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Jun 30, 2023
US Physical Therapy Q2 2023 Earnings Report
U.S. Physical Therapy's Q2 2023 earnings were reported, featuring record-high quarterly patient volume and a 9.4% increase in net patient revenue from physical therapy operations.
Key Takeaways
U.S. Physical Therapy reported a 7.7% increase in total net revenue to $151.5 million, driven by record patient volumes and new clinic additions, although net income decreased due to higher interest expenses. Management reaffirmed its Adjusted EBITDA guidance for 2023.
Adjusted EBITDA increased to $21.7 million, up from $21.3 million in the second quarter of 2022.
Net patient revenue from physical therapy operations rose by 9.4% to $129.3 million.
Average visits per clinic per day reached an all-time high of 30.4.
The company added 13 clinics and closed four, bringing the total to 656 clinics as of June 30, 2023.
Revenue by Segment
Forward Guidance
Management reaffirms that it currently expects the Company’s Adjusted EBITDA for 2023 to be in the range of $75.0 million to $80.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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