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Mar 31, 2023
UHT Q1 2023 Earnings Report
Reported first quarter financial results for 2023.
Key Takeaways
Universal Health Realty Income Trust reported a net income of $4.5 million, or $0.32 per diluted share, for the three-month period ended March 31, 2023, compared to $5.4 million, or $0.39 per diluted share, during the first quarter of 2022. Funds from operations were $11.4 million, or $0.82 per diluted share, during the first quarter of 2023, as compared to $12.4 million, or $0.90 per diluted share during the first quarter of 2022.
Net income decreased by $946,000, or $0.07 per diluted share, compared to the first quarter of 2022.
Interest expense increased due to a rise in the average borrowing rate and outstanding borrowings.
Demolition expenses of $265,000 were incurred related to a vacant facility in Chicago.
Income generated at various properties increased by $794,000, with a reduction in building expenses for the vacant Chicago facility.
Revenue by Segment
Forward Guidance
This press release contains forward-looking statements based on current management expectations. Numerous factors, including those disclosed herein, as well as the operations and financial results of each of our tenants, those related to healthcare industry trends and those detailed in our filings with the Securities and Exchange Commission, may cause the results to differ materially from those anticipated in the forward-looking statements.
Challenges Ahead
- Decreases in staffing availability and related increases to wage expense experienced by our tenants resulting from the nationwide shortage of nurses and other clinical staff and support personnel
- The impact of government and administrative regulation of the health care industry
- Declining patient volumes and unfavorable changes in payer mix caused by deteriorating macroeconomic conditions (including increases in uninsured and underinsured patients as the result of business closings and layoffs)
- Potential disruptions related to supplies required for our tenants’ employees and patients
- Potential increases to other expenditures
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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