Universal Health Services Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Universal Health Services Inc. filed its Q1 2024 10-Q, detailing financial positions and operational segments.</b>

AI Summary

UNIVERSAL HEALTH SERVICES INC (UHS) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Filing is a 10-Q for Universal Health Services Inc. (UHS) for the period ending March 31, 2024. The company's business address is 367 S GULPH RD, KING OF PRUSSIA, PA 19406. The filing includes data related to various financial instruments and liabilities, such as common stock, debt, and revolving credit facilities. Specific segments mentioned include Acute Care Hospital Services and Behavioral Health Services. The filing references US GAAP standards and specific plan details like the TwoThousandTwentyStockIncentivePlan.

Why It Matters

For investors and stakeholders tracking UNIVERSAL HEALTH SERVICES INC, this filing contains several important signals. This 10-Q provides a quarterly update on UHS's financial health, operational performance, and any material changes since the last filing, crucial for investors to assess ongoing business trends. The detailed financial disclosures within the 10-Q are essential for understanding the company's asset base, liabilities, and equity structure, informing investment decisions.

Risk Assessment

Risk Level: medium — UNIVERSAL HEALTH SERVICES INC shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) which typically contains routine financial information and does not indicate immediate, significant positive or negative developments, but requires careful review of detailed financial data.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to identify trends in revenue, profitability, and debt levels for UHS.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q filing)
• 2024-05-08 — Filing Date (10-Q filing)
• 1231 — Fiscal Year End (Company data)
• 001-10765 — SEC File Number (Filing values)

Key Players & Entities

• UNIVERSAL HEALTH SERVICES INC (company) — Filer name
• UHS (company) — Ticker symbol
• KING OF PRUSSIA (company) — Business address city
• PA (company) — Business address state
• 19406 (company) — Business address zip
• 2024-03-31 (date) — Reporting period end date
• 2024-05-08 (date) — Filing date
• 8062 (company) — Standard Industrial Classification

FAQ

Industry Context

Universal Health Services Inc. operates within the healthcare sector, specifically in general medical and surgical hospitals, NEC.

Regulatory Implications

The filing adheres to the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures like the 10-Q.

What Investors Should Do

1. Analyze the consolidated balance sheets for changes in assets, liabilities, and equity.
2. Review the consolidated statements of operations for revenue trends and profitability by segment.
3. Examine the cash flow statements to understand the company's liquidity and investment activities.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, providing the first quarterly update after the year-end report.

Key Financial Figures

• $0.01 — hich registered Class B Common Stock, $0.01 par value UHS New York Stock Exchan

Filing Documents

• uhs-20240331.htm (10-Q) — 2688KB
• uhs-ex22_1.htm (EX-22.1) — 919KB
• uhs-ex31_1.htm (EX-31.1) — 10KB
• uhs-ex31_2.htm (EX-31.2) — 9KB
• uhs-ex32_1.htm (EX-32.1) — 6KB
• uhs-ex32_2.htm (EX-32.2) — 6KB
• 0000950170-24-055683.txt (&nbsp;) — 10420KB
• uhs-20240331.xsd (EX-101.SCH) — 1399KB
• uhs-20240331_htm.xml (XML) — 1476KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) Condensed Consolidated Statements of Income – Three Months Ended March 31, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income – Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Balance Sheets – March 31, 2024 and December 31, 2023 5 Condensed Consolidated Statements of Changes in Equity – Three Months Ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows - Three Months Ended March 31, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 56

Controls and Procedures

Item 4. Controls and Procedures 56

Other Information

PART II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 57

Risk Factors

Item 1A. Risk Factors 57

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 58

Other Information

Item 5. Other Information 58

Exhibits

Item 6. Exhibits 59

Signatures

Signatures 60 This Quarterly Report on Form 10-Q is for the quarter ended March 31, 2024. This Report modifies and supersedes documents filed prior to this Report. Information that we file with the Securities and Exchange Commission (the "SEC") in the future will automatically update and supersede information contained in this Report. In this Quarterly Report, "we," "us," "our" "UHS" and the "Company" refer to Universal Health Services, Inc. and its subsidiaries. UHS is a registered trademark of UHS of Delaware, Inc., the management company for, and a wholly-owned subsidiary of Universal Health Services, Inc. Universal Health Services, Inc. is a holding company and operates through its subsidiaries including its management company, UHS of Delaware, Inc. All healthcare and management operations are conducted by subsidiaries of Universal Health Services, Inc. To the extent any reference to "UHS" or "UHS facilities" in this report including letters, narratives or other forms contained herein relates to our healthcare or management operations it is referring to Universal Health Services, Inc.'s subsidiaries including UHS of Delaware, Inc. Further, the terms "we," "us," "our" or the "Company" in such context similarly refer to the operations of Universal Health Services Inc.'s subsidiaries including UHS of Delaware, Inc. Any reference to employees or employment contained herein refers to employment with or employees of the subsidiaries of Universal Health Services, Inc. including UHS of Delaware, Inc. 2

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (amounts in thousands, except per share amounts) (unaudited) Three months ended March 31, 2024 2023 Net revenues $ 3,843,582 $ 3,467,518 Operating charges: Salaries, wages and benefits 1,842,624 1,753,335 Other operating expenses 1,032,170 878,951 Supplies expense 403,573 379,989 Depreciation and amortization 141,003 141,621 Lease and rental expense 35,450 34,922 3,454,820 3,188,818 Income from operations 388,762 278,700 Interest expense, net 52,826 50,876 Other (income) expense, net ( 150 ) 13,723 Income before income taxes 336,086 214,101 Provision for income taxes 70,264 51,726 Net income 265,822 162,375 Less: Net income (loss) attributable to noncontrolling interests 3,988 ( 740 ) Net income attributable to UHS $ 261,834 $ 163,115 Basic earnings per share attributable to UHS $ 3.90 $ 2.31 Diluted earnings per share attributable to UHS $ 3.82 $ 2.28 Weighted average number of common shares - basic 67,204 70,535 Add: Other share equivalents 1,278 952 Weighted average number of common shares and equivalents - diluted 68,482 71,487 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 UNIVERSAL HEALTH SERVICES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEM ENTS OF COMPREHENSIVE INCOME (amounts in thousands, unaudited) Three months ended March 31, 2024 2023 Net income $ 265,822 $ 162,375 Other comprehensive income (loss): Foreign currency translation adjustment ( 973 ) 4,198 Other 17 0 Other comprehensive income (loss) before tax ( 956 ) 4,198 Income tax expense (benefit) related to items of other comprehensive income (loss) 420 ( 424 ) Total other comprehensive (loss) income, net of

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View this 10-Q filing on SEC EDGAR