Universal Health Services, Inc. Reports Strong Financial Results for Fourth Quarter and Full Year 2023, Provides 2024 Operating Results Forecast
Universal Health Services, Inc. (UHS) has reported strong financial results for the fourth quarter and full year of 2023, with net revenues increasing by 7.4% to $3.704 billion during the fourth quarter of 2023 compared to $3.447 billion in the same period of 2022. Reported net income attributable to UHS was $216.4 million, or $3.16 per diluted share, during the fourth quarter of 2023, showing growth from $174.8 million, or $2.43 per diluted share, in the fourth quarter of 2022.
Adjusted net income attributable to UHS for the fourth quarter of 2023 was $214.9 million, or $3.13 per diluted share, compared to $217.1 million, or $3.02 per diluted share, in the fourth quarter of 2022. The company also reported an increase in EBITDA net of NCI from $419.0 million in the fourth quarter of 2022 to $476.9 million in the fourth quarter of 2023.
The company’s acute care services saw an increase in adjusted admissions and patient days on a same facility basis, with net revenues generated from acute care services increasing by 9.7% during the fourth quarter of 2023 compared to the same period in 2022. Behavioral health care services also showed growth, with adjusted admissions and patient days increasing by 1.4% and 1.1%, respectively.
Looking ahead to 2024, UHS has provided a forecast for consolidated net revenues, adjusted EBITDA net of NCI, and net income attributable to UHS per diluted share. The company expects net revenues to be in the range of $15.411 billion to $15.706 billion, with adjusted EBITDA net of NCI between $1.931 billion and $2.019 billion. The forecasted EPS-diluted is expected to be between $13.00 and $14.00 per share.
Overall, Universal Health Services, Inc. has demonstrated strong financial performance in 2023 and is optimistic about its outlook for 2024. Investors and analysts can learn more about the company’s results and forecast by participating in the upcoming conference call scheduled for February 28, 2024.