prior year period.
The balance sheet shows total assets of $14.986 billion and total equity of $7.086 billion at June 30, 2025. Net cash provided by operating activities for the six months was $909.0 million; investing included $505.0 million of capital expenditures; financing used $319.1 million, including $378.5 million of share repurchases and $26.4 million of dividends. Self-insured reserves remain significant ($487 million professional/general liability; $147 million workers’ compensation), and the company disclosed ongoing legal matters including the Cumberland litigation and a confidential settlement that vacated a prior judgment for The Pavilion.