US Physical Therapy Q3 2024 Update
Ticker: USPH · Form: 10-Q · Filed: Nov 8, 2024 · CIK: 885978
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
**USPH Q3 2024 10-Q filed. Financials and operations detailed.**
AI Summary
U.S. Physical Therapy Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter and the year-to-date. Specific revenue figures and business segment performance are outlined within the report.
Why It Matters
This filing provides investors and stakeholders with a crucial update on the financial health and operational performance of U.S. Physical Therapy Inc. during the third quarter of 2024.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant new risks.
Key Players & Entities
- U. S. PHYSICAL THERAPY INC /NV (company) — Filer
- 2024-09-30 (date) — Period of Report
- 2024-11-08 (date) — Filing Date
- 7132977000 (dollar_amount) — Business Phone
FAQ
What were the net patient revenues for the third quarter of 2024?
The filing indicates net patient revenues for the period July 1, 2024, to September 30, 2024, but the specific dollar amount is not provided in the extracted text.
What were the other revenues, including management contract revenues and industrial injury prevention services revenues, for the third quarter of 2023?
The filing indicates other revenues for the period July 1, 2023, to September 30, 2023, but the specific dollar amount is not provided in the extracted text.
What is the fiscal year end for U.S. Physical Therapy Inc.?
The fiscal year end for U.S. Physical Therapy Inc. is December 31.
In which state is U.S. Physical Therapy Inc. incorporated?
U.S. Physical Therapy Inc. is incorporated in Nevada (NV).
What is the primary business address of U.S. Physical Therapy Inc.?
The primary business address is 1300 West Sam Houston Parkway, Suite 300, Houston, TX 77043.
Filing Stats: 4,519 words · 18 min read · ~15 pages · Grade level 19.2 · Accepted 2024-11-08 16:01:43
Filing Documents
- ef20034526_10q.htm (10-Q) — 3206KB
- ef20034526_ex10-1.htm (EX-10.1) — 51KB
- ef20034526_ex31-1.htm (EX-31.1) — 12KB
- ef20034526_ex31-2.htm (EX-31.2) — 12KB
- ef20034526_ex32.htm (EX-32) — 6KB
- 0001140361-24-045836.txt ( ) — 11936KB
- usph-20240930.xsd (EX-101.SCH) — 69KB
- usph-20240930_cal.xml (EX-101.CAL) — 89KB
- usph-20240930_def.xml (EX-101.DEF) — 346KB
- usph-20240930_lab.xml (EX-101.LAB) — 899KB
- usph-20240930_pre.xml (EX-101.PRE) — 529KB
- ef20034526_10q_htm.xml (XML) — 2077KB
Financial Statements
Financial Statements. 3 Consolidated Balance Sheets as of September 30, 2024, and December 31, 2023 3 Unaudited Consolidated Statements of Net Income for the Three and Nine Months Ended September 30, 2024, and 2023 4 Unaudited Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024, and 2023 5 Unaudited Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024, and 2023 6 Unaudited Consolidated Statements of Changes in Shareholders' Equity for the Three and Nine Months Ended September 30, 2024, and 2023 7
Notes to Consolidated Financial Statements
Notes to Consolidated Financial Statements 9 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Item 3. Quantitative and Qualitative Disclosure About Market Risk 49 Item 4.
Controls and Procedures
Controls and Procedures 50
—OTHER INFORMATION
PART II—OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 50 Item 1A.
Risk Factors
Risk Factors 50 Item 5. Other Information 51 Item 6. Exhibits 52
Signatures
Signatures 53 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION ITEM 1.
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS U. S. PHYSICAL THERAPY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS ) September 30 , 2024 December 31, 2023 ASSETS (unaudited) Current assets: Cash and cash equivalents $ 116,959 $ 152,825 Patient accounts receivable, less provision for credit losses of $ 3,443 and $ 2,736 , respectively 57,022 51,866 Accounts receivable - other 20,056 17,854 Other current assets 10,833 10,830 Total current assets 204,870 233,375 Fixed assets: Furniture and equipment 66,782 63,982 Leasehold improvements 48,385 46,941 Fixed assets, gross 115,167 110,923 Less accumulated depreciation and amortization ( 88,602 ) ( 84,821 ) Fixed assets, net 26,565 26,102 Operating lease right-of-use assets 103,938 103,431 Investment in unconsolidated affiliate 12,168 12,256 Goodwill 554,642 509,571 Other identifiable intangible assets, net 124,309 109,682 Other assets 2,699 2,821 Total assets $ 1,029,191 $ 997,238 LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST, USPH SHAREHOLDERS' EQUITY AND NON-CONTROLLING INTEREST Current liabilities: Accounts payable - trade $ 6,361 $ 3,898 Accrued expenses 64,506 55,344 Current portion of operating lease liabilities 34,828 35,252 Current portion of term loan and notes payable 9,605 7,691 Total current liabilities 115,300 102,185 Notes payable, net of current portion 534 1,289 Term loan, net of current portion and deferred financing costs 132,382 137,702 Deferred taxes 24,913 24,815 Operating lease liabilities, net of current portion 77,001 76,653 Other long-term liabilities 8,343 2,356 Total liabilities 358,473 345,000 Redeemable non-controlling interest - temporary equity 186,602 174,828 Commitments and Contingencies U.S. Physical Therapy, Inc. ("USPH") shareholders' equity: Preferred stock, $ 0.01 par value, 500,000 shares