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Mar 31, 2024
UHT Q1 2024 Earnings Report
Reported first quarter financial results, with net income increasing due to property income and reduced expenses, offset by higher interest expenses.
Key Takeaways
Universal Health Realty Income Trust reported a net income of $5.3 million, or $0.38 per diluted share, for the first quarter of 2024, compared to $4.5 million, or $0.32 per diluted share, for the same period in 2023. FFO increased to $12.4 million, or $0.90 per diluted share, from $11.4 million, or $0.82 per diluted share in the prior year.
Net income increased by $841,000, or $0.06 per diluted share, compared to Q1 2023.
Funds from operations (FFO) rose to $12.4 million, or $0.90 per diluted share.
Increase in net income was due to higher property income and reduced expenses related to vacant facilities, offset by increased interest expense.
A dividend of $0.725 per share was declared on March 6, 2024, and paid on March 29, 2024.
Revenue by Segment
Forward Guidance
Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially.
Challenges Ahead
- Decreases in staffing availability and related increases to wage expense
- Impact of government and administrative regulation of the health care industry
- Declining patient volumes and unfavorable changes in payer mix
- 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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