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Dec 31, 2022
UHS Q4 2022 Earnings Report
UHS's net revenues increased and net income decreased during the fourth quarter of 2022.
Key Takeaways
Universal Health Services, Inc. reported a 5.2% increase in net revenues to $3.447 billion for the fourth quarter of 2022, compared to $3.275 billion in the fourth quarter of 2021. However, net income attributable to UHS decreased to $174.8 million, or $2.43 per diluted share, from $239.1 million, or $3.00 per diluted share, in the same period of the previous year. Adjusted net income attributable to UHS was $217.1 million, or $3.02 per diluted share, compared to $235.1 million, or $2.95 per diluted share, for the fourth quarter of 2021.
Net revenues increased by 5.2% to $3.447 billion during Q4 2022.
Net income attributable to UHS was $174.8 million, or $2.43 per diluted share, during Q4 2022.
Adjusted net income attributable to UHS was $217.1 million, or $3.02 per diluted share, during Q4 2022.
EBITDA net of NCI was $419.0 million during Q4 2022, as compared to $464.5 million during Q4 2021.
UHS
UHS
UHS Revenue by Segment
Revenue by Segment
Acute Care Services Revenue
CapyFin.comBehavioral Health Revenue
CapyFin.com Forward Guidance
UHS projects net revenues between $14.044 billion and $14.314 billion and Adjusted EPS-diluted between $9.50 and $10.50 per share for the year ending December 31, 2023. The adjusted EBITDA net of NCI is expected to be between $1.662 billion and $1.753 billion.
Positive Outlook
- Net revenues are estimated to be approximately $14.044 billion to $14.314 billion representing an increase of approximately 4.8% to 6.8% over our 2022 net revenues of approximately $13.399 billion.
- Adjusted EBITDA net of NCI is estimated to be approximately $1.662 billion to $1.753 billion, as compared to our 2022 Adjusted EBITDA net of NCI of $1.662 billion.
- Adjusted EPS-diluted range is estimated to be $9.50 per diluted share to $10.50 per diluted share, as compared to our adjusted net income attributable to UHS of $9.88 per diluted share for the year ended December 31, 2022, as calculated on the attached Supplemental Schedule.
Challenges Ahead
- The 2023 forecasted amounts exclude the impact of future items, if applicable, that are nonrecurring or non-operational in nature including items such as pre-tax unrealized gains/losses resulting from changes in the market value of shares of certain equity securities.
- Our projected interest expense during 2023 is estimated to increase by approximately $71 million, or 56%, over the interest expense incurred during 2022.
- The increase is due primarily to increases in our projected average cost of borrowings, and aggregate average borrowings outstanding, pursuant to our revolving credit and tranche A term loan facilities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income