{"success":true,"data":{"pressRelease":{"id":"99621","rtpr_id":"nPn5TDzZpa","ticker":"UHS","exchange":"NYSE","all_tickers":["UHS"],"title":"UNIVERSAL HEALTH SERVICES, INC. ANNOUNCES FINANCIAL RESULTS FOR THE THREE AND SIX-MONTH PERIODS ENDED JUNE 30, 2026, AND REVISES 2026 FULL YEAR OPERATING RESULTS FORECAST","author":"PR Newswire","published_at":"2026-07-27T20:16:00.321Z","article_body":"UNIVERSAL HEALTH SERVICES, INC. ANNOUNCES FINANCIAL RESULTS FOR THE THREE AND SIX-MONTH PERIODS ENDED JUNE 30, 2026, AND REVISES 2026 FULL YEAR OPERATING RESULTS FORECAST\n\nPR Newswire\n\nKING OF PRUSSIA, Pa., July 27, 2026\n\nConsolidated Results of Operations, As Reported and As Adjusted  –\nThree-month periods ended June 30, 2026 and 2025:\n\nKING OF PRUSSIA, Pa., July 27, 2026 /PRNewswire/ -- Universal Health Services,\nInc. (NYSE: UHS) announced today that its reported net income attributable to\nUHS was $358.4 million, or $5.98 per diluted share, during the second quarter\nof 2026, as compared to $353.2 million, or $5.43 per diluted share, during the\nsecond quarter of 2025.  Net revenues increased by 8.3% to $4.638 billion\nduring the second quarter of 2026, as compared to $4.284 billion during the\nsecond quarter of 2025.\n\nIncluded in our operating results during the second quarter of 2026, was a\nfavorable net pre-tax impact of approximately $72 million recorded in\nconnection with the following: (i) a favorable net pre-tax impact of $100\nmillion (net of related provider taxes) recorded in connection with the\nFlorida Medicaid managed care directed payment program applicable to the\nperiod of October 1, 2024 through September 30, 2025 (pursuant to the Centers\nfor Medicare and Medicaid Services' (\"CMS\") preprint approval granted in\nApril, 2026 which increased the size of the program and changed the related\nprovider tax structure), and; (ii) an unfavorable pre-tax impact of $28\nmillion resulting from an increase to our reserve for self-insured\nprofessional and general liability claims. The impact of these items was not\nincluded in our original 2026 operating results forecast, as previously\ndisclosed on February 25, 2026.\n\nIncluded in our operating results during the second quarter of 2025, were\naggregate net pre-tax incremental reimbursements (net of related provider\ntaxes) of approximately $101 million recorded in connection with the\nfollowing: (i) approximately $58 million, applicable to the period of July 1,\n2024 through June 30, 2025, resulting from the Tennessee Medicaid directed\npayment program, and; (ii) approximately $43 million of other combined\nadditional net reimbursements recorded in connection with supplemental\nMedicaid programs in various states (approximately $21 million of which\nconsisted of prior year retroactive reimbursements). Also included in our\nresults of operations during the second quarter of 2025, was a pre-tax loss of\napproximately $25 million incurred in connection with a newly constructed,\n142-bed acute care hospital located in Washington, D.C., that was completed\nand opened in April, 2025.\n\nAs reflected on the Schedule of Non-GAAP Supplemental Information\n(\"Supplemental Schedule\"), there were no adjustments applicable to our\noperating results during the second quarter of 2026. As reflected on the\nSupplemental Schedule, included in our reported results during the second\nquarter of 2025 were: (i) an unrealized after-tax gain of $4.5 million, or\n$.07 per diluted share ($5.9 million pre-tax), resulting from an increase in\nthe market value of certain equity securities that were sold during the fourth\nquarter of 2025 (included in \"Other (income) expense, net\"), and; (ii) a\nfavorable net after-tax impact of $0.8 million, or $.01 per diluted share,\nresulting from the net tax benefit recorded in connection with \"ASU 2016-09\",\nCompensation – Stock Compensation: Improvements to Employee Share-Based\nPayment Accounting, net of the impact of executive compensation limitations\npursuant to IRC section 162(m). After giving effect to these items, our\nadjusted net income during the second quarter of 2025 was $347.9 million, or\n$5.35 per diluted share.\n\nAs calculated on the attached Supplemental Schedule, our earnings before\ninterest, taxes, depreciation & amortization (\"EBITDA net of NCI\", NCI is\nnet income attributable to noncontrolling interests), was $680.2 million\nduring the second quarter of 2026, as compared to $651.4 million during the\nsecond quarter of 2025. Our adjusted earnings before interest, taxes,\ndepreciation & amortization (\"Adjusted EBITDA net of NCI\"), which excludes\nthe impact of other (income) expense, net, was $677.9 million during the\nsecond quarter of 2026, as compared to $642.9 million during the second\nquarter of 2025.\n\nConsolidated Results of Operations, As Reported and As Adjusted  –\nSix-month periods ended June 30, 2026 and 2025:\n\nReported net income attributable to UHS was $707.1 million, or $11.63 per\ndiluted share, during the first six months of 2026, as compared to $669.9\nmillion, or $10.23 per diluted share, during the comparable period of 2025.\nNet revenues increased by 8.9% to $9.133 billion during the first six months\nof 2026, as compared to $8.384 billion during the comparable period of 2025.\n\nAs reflected on the Supplemental Schedule, our adjusted net income during the\nfirst six months of 2026 was $705.0 million, or $11.60 per diluted share, as\ncompared to $667.4 million, or $10.19 per diluted share, during the comparable\nperiod of 2025.\n\nAs reflected on the Supplemental Schedule, included in our reported results\nduring the first six months of 2026 was a favorable net after-tax impact of\n$2.2 million, or $.03 per diluted share, resulting from the net tax benefit\nrecorded in connection with ASU 2016-09. Included in our reported results\nduring the first six months of 2025 were: (i) an unrealized after-tax gain of\n$1.2 million, or $.02 per diluted share ($1.6 million pre-tax), resulting from\nan increase in the market value of certain equity securities that were sold\nduring the fourth quarter of 2025, and; (ii) a favorable net after-tax impact\nof $1.3 million, or $.02 per diluted share, resulting from the net tax benefit\nrecorded in connection with ASU 2016-09.\n\nAs calculated on the attached Supplemental Schedule, our EBITDA net of NCI,\nwas $1.332 billion during the first six months of 2026, as compared to $1.255\nbillion during the comparable period of 2025. Our Adjusted EBITDA net of NCI\",\nwhich excludes the impact of other (income) expense, net, was $1.326 billion\nduring the first six months of 2026, as compared to $1.241 billion during the\ncomparable period of 2025.\n\nAcute Care Services – Three and six-month periods ended June 30, 2026 and\n2025:\n\nDuring the second quarter of 2026, at our acute care hospitals owned during\nboth periods (\"same facility basis\"), adjusted admissions (adjusted for\noutpatient activity) increased by 2.9% and adjusted patient days increased by\n3.1%, as compared to the second quarter of 2025. At these facilities, during\nthe second quarter of 2026, net revenue per adjusted admission increased by\n3.0% while net revenue per adjusted patient day increased by 2.8%, as compared\nto the second quarter of 2025. Net revenues generated from our acute care\nservices, on a same facility basis, increased by 8.2% during the second\nquarter of 2026, as compared to the second quarter of 2025.\n\nDuring the first six months of 2026, on a same facility basis, adjusted\nadmissions increased by 1.4% and adjusted patient days increased by 1.9%, as\ncompared to the comparable period of 2025. At these facilities, during the\nfirst six months of 2026, net revenue per adjusted admission increased by 4.6%\nwhile net revenue per adjusted patient day increased by 4.2%, as compared to\nthe comparable period of 2025. Net revenues generated from our acute care\nservices, on a same facility basis, increased by 8.2% during the first six\nmonths of 2026, as compared to the comparable period of 2025.\n\nBehavioral Health Care Services – Three and six-month periods ended June 30,\n2026 and 2025:\n\nDuring the second quarter of 2026, at our behavioral health care facilities on\na same facility basis, adjusted admissions increased by 0.5% while adjusted\npatient days increased by 1.4%, as compared to the second quarter of 2025. At\nthese facilities, during the second quarter of 2026, net revenue per adjusted\nadmission increased by 7.1% and net revenue per adjusted patient day increased\nby 6.1%, as compared to the second quarter of 2025. Net revenues generated\nfrom our behavioral health care services, on a same facility basis, increased\nby 7.4% during the second quarter of 2026, as compared to the second quarter\nof 2025.\n\nDuring the first six months of 2026, at our behavioral health care facilities\non a same facility basis, adjusted admissions increased by 0.9% while adjusted\npatient days increased by 1.5%, as compared to the comparable period of 2025.\nAt these facilities, during the first six months of 2026, net revenue per\nadjusted admission increased by 6.6% and net revenue per adjusted patient day\nincreased by 6.0%, as compared to the comparable period of 2025. Net revenues\ngenerated from our behavioral health care services, on a same facility basis,\nincreased by 7.4% during the first six months of 2026, as compared to the\ncomparable period of 2025.\n\nNet Cash Provided by Operating Activities and Credit Agreement\nAmendment/Capital Resources:\n\nNet Cash Provided by Operating Activities:\n\nDuring the six-month period ended June 30, 2026, our net cash provided by\noperating activities was $845 million as compared to $909 million during the\nfirst six months of 2025. The $64 million net decrease in our net cash\nprovided by operating activities consisted of: (i) an unfavorable change of\n$207 million in other working capital accounts due primarily to the timing of\naccounts payable disbursements; (ii) a favorable change of $86 million in\naccrued and deferred income taxes; (iii) a favorable change of $53 million\nresulting from an increase in net income plus/minus depreciation and\namortization expense, stock-based compensation expense and gain on sales of\nassets and businesses; (iv) a favorable change of $47 million in accrued\ninsurance expense, net of payments made in settlement of self-insured claims;\n(v) an unfavorable change of $45 million in accounts receivable, and; (vi)\nother combined net favorable changes of $2 million.\n\nCredit Agreement Amendment/Capital Resources:\n\nAs of June 30, 2026, pursuant to the terms of our $1.5 billion revolving\ncredit facility, we had $1.272 billion of available borrowing capacity, net of\noutstanding borrowings ($225 million) and letters of credit.  Also as of\nJune 30, 2026, as part of our credit agreement, we had $400 million of\nborrowing capacity pursuant to a delayed draw term loan A which is expected to\nbe drawn upon the closing of our acquisition of Talkspace, Inc. (expected to\nbe finalized during the third quarter of 2026). The maturity date for our $1.5\nbillion revolving credit facility and our $400 million delayed draw term loan\nA is September 26, 2029.\n\nIn July, 2026, and as previously disclosed on Form 8-K as filed with the\nSecurities and Exchange Commission on July 21, 2026, we amended our credit\nagreement to add a new $700 million delayed draw term loan A which, if we\nelect to utilize, would be funded on or prior to September 30, 2026, with a\nmaturity date 364 days after the initial funding. Potential future borrowings\npursuant to this facility would be used for general corporate purposes,\nincluding, should we elect, repayment at maturity of our $700 million, 1.650%\nSenior Secured Notes due on September 1, 2026.\n\nStock Repurchase Program:\n\nIn connection with our stock repurchase program, shares of our Class B Common\nStock may be repurchased, from time to time as conditions allow, on the open\nmarket or in negotiated private transactions.\n\nPursuant to this program, during the second quarter of 2026, we have\nrepurchased 1.890 million shares at an aggregate cost of approximately $320.3\nmillion (average price of approximately $169 per share). During the first six\nmonths of 2026, we have repurchased 2.565 million shares at an aggregate cost\nof approximately $447.5 million (average price of approximately $174 per\nshare).\n\nAs of June 30, 2026, we had an aggregate available repurchase authorization of\napproximately $977.6 million pursuant to our stock repurchase program.\n\nRevised 2026 Operating Results Forecast:\n\nBased upon the operating trends, changes in reimbursements related to certain\nMedicaid supplemental payment programs and financial results experienced\nduring the first six months of 2026, as indicated on the Revised Forecast\ntable below, we are revising our operating results forecast range for\nconsolidated net revenues; adjusted earnings before interest, taxes,\ndepreciation & amortization, and the impacts of other income/expense and\nnet income attributable to noncontrolling interests (\"Adjusted EBITDA, net of\nNCI\"), and adjusted net income attributable to UHS per diluted share\n(\"Adjusted EPS-diluted\") for the year ended December 31, 2026.\n\nAs discussed above, our operating results for the three and six-month periods\nended June 30, 2026 included a favorable net pre-tax impact of $100 million\n(net of related provider taxes) recorded in connection with the Florida\nMedicaid managed care directed payment program applicable to the period of\nOctober 1, 2024 through September 30, 2025. Since CMS has not yet approved the\nincreased size of this program for periods beyond September 30, 2025, no\nincremental benefit related to this program has been included in our revised\n2026 operating results forecast beyond amounts included in our operating\nresults during the three and six-month periods ended June 30, 2026.\n\nOur revised 2026 forecasted range of adjusted net income attributable to UHS,\nand adjusted EPS-diluted, exclude certain items as described below because we\ndo not believe we can forecast those items with sufficient accuracy. Adjusted\nEBITDA net of NCI, is a non-GAAP financial measure and should not be\nconsidered a measure of financial performance under GAAP. We believe Adjusted\nEBITDA net of NCI is helpful to our investors as a measure of our operating\nperformance. Please see the Supplemental Non-GAAP Disclosures – Revised 2026\nOperating Results Forecast schedule as included herein for additional\ninformation and a reconciliation of our revised 2026 forecasted range of\nadjusted net income attributable to UHS to our revised 2026 forecasted range\nof Adjusted EBITDA net of NCI.\n\nThe tables below include our full year revised 2026 operating results\nforecast, as well as our original 2026 operating results forecast which was\npreviously disclosed on February 25, 2026.\n                              Revised Forecast                      Original Forecast\n                              For the Year Ended                    For the Year Ended\n                              December 31, 2026                     December 31, 2026\n                              Low               High                Low               High\n Net revenues                 $18.501 billion   $18.762 billion     $18.417 billion   $18.789 billion\n Adjusted EBITDA, net of NCI  $2.610 billion    $2.717 billion      $2.641 billion    $2.789 billion\n Adjusted EPS – diluted       $22.28 per share  $23.65 per share    $22.64 per share  $24.52 per share\n\n * The midpoint of our revised 2026 forecasted net revenues represents an\nincrease of 0.2% as compared to the midpoint of our original 2026 forecasted\nnet revenues.\n * The midpoint of our revised 2026 forecasted Adjusted EBITDA net of NCI,\nrepresents a decrease of 1.9% as compared to the midpoint of our original 2026\nforecasted Adjusted EBITDA net of NCI.\n * The midpoint of our revised 2026 forecasted Adjusted EPS-diluted represents a\ndecrease of 2.6% as compared to our original 2026 Adjusted EPS-diluted.\n * As previously disclosed, during the full year of 2026, we expect to spend\napproximately $950 million to $1.1 billion on capital expenditures which\nincludes expenditures for capital equipment, construction of new facilities,\nand renovations and expansions to our existing hospitals.\nBecause we do not believe we can forecast certain items with sufficient\naccuracy, our revised 2026 forecasted range of Adjusted EBITDA net of NCI, net\nincome attributable to UHS, and Adjusted EPS-diluted, exclude the impact of\nfuture items, if applicable, that are nonrecurring or non-operational in\nnature including items such as changes in the value of certain non-marketable\nsecurities (in connection with our minority ownership in a healthcare\ngenerative artificial intelligence company), the impact of ASU 2016-09, and\nother potential material items that are nonrecurring or non-operational in\nnature including, but not limited to, impairments of goodwill, long-lived and\nintangible assets, reserves for various matters including settlements, legal\njudgments and lawsuits, costs related to extinguishment of debt, gains/losses\non sales of assets and businesses, potential impacts of non-ordinary\nacquisitions, divestitures, joint ventures or other strategic transactions,\nother amounts that may be reflected in the current or prior year financial\nstatements that relate to prior periods, and the impact of share repurchases\nthat differ from our forecasted assumptions. It is also subject to certain\nconditions including those as set forth below in General Information,\nForward-Looking Statements and Risk Factors and Non-GAAP Financial Measures.\n\nConference call information:\n\nWe will hold a conference call for investors and analysts at 9:00 a.m. eastern\ntime on July 28, 2026. A live webcast of the call will be available on our\nwebsite at www.uhs.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4739721-1&h=575833708&u=http%3A%2F%2Fwww.uhs.com%2F&a=www.uhs.com)\n. To participate via telephone, please register in advance at this link\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4739721-1&h=2776853110&u=https%3A%2F%2Fregister-conf.media-server.com%2Fregister%2FBI2c30465e7ef24afab195fcb36fc62a37&a=link)\n. Upon registration, all telephone participants will receive a confirmation\nemail detailing how to join the conference call, including the dial-in number\nalong with a unique passcode and registrant ID that can be used to access the\ncall. Supplemental financial disclosures related to our financial results are\navailable on our website.\n\nGeneral Information, Forward-Looking Statements and Risk Factors and Non-GAAP\nFinancial Measures:\n\nHeadquartered in King of Prussia, PA, UHS is one of the nation's largest and\nmost respected providers of hospital and healthcare services, with annual\nrevenues of approximately $17.4 billion during 2025. Through its subsidiaries,\nUHS employs more than 102,000 employees and, as of June 30, 2026, operated 30\ninpatient acute care facilities, 346 inpatient behavioral health facilities\nand approximately 170 outpatient and other facilities, an insurance offering,\na physician network and various related services located in 40 states,\nWashington, D.C., Puerto Rico and the United Kingdom. Since our founding in\n1979, UHS has grown steadily into a premier Fortune 500® corporation\nperennially recognized by multiple esteemed national rating entities.  Our\nstrategy includes investing in talented staff, facilities, technology and\ninnovation across broad care continuums to deliver favorable patient outcomes\nand contribute to the overall health and wellbeing of the patients we are\nprivileged to serve. A wholly-owned subsidiary of UHS also acts as the advisor\nto Universal Health Realty Income Trust, a real estate investment trust (NYSE:\nUHT). For additional information, please visit www.uhs.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4739721-1&h=3178394596&u=https%3A%2F%2Fnam11.safelinks.protection.outlook.com%2F%3Furl%3Dhttp%253A%252F%252Fwww.uhs.com%252F%26data%3D05%257C02%257CChick.Boyle%2540uhsinc.com%257Cfda0338e5bb24d2d854d08dee2c2872c%257C3d1686d1b444415a93fd1aab58a64f3a%257C1%257C0%257C639197522285479143%257CUnknown%257CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%253D%253D%257C0%257C%257C%257C%26sdata%3D3Q9HWqkTkeRRH0ggzyKnuAqgBKXg0d0q2pygFBKLy9c%253D%26reserved%3D0&a=www.uhs.com)\n.\n\nThis press release contains forward-looking statements based on current\nmanagement expectations.  Numerous factors, including those disclosed herein,\nthose related to healthcare industry trends and those detailed in our filings\nwith the Securities and Exchange Commission (as set forth in Item 2-Forward\nLooking Statements and Risk Factors in our Form 10-Q for the quarter ended\nMarch 31, 2026 and in Item 1A-Risk Factors, and Item 7-Forward-Looking\nStatements and Risk Factors, in our Form 10-K for the year ended December 31,\n2025), may cause the results to differ materially from those anticipated in\nthe forward-looking statements.  These statements are subject to risks and\nuncertainties and therefore actual results may differ materially.  Readers\nshould not place undue reliance on such forward-looking statements which\nreflect management's view only as of the date hereof.  We undertake no\nobligation to revise or update any forward-looking statements, or to make any\nother forward-looking statements, whether as a result of new information,\nfuture events or otherwise.\n\nMany of the factors that could affect our future results are beyond our\ncontrol or ability to predict, including, but not limited to:\n\n * A significant portion of our revenues are derived from federal and state\ngovernment programs including the Medicare and Medicaid programs. Payments\nfrom these programs are subject to statutory and regulatory changes,\nadministrative rulings, interpretations and determinations, requirements for\nutilization review, and federal and state funding restrictions.  Changes to\nthese programs could materially affect program payments which could materially\nimpact our results of operations. In addition, we receive substantial\nreimbursement from multiple states in connection with various supplemental\nMedicaid payment programs. Failure to renew these programs beyond their\nscheduled termination dates, failure of the public hospitals to provide the\nnecessary Inter-Governmental Transfers for the states' share of the Medicaid\ndisproportionate share hospital programs, and the failure of our hospitals\nthat currently receive supplemental Medicaid revenues to qualify for future\nfunds under these programs could cause our actual results of operations for\nthe year ended December 31, 2026 to differ materially from our revised 2026\noperating results forecast.\n * Legislation adopted on July 4, 2025, attaches work and community service\nrequirements to eligibility for Medicaid benefits that will have the effect of\nlimiting Medicaid enrollment and expenditures. That legislation also places\nlimits on provider fees used to increase federal Medicaid funding to states\nand eliminated certain exchange premium tax credits beyond 2025. As these\nprovisions become effective over the next several years, they may be expected\nto reduce our revenues and likely increase the level of uncompensated care\nprovided by our facilities.\n * The increase in interest rates during the past few years has increased our\ninterest expense significantly thereby reducing our free cash flow. As such,\nalthough interest rates have moderated more recently, the effects of increased\nborrowing rates have adversely impacted our results of operations, financial\ncondition and cash flows. We cannot predict future changes to interest rates,\nhowever, significant increases in our borrowing rates could have a material\nunfavorable impact on our future results of operations and our ability to\naccess the capital markets on favorable terms.\n * Changes in laws or policies governing the terms of foreign trade, and in\nparticular, increased trade restrictions, tariffs or taxes on imports from\nwhere our products or materials are made (either directly or through our\nsuppliers) could have an impact on our competitive position, business\noperations and financial results.\n * The outcome of known and unknown litigation, liabilities and other claims\nasserted against us and/or our subsidiaries, including, but not limited to,\nthe matters related to Cumberland Hospital for Children and Adolescents,\nlocated in New Kent, Virginia, which was previously disclosed in various\nfilings including, most recently, our Form 10-Q for the quarterly period ended\nMarch 31, 2026. Although we can make no assurances regarding the ultimate\noutcome of these matters, or what damages will ultimately be awarded, the\nfinal resolution of these matters could have a material adverse effect on the\nCompany.\n * The ability to successfully complete, integrate and realize the benefit and\nsynergies from our proposed acquisition of Talkspace, Inc.\nWe believe that adjusted net income attributable to UHS, adjusted net income\nattributable to UHS per diluted share, EBITDA net of NCI and Adjusted EBITDA\nnet of NCI, which are non-GAAP financial measures (\"GAAP\" is Generally\nAccepted Accounting Principles in the United States of America), are helpful\nto our investors as measures of our operating performance. In addition, we\nbelieve that, when applicable, comparing and discussing our financial results\nbased on these measures, as calculated, is helpful to our investors since it\nneutralizes the effect of material items impacting our net income attributable\nto UHS, such as, changes in the value of certain non-marketable securities (in\nconnection with our minority ownership in a healthcare generative artificial\nintelligence company), the impact of ASU 2016-09, and other potential material\nitems that are nonrecurring or non-operational in nature including, but not\nlimited to, impairments of goodwill, long-lived and intangible assets,\nreserves for various matters including settlements, legal judgments and\nlawsuits, costs related to extinguishment of debt, gains/losses on sales of\nassets and businesses, potential impacts of non-ordinary acquisitions,\ndivestitures, joint ventures or other strategic transactions, and other\namounts that may be reflected in the current or prior year financial\nstatements that relate to prior periods. To obtain a complete understanding of\nour financial performance these measures should be examined in connection with\nnet income attributable to UHS, as determined in accordance with GAAP, and as\npresented in the condensed consolidated financial statements and notes thereto\nin this report or in our filings with the Securities and Exchange Commission\nincluding our Report on Form 10-Q for the quarter ended March 31, 2026 and our\nReport on Form 10-K for the year ended December 31, 2025. Since the items\nincluded or excluded from these measures are significant components in\nunderstanding and assessing financial performance under GAAP, these measures\nshould not be considered to be alternatives to net income as a measure of our\noperating performance or profitability. Since these measures, as presented,\nare not determined in accordance with GAAP and are thus susceptible to varying\ncalculations, they may not be comparable to other similarly titled measures of\nother companies. Investors are encouraged to use GAAP measures when evaluating\nour financial performance.\n\n(more)\n Universal Health Services, Inc.\n Consolidated Statements of Income\n (in thousands, except per share amounts)\n (unaudited)\n\n                                                              Three months                      Six months\n                                                             ended June 30,                   ended June 30,\n                                                     2026               2025          2026               2025\n\n Net revenues                                         $4,638,012         $4,283,816    $9,133,194         $8,383,536\n\n Operating charges:\n    Salaries, wages and benefits                       2,140,309          2,014,951     4,228,538          3,966,055\n    Other operating expenses                           1,351,958          1,162,566     2,635,886          2,268,318\n    Supplies expense                                     423,257            418,785       849,800            821,666\n    Depreciation and amortization                        167,338            152,004       322,764            300,349\n    Lease and rental expense                              38,475             35,240        76,671             72,053\n                                                       4,121,337          3,783,546     8,113,659          7,428,441\n\n Income from operations                                  516,675            500,270     1,019,535            955,095\n\n Interest expense, net                                    39,912             35,364        77,045             75,420\n Other (income) expense, net                             (2,363)            (8,479)       (5,752)           (14,138)\n\n Income before income taxes                              479,126            473,385       948,242            893,813\n\n Provision for income taxes                              114,536            110,773       224,974            209,573\n\n Net income                                              364,590            362,612       723,268            684,240\n\n Less:  Net income (loss) attributable to\n noncontrolling interests (\"NCI\")                          6,143              9,394        16,139             14,342\n\n Net income attributable to UHS                         $358,447           $353,218      $707,129           $669,898\n\n Basic earnings per share attributable to UHS (a)          $6.01              $5.49        $11.71             $10.36\n\n Diluted earnings per share attributable to UHS (a)        $5.98              $5.43        $11.63             $10.23\n\n Universal Health Services, Inc.\n Footnotes to Consolidated Statements of Income\n (in thousands, except per share amounts)\n (unaudited)\n\n                                                                       Three months                  Six months\n (a) Earnings per share calculation:                                  ended June 30,               ended June 30,\n                                                                2026             2025        2026             2025\n Basic and diluted:\n Net income attributable to UHS - basic and diluted             $358,447         $353,218    $707,129         $669,898\n\n Weighted average number of common shares - basic                  59,657           64,356      60,364           64,663\n\n Basic earnings per share attributable to UHS:                      $6.01            $5.49      $11.71           $10.36\n\n Weighted average number of common shares                          59,657           64,356      60,364           64,663\n Add: Other share equivalents                                         253              635         425              851\n Weighted average number of common shares and equiv. - diluted     59,910           64,991      60,789           65,514\n\n Diluted earnings per share attributable to UHS:                    $5.98            $5.43      $11.63           $10.23\n\n Universal Health Services, Inc.\n Schedule of Non-GAAP Supplemental Information (\"Supplemental Schedule\")\n For the Three Months ended June 30, 2026 and 2025\n (in thousands, except per share amounts)\n (unaudited)\n\n Calculation of Earnings/Adjusted Earnings Before Interest, Taxes, Depreciation\n and Amortization\n (\"EBITDA/Adjusted EBITDA net of NCI\")\n\n                                       Three months ended               % Net        Three months ended               % Net\n                                       June 30, 2026                revenues         June 30, 2025                revenues\n\n Net income attributable to UHS                   $358,447                                      $353,218\n    Depreciation and amortization      167,338                                       152,004\n    Interest expense, net              39,912                                        35,364\n    Provision for income taxes         114,536                                       110,773\n EBITDA net of NCI                                $680,233                  14.7 %              $651,359                  15.2 %\n\n Other (income) expense, net           (2,363)                                       (8,479)\n Adjusted EBITDA net of NCI                       $677,870                  14.6 %              $642,880                  15.0 %\n\n Net revenues                                   $4,638,012                                    $4,283,816\n\n Calculation of Adjusted Net Income Attributable to UHS\n\n                                                   Three months ended                            Three months ended\n                                                      June 30, 2026                                 June 30, 2025\n                                                                    Per                                           Per\n                                       Amount                       Diluted Share    Amount                       Diluted Share\n\n Net income attributable to UHS                   $358,447                   $5.98              $353,218                   $5.43\n Plus/minus after-tax adjustments:\n Unrealized gain on equity securities  -                            -                (4,534)                      (0.07)\n Impact of ASU 2016-09, net            -                            -                (796)                        (0.01)\n Subtotal adjustments                  -                            -                (5,330)                      (0.08)\n Adjusted net income                              $358,447                   $5.98              $347,888                   $5.35\n\n Universal Health Services, Inc.\n Schedule of Non-GAAP Supplemental Information (\"Supplemental Schedule\")\n For the Six Months ended June 30, 2026 and 2025\n (in thousands, except per share amounts)\n (unaudited)\n\n Calculation of Earnings/Adjusted Earnings Before Interest, Taxes, Depreciation\n and Amortization\n (\"EBITDA/Adjusted EBITDA net of NCI\")\n\n                                          Six months ended              % Net        Six months ended              % Net\n                                          June 30, 2026             revenues         June 30, 2025             revenues\n\n Net income attributable to UHS                    $707,129                                   $669,898\n    Depreciation and amortization         322,764                                    300,349\n    Interest expense, net                 77,045                                     75,420\n    Provision for income taxes            224,974                                    209,573\n EBITDA net of NCI                               $1,331,912                 14.6 %          $1,255,240                 15.0 %\n\n Other (income) expense, net              (5,752)                                    (14,138)\n Adjusted EBITDA net of NCI                      $1,326,160                 14.5 %          $1,241,102                 14.8 %\n\n Net revenues                                    $9,133,194                                 $8,383,536\n\n Calculation of Adjusted Net Income Attributable to UHS\n\n                                                      Six months ended                           Six months ended\n                                                       June 30, 2026                              June 30, 2025\n                                                                    Per                                        Per\n                                          Amount                    Diluted Share    Amount                    Diluted Share\n\n Net income attributable to UHS                    $707,129                 $11.63            $669,898                 $10.23\n Plus/minus after-tax adjustments:\n Unrealized gain on equity securities     -                         -                (1,249)                   (0.02)\n Impact of ASU 2016-09, net               (2,164)                   (0.03)           (1,257)                   (0.02)\n Subtotal adjustments                     (2,164)                   (0.03)           (2,506)                   (0.04)\n Adjusted net income attributable to UHS           $704,965                 $11.60            $667,392                 $10.19\n\n Universal Health Services, Inc.\n Condensed Consolidated Balance Sheets\n (in thousands)\n (unaudited)\n\n                                                     June 30,          December 31,\n                                                     2026              2025\n Assets\n Current assets:\n     Cash and cash equivalents                    $       138,800   $        137,797\n     Accounts receivable, net                           2,801,108          2,602,434\n     Supplies                                             234,094            232,110\n     Other current assets                                 505,323            435,574\n           Total current assets                         3,679,325          3,407,915\n\n Property and equipment                                13,830,293         13,489,811\n Less: accumulated depreciation                       (6,687,668)        (6,481,714)\n                                                        7,142,625          7,008,097\n\n Other assets:\n     Goodwill                                           3,981,713          3,990,213\n     Deferred income taxes                                 63,719             70,517\n     Right of use assets-operating leases                 365,758            374,239\n     Deferred charges                                       9,908              9,272\n     Other                                                692,438            667,340\n Total Assets                                     $    15,935,486   $     15,527,593\n\n Liabilities and Stockholders' Equity\n Current liabilities:\n     Current maturities of long-term debt         $       771,910   $        748,158\n     Accounts payable and other liabilities             2,451,182          2,416,276\n     Operating lease liabilities                           70,861             73,237\n     Federal and state taxes                                3,703              1,930\n           Total current liabilities                    3,297,656          3,239,601\n\n Other noncurrent liabilities                             559,955            527,827\n Operating lease liabilities noncurrent                   339,467            340,715\n Deferred income taxes                                      3,233              5,649\n Long-term debt                                         4,079,937          4,004,393\n\n Redeemable noncontrolling interest                        73,603             70,620\n\n UHS common stockholders' equity                        7,513,812          7,275,792\n Noncontrolling interest                                   67,823             62,996\n           Total equity                                 7,581,635          7,338,788\n\n Total Liabilities and Stockholders' Equity       $    15,935,486   $     15,527,593\n\n Universal Health Services, Inc.\n Consolidated Statements of Cash Flows\n (in thousands)\n (unaudited)\n                                                                                        Six months\n                                                                                      ended June 30,\n                                                                               2026              2025\n\n Cash Flows from Operating Activities:\n   Net income                                                                    $723,268          $684,240\n   Adjustments to reconcile net income to net\n cash provided by operating activities:\n Depreciation & amortization                                                      322,764           300,349\n Stock-based compensation expense                                                  45,413            45,707\n (Gain) loss on sales of assets and businesses                                    (5,578)             2,833\n   Changes in assets & liabilities, net of effects from\n acquisitions and dispositions:\n    Accounts receivable                                                         (137,907)          (92,636)\n    Accrued interest                                                                 (29)           (4,532)\n    Accrued and deferred income taxes                                              29,759          (55,913)\n    Other working capital accounts                                              (182,146)            25,324\n    Other assets and deferred charges                                            (18,466)          (22,404)\n    Other, net                                                                     10,753            16,143\n    Accrued insurance expense, net of commercial premiums paid                    157,435            94,696\n    Payments made in settlement of self-insurance claims, net of commercial     (100,335)          (84,781)\n insurance reimbursements\n           Net cash provided by operating activities                              844,931           909,026\n\n Cash Flows from Investing Activities:\n    Property and equipment additions                                            (444,790)         (505,040)\n    Proceeds received from sales of assets and businesses                          15,732             2,980\n    Acquisition of businesses and property                                        (4,857)           (8,314)\n    Inflows (outflows) from foreign exchange contracts that hedge our net          12,011          (66,402)\n U.K. investment\n    Costs incurred for purchase and development of enterprise resource            (9,964)                 0\n planning application\n    Decrease (increase) in capital reserves of commercial insurance                    56             (462)\n subsidiary\n           Net cash used in investing activities                                (431,812)         (577,238)\n\n Cash Flows from Financing Activities:\n    Repayments of long-term debt                                                (201,745)          (18,548)\n    Additional borrowings                                                         300,040            94,601\n    Financing costs                                                               (1,410)                 0\n    Repurchase of common shares                                                 (484,601)         (378,542)\n    Dividends paid                                                               (24,760)          (26,434)\n    Issuance of common stock                                                        8,659             8,137\n    Profit distributions to noncontrolling interests                             (11,889)           (9,621)\n    Purchase of ownership interests by minority members, net                        4,324            11,336\n           Net cash used in financing activities                                (411,382)         (319,071)\n\n    Effect of exchange rate changes on cash and cash equivalents                    (676)             3,931\n Increase in cash, cash equivalents and restricted cash                             1,061            16,648\n Cash, cash equivalents and restricted cash, beginning of period                  271,322           224,752\n Cash, cash equivalents and restricted cash, end of period                       $272,383          $241,400\n\n Supplemental Disclosures of Cash Flow Information:\n   Interest paid                                                                  $74,460           $77,448\n\n   Income taxes paid, net of refunds                                             $197,419          $251,786\n\n   Noncash purchases of property and equipment                                    $80,646          $148,887\n\n                                                   Universal Health Services, Inc.\n                                                 Supplemental Statistical Information\n                                                             (unaudited)\n\n                                                                                               % Change                % Change\n                                                                                              3 Months ended          6 Months ended\n Same Facility:                                                                               6/30/2026               6/30/2026\n\n Acute Care Hospitals (1)\n Revenues                                                                                               8.2 %                   8.2 %\n Adjusted Admissions                                                                                    2.9 %                   1.4 %\n Adjusted Patient Days                                                                                  3.1 %                   1.9 %\n Revenue Per Adjusted Admission                                                                         3.0 %                   4.6 %\n Revenue Per Adjusted Patient Day                                                                       2.8 %                   4.2 %\n\n Behavioral Health Hospitals (1)\n Revenues                                                                                               7.4 %                   7.4 %\n Adjusted Admissions                                                                                    0.5 %                   0.9 %\n Adjusted Patient Days                                                                                  1.4 %                   1.5 %\n Revenue Per Adjusted Admission                                                                         7.1 %                   6.6 %\n Revenue Per Adjusted Patient Day                                                                       6.1 %                   6.0 %\n\n UHS Consolidated                                                Second Quarter Ended                    Six Months Ended\n                                                           6/30/2026            6/30/2025     6/30/2026               6/30/2025\n\n Revenues                                                   $4,638,012           $4,283,816        $9,133,194              $8,383,536\n EBITDA net of NCI                                            $680,233             $651,359        $1,331,912              $1,255,240\n EBITDA Margin net of NCI                                       14.7 %               15.2 %            14.6 %                  15.0 %\n Adjusted EBITDA net of NCI                                   $677,870             $642,880        $1,326,160              $1,241,102\n Adjusted EBITDA Margin net of NCI                              14.6 %               15.0 %            14.5 %                  14.8 %\n\n Cash Flow From Operations                                    $443,303             $548,978          $844,931                $909,026\n Capital Expenditures                                         $227,633             $266,014          $444,790                $505,040\n Days Sales Outstanding                                                                       56                      50\n\n Debt                                                                                              $4,851,847              $4,582,897\n UHS' Shareholders Equity                                                                          $7,513,812              $7,030,048\n Debt / Total Capitalization                                                                  39.2 %                  39.5 %\n Debt / EBITDA net of NCI (2)                                                                 1.73                    1.91\n Debt / Adjusted EBITDA net of NCI (2)                                                        1.81                    1.92\n Debt / Cash From Operations (2)                                                              2.70                    2.41\n\n (1) Prior year amounts related to certain facilities previously included in\n our Behavioral Health Care Services' results have been reclassified into our\n Acute Care Hospital Services' results as of January 1, 2025 to conform with\n current year presentation.\n (2) Latest 4 quarters.\n\n Universal Health Services, Inc.\n Acute Care Hospital Services\n For the Three and Six Months ended\n June 30, 2026 and 2025\n (in thousands)\n (unaudited)\n\n Same Facility Basis - Acute Care Hospital Services\n\n                                                       Three months ended                  Three months ended                  Six months ended                   Six months ended\n                                                       June 30, 2026                       June 30, 2025                       June 30, 2026                      June 30, 2025\n                                                       Amount               % of Net       Amount               % of Net       Amount              % of Net       Amount              % of Net\n                                                                            Revenues                            Revenues                           Revenues                           Revenues\n Net revenues                                           $2,507,889          100.0 %         $2,318,826          100.0 %        $4,977,934          100.0 %        $4,600,657          100.0 %\n Operating charges:\n Salaries, wages and benefits                              991,733          39.5 %             938,594          40.5 %         1,944,568           39.1 %         1,852,423           40.3 %\n Other operating expenses                                  779,029          31.1 %             672,172          29.0 %         1,507,181           30.3 %         1,310,771           28.5 %\n Supplies expense                                          362,131          14.4 %             361,093          15.6 %         727,628             14.6 %         709,917             15.4 %\n Depreciation and amortization                             103,112          4.1 %               96,458          4.2 %          198,793             4.0 %          191,359             4.2 %\n Lease and rental expense                                   25,959          1.0 %               24,240          1.0 %          52,697              1.1 %          49,584              1.1 %\n Subtotal-operating expenses                           2,261,964            90.2 %         2,092,557            90.2 %         4,430,867           89.0 %         4,114,054           89.4 %\n Income from operations                                245,925              9.8 %          226,269              9.8 %          547,067             11.0 %         486,603             10.6 %\n Interest expense, net                                 1,301                0.1 %          (1,613)              (0.1) %        2,287               0.0 %          649                 0.0 %\n Other (income) expense, net                               (1,189)          (0.0) %            (1,011)          (0.0) %        (3,744)             (0.1) %            (9,583)         (0.2) %\n Income before income taxes                            $245,813             9.8 %          $228,893             9.9 %          $548,524            11.0 %         $495,537            10.8 %\n\n All Acute Care Hospital Services\n\n                                                       Three months ended                  Three months ended                  Six months ended                   Six months ended\n                                                       June 30, 2026                       June 30, 2025                       June 30, 2026                      June 30, 2025\n                                                       Amount               % of Net       Amount               % of Net       Amount              % of Net       Amount              % of Net\n                                                                            Revenues                            Revenues                           Revenues                           Revenues\n Net revenues                                           $2,609,999          100.0 %         $2,403,837          100.0 %         $5,220,135         100.0 %        $4,761,651          100.0 %\n Operating charges:\n Salaries, wages and benefits                              999,864          38.3 %             938,708          39.1 %         1,972,710           37.8 %         1,854,232           38.9 %\n Other operating expenses                                  885,882          33.9 %             757,549          31.5 %         1,745,729           33.4 %         1,474,211           31.0 %\n Supplies expense                                          363,494          13.9 %             361,097          15.0 %         731,432             14.0 %         709,789             14.9 %\n Depreciation and amortization                             106,623          4.1 %               96,459          4.0 %          202,941             3.9 %          191,362             4.0 %\n Lease and rental expense                                   26,170          1.0 %               24,240          1.0 %          52,742              1.0 %          49,584              1.0 %\n Subtotal-operating expenses                           2,382,033            91.3 %         2,178,053            90.6 %         4,705,554           90.1 %         4,279,178           89.9 %\n Income from operations                                227,966              8.7 %          225,784              9.4 %          514,581             9.9 %          482,473             10.1 %\n Interest expense, net                                 1,301                0.0 %          (1,613)              (0.1) %        2,287               0.0 %          649                 0.0 %\n Other (income) expense, net                           (985)                (0.0) %        (916)                (0.0) %        (3,117)             (0.1) %        (9,183)             (0.2) %\n Income before income taxes                            $227,650             8.7 %          $228,313             9.5 %          $515,411            9.9 %          $491,007            10.3 %\n\n We believe that providing our results on a \"Same Facility\" basis (which is a\n non-GAAP measure), which includes the operating results for facilities and\n businesses operated in both the current year and prior year periods, is\n helpful to our investors as a measure of our operating performance. Our Same\n Facility results also neutralize (if applicable), the effect of material items\n that are nonrecurring or non-operational in nature including items such as,\n but not limited to, reserves for various matters, settlements, legal judgments\n and lawsuits, cost related to extinguishment of debt, gains/losses on sales of\n assets and businesses, impairments of goodwill, long-lived and intangible\n assets and other amounts that may be reflected in the current or prior year\n financial statements that relate to prior periods. Our Same Facility basis\n results exclude from net revenues and other operating expenses, provider tax\n assessments incurred in each period. However, these provider tax assessments\n are included in net revenues and other operating expenses as reflected in the\n table under All Acute Care Hospital Services. The provider tax assessments had\n no impact on the income before income taxes as reflected on the above tables\n since the amounts offset between net revenues and other operating expenses. To\n obtain a complete understanding of our financial performance, the Same\n Facility results should be examined in connection with our net income as\n determined in accordance with GAAP and as presented herein and the condensed\n consolidated financial statements and notes thereto as contained in our Form\n 10-K for the year ended December 31, 2025 and our Form 10-Q for the quarter\n ended March 31, 2026.\n\n Prior year amounts related to certain facilities previously included in our\n Behavioral Health Care Services' results have been reclassified into our Acute\n Care Hospital Services' results as of January 1, 2025 to conform with current\n year presentation.\n\n The All Acute Care Hospital Services table summarizes the results of\n operations for all our acute care operations during the periods presented.\n These amounts include: (i) our acute care results on a same facility basis,\n as indicated above; (ii) the impact of provider tax assessments which\n increased net revenues and other operating expenses but had no impact on\n income before income taxes, and; (iii) certain other amounts including the\n results of facilities acquired or opened during the last twelve months.\n\n Universal Health Services, Inc.\n Behavioral Health Care Services\n For the Three and Six Months ended\n June 30, 2026 and 2025\n (in thousands)\n (unaudited)\n\n Same Facility Basis - Behavioral Health Care Services\n\n                                                                   Three months ended                  Three months ended                  Six months ended                   Six months ended\n                                                                   June 30, 2026                       June 30, 2025                       June 30, 2026                      June 30, 2025\n                                                                   Amount               % of Net       Amount               % of Net       Amount              % of Net       Amount              % of Net\n                                                                                        Revenues                            Revenues                           Revenues                           Revenues\n Net revenues                                                       $1,929,171          100.0 %         $1,796,295          100.0 %        $3,747,847          100.0 %        $3,490,455          100.0 %\n Operating charges:\n Salaries, wages and benefits                                      1,019,296            52.8 %         959,030              53.4 %         2,012,334           53.7 %         1,878,820           53.8 %\n Other operating expenses                                          355,579              18.4 %         325,595              18.1 %         690,002             18.4 %         645,195             18.5 %\n Supplies expense                                                  57,889               3.0 %          56,957               3.2 %          116,345             3.1 %          111,952             3.2 %\n Depreciation and amortization                                     56,764               2.9 %          51,873               2.9 %          111,920             3.0 %          102,752             2.9 %\n Lease and rental expense                                          12,054               0.6 %          10,412               0.6 %          23,359              0.6 %          21,290              0.6 %\n Subtotal-operating expenses                                       1,501,582            77.8 %         1,403,867            78.2 %         2,953,960           78.8 %         2,760,009           79.1 %\n Income from operations                                            427,589              22.2 %         392,428              21.8 %         793,887             21.2 %         730,446             20.9 %\n Interest expense, net                                             1,168                0.1 %          1,104                0.1 %          2,360               0.1 %          2,179               0.1 %\n Other (income) expense, net                                       (983)                (0.1) %        (837)                (0.0) %        (1,866)             (0.0) %        (1,662)             (0.0) %\n Income before income taxes                                        $427,404             22.2 %         $392,161             21.8 %         $793,393            21.2 %         $729,929            20.9 %\n\n All Behavioral Health Care Services\n\n                                                                   Three months ended                  Three months ended                  Six months ended                   Six months ended\n                                                                   June 30, 2026                       June 30, 2025                       June 30, 2026                      June 30, 2025\n                                                                   Amount               % of Net       Amount               % of Net       Amount              % of Net       Amount              % of Net\n                                                                                        Revenues                            Revenues                           Revenues                           Revenues\n Net revenues                                                       $2,025,065          100.0 %         $1,877,273          100.0 %        $3,907,217          100.0 %        $3,616,337          100.0 %\n Operating charges:\n Salaries, wages and benefits                                      1,040,604            51.4 %         975,553              52.0 %         2,041,698           52.3 %         1,898,919           52.5 %\n Other operating expenses                                          443,752              21.9 %         383,412              20.4 %         835,650             21.4 %         745,674             20.6 %\n Supplies expense                                                  58,475               2.9 %          58,289               3.1 %          117,262             3.0 %          113,437             3.1 %\n Depreciation and amortization                                     58,895               2.9 %          53,170               2.8 %          115,529             3.0 %          104,322             2.9 %\n Lease and rental expense                                          12,212               0.6 %          10,963               0.6 %          23,727              0.6 %          22,327              0.6 %\n Subtotal-operating expenses                                       1,613,938            79.7 %         1,481,387            78.9 %         3,133,866           80.2 %         2,884,679           79.8 %\n Income from operations                                            411,127              20.3 %         395,886              21.1 %         773,351             19.8 %         731,658             20.2 %\n Interest expense, net                                             1,273                0.1 %          1,104                0.1 %          2,545               0.1 %          2,179               0.1 %\n Other (income) expense, net                                       (983)                (0.0) %        (837)                (0.0) %        (1,866)             (0.0) %        (1,662)             (0.0) %\n Income before income taxes                                        $410,837             20.3 %         $395,619             21.1 %         $772,672            19.8 %         $731,141            20.2 %\n\n We believe that providing our results on a \"Same Facility\" basis (which is a\n non-GAAP measure), which includes the operating results for facilities and\n businesses operated in both the current year and prior year periods, is\n helpful to our investors as a measure of our operating performance. Our Same\n Facility results also neutralize (if applicable), the effect of material items\n that are nonrecurring or non-operational in nature including items such as,\n but not limited to, reserves for various matters, settlements, legal judgments\n and lawsuits, cost related to extinguishment of debt, gains/losses on sales of\n assets and businesses, impairments of goodwill, long-lived and intangible\n assets and other amounts that may be reflected in the current or prior year\n financial statements that relate to prior periods. Our Same Facility basis\n results exclude from net revenues and other operating expenses, provider tax\n assessments incurred in each period. However, these provider tax assessments\n are included in net revenues and other operating expenses as reflected in the\n table under All Behavioral Health Care Services. The provider tax assessments\n had no impact on the income before income taxes as reflected on the above\n tables since the amounts offset between net revenues and other operating\n expenses. To obtain a complete understanding of our financial performance, the\n Same Facility results should be examined in connection with our net income as\n determined in accordance with GAAP and as presented herein and the condensed\n consolidated financial statements and notes thereto as contained in our Form\n 10-K for the year ended December 31, 2025 and our Form 10-Q for the quarter\n ended March 31, 2026.\n\n Prior year amounts related to certain facilities previously included in our\n Behavioral Health Care Services' results have been reclassified into our Acute\n Care Hospital Services' results as of January 1, 2025 to conform with current\n year presentation.\n\n The All Behavioral Health Care Services table summarizes the results of\n operations for all our behavioral health care facilities during the periods\n presented. These amounts include: (i) our behavioral health results on a same\n facility basis, as indicated above; (ii) the impact of provider tax\n assessments which increased net revenues and other operating expenses but had\n no impact on income before income taxes, and; (iii) certain other amounts\n including the results of facilities acquired or opened during the last twelve\n months.\n\n Universal Health Services, Inc.\n Selected Hospital Statistics\n For the Three Months ended\n June 30, 2026 and 2025\n (unaudited)\n\n AS REPORTED:\n\n                                                   ACUTE                                      BEHAVIORAL HEALTH\n                               6/30/26          6/30/25          %  change     6/30/26           6/30/25           %  change\n\n Hospitals owned and leased              30               28     7.1 %                 346               338       2.4 %\n Average licensed beds                7,434            7,159     3.8 %              24,587            24,254       1.4 %\n Average available beds               7,262            6,987     3.9 %              24,487            24,154       1.4 %\n Patient days                       420,001          412,885     1.7 %           1,631,375         1,620,819       0.7 %\n Average daily census               4,615.4          4,537.2     1.7 %            17,927.2          17,811.2       0.7 %\n Occupancy-licensed beds             62.1 %           63.4 %     -2.0 %             72.9 %            73.4 %       -0.7 %\n Occupancy-available beds            63.6 %           64.9 %     -2.1 %             73.2 %            73.7 %       -0.7 %\n Admissions                          88,649           87,278     1.6 %             116,857           118,519       -1.4 %\n Length of stay                         4.7              4.7     0.2 %                14.0              13.7       2.1 %\n\n Inpatient revenue              $15,586,752      $13,886,867     12.2 %         $3,302,515        $2,993,234       10.3 %\n Outpatient revenue              11,194,461        9,638,566     16.1 %            326,489           294,989       10.7 %\n Total patient revenue           26,781,213       23,525,433     13.8 %          3,629,004         3,288,223       10.4 %\n Other revenue                      353,881          285,690     23.9 %             96,736            93,542       3.4 %\n Gross revenue                   27,135,094       23,811,123     14.0 %          3,725,740         3,381,765       10.2 %\n Total deductions                24,525,095       21,407,286     14.6 %          1,700,675         1,504,492       13.0 %\n Net revenue                     $2,609,999       $2,403,837     8.6 %          $2,025,065        $1,877,273       7.9 %\n\n SAME FACILITY:\n\n                                                   ACUTE                                      BEHAVIORAL HEALTH\n                               6/30/26          6/30/25          %  change     6/30/26           6/30/25           %  change\n\n Hospitals owned and leased              29               29     0.0 %                 334               334       0.0 %\n Average licensed beds                7,330            7,159     2.4 %              23,703            23,652       0.2 %\n Average available beds               7,158            6,987     2.4 %              23,603            23,552       0.2 %\n Patient days                       419,710          412,885     1.7 %           1,597,105         1,576,830       1.3 %\n Average daily census               4,612.2          4,537.2     1.7 %            17,550.6          17,327.8       1.3 %\n Occupancy-licensed beds             62.9 %           63.4 %     -0.7 %             74.0 %            73.3 %       1.1 %\n Occupancy-available beds            64.4 %           64.9 %     -0.8 %             74.4 %            73.6 %       1.1 %\n Admissions                          88,562           87,278     1.5 %             114,911           114,433       0.4 %\n Length of stay                         4.7              4.7     0.2 %                13.9              13.8       0.9 %\n\n Prior year amounts related to certain facilities previously included in our\n Behavioral Health Care Services' results have been reclassified into our Acute\n Care Hospital Services' results as of January 1, 2025 to conform with current\n year presentation.\n\n Universal Health Services, Inc.\n Selected Hospital Statistics\n For the Six Months ended\n June 30, 2026 and 2025\n (unaudited)\n\n AS REPORTED:\n\n                                                   ACUTE                                      BEHAVIORAL HEALTH\n                               6/30/26          6/30/25          %  change     6/30/26           6/30/25           %  change\n\n Hospitals owned and leased              30               28     7.1 %                 346               338       2.4 %\n Average licensed beds                7,300            7,076     3.2 %              24,579            24,170       1.7 %\n Average available beds               7,128            6,904     3.2 %              24,479            24,070       1.7 %\n Patient days                       851,080          841,922     1.1 %           3,250,959         3,209,365       1.3 %\n Average daily census               4,702.1          4,651.5     1.1 %            17,961.1          17,731.3       1.3 %\n Occupancy-licensed beds             64.4 %           65.7 %     -2.0 %             73.1 %            73.4 %       -0.4 %\n Occupancy-available beds            66.0 %           67.4 %     -2.1 %             73.4 %            73.7 %       -0.4 %\n Admissions                         176,538          175,368     0.7 %             234,348           234,869       -0.2 %\n Length of stay                         4.8              4.8     0.4 %                13.9              13.7       1.5 %\n\n Inpatient revenue              $31,549,934      $28,205,158     11.9 %         $6,568,817        $5,838,122       12.5 %\n Outpatient revenue              22,007,439       18,966,362     16.0 %            638,981           569,023       12.3 %\n Total patient revenue           53,557,373       47,171,520     13.5 %          7,207,798         6,407,145       12.5 %\n Other revenue                      691,138          566,133     22.1 %            192,211           181,921       5.7 %\n Gross revenue                   54,248,511       47,737,653     13.6 %          7,400,009         6,589,066       12.3 %\n Total deductions                49,028,376       42,976,002     14.1 %          3,492,792         2,972,729       17.5 %\n Net revenue                     $5,220,135       $4,761,651     9.6 %          $3,907,217        $3,616,337       8.0 %\n\n SAME FACILITY:\n\n                                                   ACUTE                                      BEHAVIORAL HEALTH\n                               6/30/26          6/30/25          %  change     6/30/26           6/30/25           %  change\n\n Hospitals owned and leased              29               29     0.0 %                 334               334       0.0 %\n Average licensed beds                7,177            7,076     1.4 %              23,860            23,754       0.4 %\n Average available beds               7,005            6,904     1.5 %              23,760            23,654       0.4 %\n Patient days                       845,542          841,922     0.4 %           3,190,451         3,147,427       1.4 %\n Average daily census               4,671.5          4,651.5     0.4 %            17,626.8          17,389.1       1.4 %\n Occupancy-licensed beds             65.1 %           65.7 %     -1.0 %             73.9 %            73.2 %       0.9 %\n Occupancy-available beds            66.7 %           67.4 %     -1.0 %             74.2 %            73.5 %       0.9 %\n Admissions                         175,342          175,368     0.0 %             231,179           229,482       0.7 %\n Length of stay                         4.8              4.8     0.4 %                13.8              13.7       0.6 %\n\n Prior year amounts related to certain facilities previously included in our\n Behavioral Health Care Services' results have been reclassified into our Acute\n Care Hospital Services' results as of January 1, 2025 to conform with current\n year presentation.\n\n Universal Health Services, Inc.\n Supplemental Non-GAAP Disclosures\n Revised 2026 Operating Results Forecast\n (in thousands, except per share amounts)\n\n                                                                                               Revised Forecast For The Year Ending December 31, 2026\n                                                                                                              % Net                                      % Net\n                                                                                     Low                    revenues            High                   revenues\n Net revenues                                                                         $18,501,000                                $18,762,000\n\n Adjusted net income attributable to UHS (a)                                           $1,322,985                                 $1,404,050\n\n  Depreciation and amortization                                                           669,318                                    669,318\n  Interest expense                                                                        204,898                                    204,898\n  Other (income) expense, net                                                             (9,924)                                    (9,924)\n  Provision for income taxes                                                              422,378                                    448,259\n Adjusted EBITDA net of NCI (b)                                                        $2,609,655              14.1 %             $2,716,601              14.5 %\n\n Adjusted net income attributable to UHS, per diluted share (a)                            $22.28                                     $23.65\n\n Shares used in computing diluted earnings per share                                       59,369                                     59,369\n\n (a) Adjusted net income attributable to UHS/per diluted share exclude the\n following items because we do not believe we can forecast these items with\n sufficient accuracy. Such items include: the impact of future items, if\n applicable, that are nonrecurring or non-operational in nature including items\n such as pre-tax unrealized gains/losses resulting from changes in the value of\n certain non-marketable securities, the impact of ASU 2016-09, and other\n potential material items including, but not limited to, impairments of\n goodwill, long-lived and intangible assets, reserves for various matters\n including settlements, legal judgments and lawsuits, costs related to\n extinguishment of debt, gains/losses on sales of assets and businesses,\n potential impacts of non-ordinary acquisitions, divestitures, joint ventures\n or other strategic transactions, other amounts that may be reflected in the\n current or prior year financial statements that relate to prior periods, and\n the impact of share repurchases that differ from our forecasted assumptions.\n Adjusted net income attributable to UHS/per diluted share is also subject to\n certain conditions including those as set forth in General Information,\n Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures.\n\n (b) Adjusted EBITDA net of NCI is a non-GAAP financial measure and should not\n be considered a measure of financial performance under GAAP.  We believe\n Adjusted EBITDA net of NCI is helpful to our investors as a measure of\n operating performance.\n\n \n\nView original\ncontent:https://www.prnewswire.com/news-releases/universal-health-services-inc-announces-financial-results-for-the-three-and-six-month-periods-ended-june-30-2026-and-revises-2026-full-year-operating-results-forecast-302835623.html\n(https://www.prnewswire.com/news-releases/universal-health-services-inc-announces-financial-results-for-the-three-and-six-month-periods-ended-june-30-2026-and-revises-2026-full-year-operating-results-forecast-302835623.html)\n\nSOURCE Universal Health Services, Inc.\n\n\n\nDarren Lehrich, Vice President-Investor Relations, 610-382-3310, Darren.Lehrich@uhsinc.com\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn5TDzZpa","title":"UNIVERSAL HEALTH SERVICES, INC. ANNOUNCES FINANCIAL RESULTS FOR THE THREE AND SIX-MONTH PERIODS ENDED JUNE 30, 2026, AND REVISES 2026 FULL YEAR OPERATING RESULTS FORECAST","author":"PR Newswire","ticker":"UHS","created":"2026-07-27T20:16:00.321Z","tickers":["UHS"],"exchange":"NYSE","article_body":"UNIVERSAL HEALTH SERVICES, INC. ANNOUNCES FINANCIAL RESULTS FOR THE THREE AND SIX-MONTH PERIODS ENDED JUNE 30, 2026, AND REVISES 2026 FULL YEAR OPERATING RESULTS FORECAST\n\nPR Newswire\n\nKING OF PRUSSIA, Pa., July 27, 2026\n\nConsolidated Results of Operations, As Reported and As Adjusted  –\nThree-month periods ended June 30, 2026 and 2025:\n\nKING OF PRUSSIA, Pa., July 27, 2026 /PRNewswire/ -- Universal Health Services,\nInc. (NYSE: UHS) announced today that its reported net income attributable to\nUHS was $358.4 million, or $5.98 per diluted share, during the second quarter\nof 2026, as compared to $353.2 million, or $5.43 per diluted share, during the\nsecond quarter of 2025.  Net revenues increased by 8.3% to $4.638 billion\nduring the second quarter of 2026, as compared to $4.284 billion during the\nsecond quarter of 2025.\n\nIncluded in our operating results during the second quarter of 2026, was a\nfavorable net pre-tax impact of approximately $72 million recorded in\nconnection with the following: (i) a favorable net pre-tax impact of $100\nmillion (net of related provider taxes) recorded in connection with the\nFlorida Medicaid managed care directed payment program applicable to the\nperiod of October 1, 2024 through September 30, 2025 (pursuant to the Centers\nfor Medicare and Medicaid Services' (\"CMS\") preprint approval granted in\nApril, 2026 which increased the size of the program and changed the related\nprovider tax structure), and; (ii) an unfavorable pre-tax impact of $28\nmillion resulting from an increase to our reserve for self-insured\nprofessional and general liability claims. The impact of these items was not\nincluded in our original 2026 operating results forecast, as previously\ndisclosed on February 25, 2026.\n\nIncluded in our operating results during the second quarter of 2025, were\naggregate net pre-tax incremental reimbursements (net of related provider\ntaxes) of approximately $101 million recorded in connection with the\nfollowing: (i) approximately $58 million, applicable to the period of July 1,\n2024 through June 30, 2025, resulting from the Tennessee Medicaid directed\npayment program, and; (ii) approximately $43 million of other combined\nadditional net reimbursements recorded in connection with supplemental\nMedicaid programs in various states (approximately $21 million of which\nconsisted of prior year retroactive reimbursements). Also included in our\nresults of operations during the second quarter of 2025, was a pre-tax loss of\napproximately $25 million incurred in connection with a newly constructed,\n142-bed acute care hospital located in Washington, D.C., that was completed\nand opened in April, 2025.\n\nAs reflected on the Schedule of Non-GAAP Supplemental Information\n(\"Supplemental Schedule\"), there were no adjustments applicable to our\noperating results during the second quarter of 2026. As reflected on the\nSupplemental Schedule, included in our reported results during the second\nquarter of 2025 were: (i) an unrealized after-tax gain of $4.5 million, or\n$.07 per diluted share ($5.9 million pre-tax), resulting from an increase in\nthe market value of certain equity securities that were sold during the fourth\nquarter of 2025 (included in \"Other (income) expense, net\"), and; (ii) a\nfavorable net after-tax impact of $0.8 million, or $.01 per diluted share,\nresulting from the net tax benefit recorded in connection with \"ASU 2016-09\",\nCompensation – Stock Compensation: Improvements to Employee Share-Based\nPayment Accounting, net of the impact of executive compensation limitations\npursuant to IRC section 162(m). After giving effect to these items, our\nadjusted net income during the second quarter of 2025 was $347.9 million, or\n$5.35 per diluted share.\n\nAs calculated on the attached Supplemental Schedule, our earnings before\ninterest, taxes, depreciation & amortization (\"EBITDA net of NCI\", NCI is\nnet income attributable to noncontrolling interests), was $680.2 million\nduring the second quarter of 2026, as compared to $651.4 million during the\nsecond quarter of 2025. Our adjusted earnings before interest, taxes,\ndepreciation & amortization (\"Adjusted EBITDA net of NCI\"), which excludes\nthe impact of other (income) expense, net, was $677.9 million during the\nsecond quarter of 2026, as compared to $642.9 million during the second\nquarter of 2025.\n\nConsolidated Results of Operations, As Reported and As Adjusted  –\nSix-month periods ended June 30, 2026 and 2025:\n\nReported net income attributable to UHS was $707.1 million, or $11.63 per\ndiluted share, during the first six months of 2026, as compared to $669.9\nmillion, or $10.23 per diluted share, during the comparable period of 2025.\nNet revenues increased by 8.9% to $9.133 billion during the first six months\nof 2026, as compared to $8.384 billion during the comparable period of 2025.\n\nAs reflected on the Supplemental Schedule, our adjusted net income during the\nfirst six months of 2026 was $705.0 million, or $11.60 per diluted share, as\ncompared to $667.4 million, or $10.19 per diluted share, during the comparable\nperiod of 2025.\n\nAs reflected on the Supplemental Schedule, included in our reported results\nduring the first six months of 2026 was a favorable net after-tax impact of\n$2.2 million, or $.03 per diluted share, resulting from the net tax benefit\nrecorded in connection with ASU 2016-09. Included in our reported results\nduring the first six months of 2025 were: (i) an unrealized after-tax gain of\n$1.2 million, or $.02 per diluted share ($1.6 million pre-tax), resulting from\nan increase in the market value of certain equity securities that were sold\nduring the fourth quarter of 2025, and; (ii) a favorable net after-tax impact\nof $1.3 million, or $.02 per diluted share, resulting from the net tax benefit\nrecorded in connection with ASU 2016-09.\n\nAs calculated on the attached Supplemental Schedule, our EBITDA net of NCI,\nwas $1.332 billion during the first six months of 2026, as compared to $1.255\nbillion during the comparable period of 2025. Our Adjusted EBITDA net of NCI\",\nwhich excludes the impact of other (income) expense, net, was $1.326 billion\nduring the first six months of 2026, as compared to $1.241 billion during the\ncomparable period of 2025.\n\nAcute Care Services – Three and six-month periods ended June 30, 2026 and\n2025:\n\nDuring the second quarter of 2026, at our acute care hospitals owned during\nboth periods (\"same facility basis\"), adjusted admissions (adjusted for\noutpatient activity) increased by 2.9% and adjusted patient days increased by\n3.1%, as compared to the second quarter of 2025. At these facilities, during\nthe second quarter of 2026, net revenue per adjusted admission increased by\n3.0% while net revenue per adjusted patient day increased by 2.8%, as compared\nto the second quarter of 2025. Net revenues generated from our acute care\nservices, on a same facility basis, increased by 8.2% during the second\nquarter of 2026, as compared to the second quarter of 2025.\n\nDuring the first six months of 2026, on a same facility basis, adjusted\nadmissions increased by 1.4% and adjusted patient days increased by 1.9%, as\ncompared to the comparable period of 2025. At these facilities, during the\nfirst six months of 2026, net revenue per adjusted admission increased by 4.6%\nwhile net revenue per adjusted patient day increased by 4.2%, as compared to\nthe comparable period of 2025. Net revenues generated from our acute care\nservices, on a same facility basis, increased by 8.2% during the first six\nmonths of 2026, as compared to the comparable period of 2025.\n\nBehavioral Health Care Services – Three and six-month periods ended June 30,\n2026 and 2025:\n\nDuring the second quarter of 2026, at our behavioral health care facilities on\na same facility basis, adjusted admissions increased by 0.5% while adjusted\npatient days increased by 1.4%, as compared to the second quarter of 2025. At\nthese facilities, during the second quarter of 2026, net revenue per adjusted\nadmission increased by 7.1% and net revenue per adjusted patient day increased\nby 6.1%, as compared to the second quarter of 2025. Net revenues generated\nfrom our behavioral health care services, on a same facility basis, increased\nby 7.4% during the second quarter of 2026, as compared to the second quarter\nof 2025.\n\nDuring the first six months of 2026, at our behavioral health care facilities\non a same facility basis, adjusted admissions increased by 0.9% while adjusted\npatient days increased by 1.5%, as compared to the comparable period of 2025.\nAt these facilities, during the first six months of 2026, net revenue per\nadjusted admission increased by 6.6% and net revenue per adjusted patient day\nincreased by 6.0%, as compared to the comparable period of 2025. Net revenues\ngenerated from our behavioral health care services, on a same facility basis,\nincreased by 7.4% during the first six months of 2026, as compared to the\ncomparable period of 2025.\n\nNet Cash Provided by Operating Activities and Credit Agreement\nAmendment/Capital Resources:\n\nNet Cash Provided by Operating Activities:\n\nDuring the six-month period ended June 30, 2026, our net cash provided by\noperating activities was $845 million as compared to $909 million during the\nfirst six months of 2025. The $64 million net decrease in our net cash\nprovided by operating activities consisted of: (i) an unfavorable change of\n$207 million in other working capital accounts due primarily to the timing of\naccounts payable disbursements; (ii) a favorable change of $86 million in\naccrued and deferred income taxes; (iii) a favorable change of $53 million\nresulting from an increase in net income plus/minus depreciation and\namortization expense, stock-based compensation expense and gain on sales of\nassets and businesses; (iv) a favorable change of $47 million in accrued\ninsurance expense, net of payments made in settlement of self-insured claims;\n(v) an unfavorable change of $45 million in accounts receivable, and; (vi)\nother combined net favorable changes of $2 million.\n\nCredit Agreement Amendment/Capital Resources:\n\nAs of June 30, 2026, pursuant to the terms of our $1.5 billion revolving\ncredit facility, we had $1.272 billion of available borrowing capacity, net of\noutstanding borrowings ($225 million) and letters of credit.  Also as of\nJune 30, 2026, as part of our credit agreement, we had $400 million of\nborrowing capacity pursuant to a delayed draw term loan A which is expected to\nbe drawn upon the closing of our acquisition of Talkspace, Inc. (expected to\nbe finalized during the third quarter of 2026). The maturity date for our $1.5\nbillion revolving credit facility and our $400 million delayed draw term loan\nA is September 26, 2029.\n\nIn July, 2026, and as previously disclosed on Form 8-K as filed with the\nSecurities and Exchange Commission on July 21, 2026, we amended our credit\nagreement to add a new $700 million delayed draw term loan A which, if we\nelect to utilize, would be funded on or prior to September 30, 2026, with a\nmaturity date 364 days after the initial funding. Potential future borrowings\npursuant to this facility would be used for general corporate purposes,\nincluding, should we elect, repayment at maturity of our $700 million, 1.650%\nSenior Secured Notes due on September 1, 2026.\n\nStock Repurchase Program:\n\nIn connection with our stock repurchase program, shares of our Class B Common\nStock may be repurchased, from time to time as conditions allow, on the open\nmarket or in negotiated private transactions.\n\nPursuant to this program, during the second quarter of 2026, we have\nrepurchased 1.890 million shares at an aggregate cost of approximately $320.3\nmillion (average price of approximately $169 per share). During the first six\nmonths of 2026, we have repurchased 2.565 million shares at an aggregate cost\nof approximately $447.5 million (average price of approximately $174 per\nshare).\n\nAs of June 30, 2026, we had an aggregate available repurchase authorization of\napproximately $977.6 million pursuant to our stock repurchase program.\n\nRevised 2026 Operating Results Forecast:\n\nBased upon the operating trends, changes in reimbursements related to certain\nMedicaid supplemental payment programs and financial results experienced\nduring the first six months of 2026, as indicated on the Revised Forecast\ntable below, we are revising our operating results forecast range for\nconsolidated net revenues; adjusted earnings before interest, taxes,\ndepreciation & amortization, and the impacts of other income/expense and\nnet income attributable to noncontrolling interests (\"Adjusted EBITDA, net of\nNCI\"), and adjusted net income attributable to UHS per diluted share\n(\"Adjusted EPS-diluted\") for the year ended December 31, 2026.\n\nAs discussed above, our operating results for the three and six-month periods\nended June 30, 2026 included a favorable net pre-tax impact of $100 million\n(net of related provider taxes) recorded in connection with the Florida\nMedicaid managed care directed payment program applicable to the period of\nOctober 1, 2024 through September 30, 2025. Since CMS has not yet approved the\nincreased size of this program for periods beyond September 30, 2025, no\nincremental benefit related to this program has been included in our revised\n2026 operating results forecast beyond amounts included in our operating\nresults during the three and six-month periods ended June 30, 2026.\n\nOur revised 2026 forecasted range of adjusted net income attributable to UHS,\nand adjusted EPS-diluted, exclude certain items as described below because we\ndo not believe we can forecast those items with sufficient accuracy. Adjusted\nEBITDA net of NCI, is a non-GAAP financial measure and should not be\nconsidered a measure of financial performance under GAAP. We believe Adjusted\nEBITDA net of NCI is helpful to our investors as a measure of our operating\nperformance. Please see the Supplemental Non-GAAP Disclosures – Revised 2026\nOperating Results Forecast schedule as included herein for additional\ninformation and a reconciliation of our revised 2026 forecasted range of\nadjusted net income attributable to UHS to our revised 2026 forecasted range\nof Adjusted EBITDA net of NCI.\n\nThe tables below include our full year revised 2026 operating results\nforecast, as well as our original 2026 operating results forecast which was\npreviously disclosed on February 25, 2026.\n                              Revised Forecast                      Original Forecast\n                              For the Year Ended                    For the Year Ended\n                              December 31, 2026                     December 31, 2026\n                              Low               High                Low               High\n Net revenues                 $18.501 billion   $18.762 billion     $18.417 billion   $18.789 billion\n Adjusted EBITDA, net of NCI  $2.610 billion    $2.717 billion      $2.641 billion    $2.789 billion\n Adjusted EPS – diluted       $22.28 per share  $23.65 per share    $22.64 per share  $24.52 per share\n\n * The midpoint of our revised 2026 forecasted net revenues represents an\nincrease of 0.2% as compared to the midpoint of our original 2026 forecasted\nnet revenues.\n * The midpoint of our revised 2026 forecasted Adjusted EBITDA net of NCI,\nrepresents a decrease of 1.9% as compared to the midpoint of our original 2026\nforecasted Adjusted EBITDA net of NCI.\n * The midpoint of our revised 2026 forecasted Adjusted EPS-diluted represents a\ndecrease of 2.6% as compared to our original 2026 Adjusted EPS-diluted.\n * As previously disclosed, during the full year of 2026, we expect to spend\napproximately $950 million to $1.1 billion on capital expenditures which\nincludes expenditures for capital equipment, construction of new facilities,\nand renovations and expansions to our existing hospitals.\nBecause we do not believe we can forecast certain items with sufficient\naccuracy, our revised 2026 forecasted range of Adjusted EBITDA net of NCI, net\nincome attributable to UHS, and Adjusted EPS-diluted, exclude the impact of\nfuture items, if applicable, that are nonrecurring or non-operational in\nnature including items such as changes in the value of certain non-marketable\nsecurities (in connection with our minority ownership in a healthcare\ngenerative artificial intelligence company), the impact of ASU 2016-09, and\nother potential material items that are nonrecurring or non-operational in\nnature including, but not limited to, impairments of goodwill, long-lived and\nintangible assets, reserves for various matters including settlements, legal\njudgments and lawsuits, costs related to extinguishment of debt, gains/losses\non sales of assets and businesses, potential impacts of non-ordinary\nacquisitions, divestitures, joint ventures or other strategic transactions,\nother amounts that may be reflected in the current or prior year financial\nstatements that relate to prior periods, and the impact of share repurchases\nthat differ from our forecasted assumptions. It is also subject to certain\nconditions including those as set forth below in General Information,\nForward-Looking Statements and Risk Factors and Non-GAAP Financial Measures.\n\nConference call information:\n\nWe will hold a conference call for investors and analysts at 9:00 a.m. eastern\ntime on July 28, 2026. A live webcast of the call will be available on our\nwebsite at www.uhs.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4739721-1&h=575833708&u=http%3A%2F%2Fwww.uhs.com%2F&a=www.uhs.com)\n. To participate via telephone, please register in advance at this link\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4739721-1&h=2776853110&u=https%3A%2F%2Fregister-conf.media-server.com%2Fregister%2FBI2c30465e7ef24afab195fcb36fc62a37&a=link)\n. Upon registration, all telephone participants will receive a confirmation\nemail detailing how to join the conference call, including the dial-in number\nalong with a unique passcode and registrant ID that can be used to access the\ncall. Supplemental financial disclosures related to our financial results are\navailable on our website.\n\nGeneral Information, Forward-Looking Statements and Risk Factors and Non-GAAP\nFinancial Measures:\n\nHeadquartered in King of Prussia, PA, UHS is one of the nation's largest and\nmost respected providers of hospital and healthcare services, with annual\nrevenues of approximately $17.4 billion during 2025. Through its subsidiaries,\nUHS employs more than 102,000 employees and, as of June 30, 2026, operated 30\ninpatient acute care facilities, 346 inpatient behavioral health facilities\nand approximately 170 outpatient and other facilities, an insurance offering,\na physician network and various related services located in 40 states,\nWashington, D.C., Puerto Rico and the United Kingdom. Since our founding in\n1979, UHS has grown steadily into a premier Fortune 500® corporation\nperennially recognized by multiple esteemed national rating entities.  Our\nstrategy includes investing in talented staff, facilities, technology and\ninnovation across broad care continuums to deliver favorable patient outcomes\nand contribute to the overall health and wellbeing of the patients we are\nprivileged to serve. A wholly-owned subsidiary of UHS also acts as the advisor\nto Universal Health Realty Income Trust, a real estate investment trust (NYSE:\nUHT). For additional information, please visit www.uhs.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4739721-1&h=3178394596&u=https%3A%2F%2Fnam11.safelinks.protection.outlook.com%2F%3Furl%3Dhttp%253A%252F%252Fwww.uhs.com%252F%26data%3D05%257C02%257CChick.Boyle%2540uhsinc.com%257Cfda0338e5bb24d2d854d08dee2c2872c%257C3d1686d1b444415a93fd1aab58a64f3a%257C1%257C0%257C639197522285479143%257CUnknown%257CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%253D%253D%257C0%257C%257C%257C%26sdata%3D3Q9HWqkTkeRRH0ggzyKnuAqgBKXg0d0q2pygFBKLy9c%253D%26reserved%3D0&a=www.uhs.com)\n.\n\nThis press release contains forward-looking statements based on current\nmanagement expectations.  Numerous factors, including those disclosed herein,\nthose related to healthcare industry trends and those detailed in our filings\nwith the Securities and Exchange Commission (as set forth in Item 2-Forward\nLooking Statements and Risk Factors in our Form 10-Q for the quarter ended\nMarch 31, 2026 and in Item 1A-Risk Factors, and Item 7-Forward-Looking\nStatements and Risk Factors, in our Form 10-K for the year ended December 31,\n2025), may cause the results to differ materially from those anticipated in\nthe forward-looking statements.  These statements are subject to risks and\nuncertainties and therefore actual results may differ materially.  Readers\nshould not place undue reliance on such forward-looking statements which\nreflect management's view only as of the date hereof.  We undertake no\nobligation to revise or update any forward-looking statements, or to make any\nother forward-looking statements, whether as a result of new information,\nfuture events or otherwise.\n\nMany of the factors that could affect our future results are beyond our\ncontrol or ability to predict, including, but not limited to:\n\n * A significant portion of our revenues are derived from federal and state\ngovernment programs including the Medicare and Medicaid programs. Payments\nfrom these programs are subject to statutory and regulatory changes,\nadministrative rulings, interpretations and determinations, requirements for\nutilization review, and federal and state funding restrictions.  Changes to\nthese programs could materially affect program payments which could materially\nimpact our results of operations. In addition, we receive substantial\nreimbursement from multiple states in connection with various supplemental\nMedicaid payment programs. Failure to renew these programs beyond their\nscheduled termination dates, failure of the public hospitals to provide the\nnecessary Inter-Governmental Transfers for the states' share of the Medicaid\ndisproportionate share hospital programs, and the failure of our hospitals\nthat currently receive supplemental Medicaid revenues to qualify for future\nfunds under these programs could cause our actual results of operations for\nthe year ended December 31, 2026 to differ materially from our revised 2026\noperating results forecast.\n * Legislation adopted on July 4, 2025, attaches work and community service\nrequirements to eligibility for Medicaid benefits that will have the effect of\nlimiting Medicaid enrollment and expenditures. That legislation also places\nlimits on provider fees used to increase federal Medicaid funding to states\nand eliminated certain exchange premium tax credits beyond 2025. As these\nprovisions become effective over the next several years, they may be expected\nto reduce our revenues and likely increase the level of uncompensated care\nprovided by our facilities.\n * The increase in interest rates during the past few years has increased our\ninterest expense significantly thereby reducing our free cash flow. As such,\nalthough interest rates have moderated more recently, the effects of increased\nborrowing rates have adversely impacted our results of operations, financial\ncondition and cash flows. We cannot predict future changes to interest rates,\nhowever, significant increases in our borrowing rates could have a material\nunfavorable impact on our future results of operations and our ability to\naccess the capital markets on favorable terms.\n * Changes in laws or policies governing the terms of foreign trade, and in\nparticular, increased trade restrictions, tariffs or taxes on imports from\nwhere our products or materials are made (either directly or through our\nsuppliers) could have an impact on our competitive position, business\noperations and financial results.\n * The outcome of known and unknown litigation, liabilities and other claims\nasserted against us and/or our subsidiaries, including, but not limited to,\nthe matters related to Cumberland Hospital for Children and Adolescents,\nlocated in New Kent, Virginia, which was previously disclosed in various\nfilings including, most recently, our Form 10-Q for the quarterly period ended\nMarch 31, 2026. Although we can make no assurances regarding the ultimate\noutcome of these matters, or what damages will ultimately be awarded, the\nfinal resolution of these matters could have a material adverse effect on the\nCompany.\n * The ability to successfully complete, integrate and realize the benefit and\nsynergies from our proposed acquisition of Talkspace, Inc.\nWe believe that adjusted net income attributable to UHS, adjusted net income\nattributable to UHS per diluted share, EBITDA net of NCI and Adjusted EBITDA\nnet of NCI, which are non-GAAP financial measures (\"GAAP\" is Generally\nAccepted Accounting Principles in the United States of America), are helpful\nto our investors as measures of our operating performance. In addition, we\nbelieve that, when applicable, comparing and discussing our financial results\nbased on these measures, as calculated, is helpful to our investors since it\nneutralizes the effect of material items impacting our net income attributable\nto UHS, such as, changes in the value of certain non-marketable securities (in\nconnection with our minority ownership in a healthcare generative artificial\nintelligence company), the impact of ASU 2016-09, and other potential material\nitems that are nonrecurring or non-operational in nature including, but not\nlimited to, impairments of goodwill, long-lived and intangible assets,\nreserves for various matters including settlements, legal judgments and\nlawsuits, costs related to extinguishment of debt, gains/losses on sales of\nassets and businesses, potential impacts of non-ordinary acquisitions,\ndivestitures, joint ventures or other strategic transactions, and other\namounts that may be reflected in the current or prior year financial\nstatements that relate to prior periods. To obtain a complete understanding of\nour financial performance these measures should be examined in connection with\nnet income attributable to UHS, as determined in accordance with GAAP, and as\npresented in the condensed consolidated financial statements and notes thereto\nin this report or in our filings with the Securities and Exchange Commission\nincluding our Report on Form 10-Q for the quarter ended March 31, 2026 and our\nReport on Form 10-K for the year ended December 31, 2025. Since the items\nincluded or excluded from these measures are significant components in\nunderstanding and assessing financial performance under GAAP, these measures\nshould not be considered to be alternatives to net income as a measure of our\noperating performance or profitability. Since these measures, as presented,\nare not determined in accordance with GAAP and are thus susceptible to varying\ncalculations, they may not be comparable to other similarly titled measures of\nother companies. Investors are encouraged to use GAAP measures when evaluating\nour financial performance.\n\n(more)\n Universal Health Services, Inc.\n Consolidated Statements of Income\n (in thousands, except per share amounts)\n (unaudited)\n\n                                                              Three months                      Six months\n                                                             ended June 30,                   ended June 30,\n                                                     2026               2025          2026               2025\n\n Net revenues                                         $4,638,012         $4,283,816    $9,133,194         $8,383,536\n\n Operating charges:\n    Salaries, wages and benefits                       2,140,309          2,014,951     4,228,538          3,966,055\n    Other operating expenses                           1,351,958          1,162,566     2,635,886          2,268,318\n    Supplies expense                                     423,257            418,785       849,800            821,666\n    Depreciation and amortization                        167,338            152,004       322,764            300,349\n    Lease and rental expense                              38,475             35,240        76,671             72,053\n                                                       4,121,337          3,783,546     8,113,659          7,428,441\n\n Income from operations                                  516,675            500,270     1,019,535            955,095\n\n Interest expense, net                                    39,912             35,364        77,045             75,420\n Other (income) expense, net                             (2,363)            (8,479)       (5,752)           (14,138)\n\n Income before income taxes                              479,126            473,385       948,242            893,813\n\n Provision for income taxes                              114,536            110,773       224,974            209,573\n\n Net income                                              364,590            362,612       723,268            684,240\n\n Less:  Net income (loss) attributable to\n noncontrolling interests (\"NCI\")                          6,143              9,394        16,139             14,342\n\n Net income attributable to UHS                         $358,447           $353,218      $707,129           $669,898\n\n Basic earnings per share attributable to UHS (a)          $6.01              $5.49        $11.71             $10.36\n\n Diluted earnings per share attributable to UHS (a)        $5.98              $5.43        $11.63             $10.23\n\n Universal Health Services, Inc.\n Footnotes to Consolidated Statements of Income\n (in thousands, except per share amounts)\n (unaudited)\n\n                                                                       Three months                  Six months\n (a) Earnings per share calculation:                                  ended June 30,               ended June 30,\n                                                                2026             2025        2026             2025\n Basic and diluted:\n Net income attributable to UHS - basic and diluted             $358,447         $353,218    $707,129         $669,898\n\n Weighted average number of common shares - basic                  59,657           64,356      60,364           64,663\n\n Basic earnings per share attributable to UHS:                      $6.01            $5.49      $11.71           $10.36\n\n Weighted average number of common shares                          59,657           64,356      60,364           64,663\n Add: Other share equivalents                                         253              635         425              851\n Weighted average number of common shares and equiv. - diluted     59,910           64,991      60,789           65,514\n\n Diluted earnings per share attributable to UHS:                    $5.98            $5.43      $11.63           $10.23\n\n Universal Health Services, Inc.\n Schedule of Non-GAAP Supplemental Information (\"Supplemental Schedule\")\n For the Three Months ended June 30, 2026 and 2025\n (in thousands, except per share amounts)\n (unaudited)\n\n Calculation of Earnings/Adjusted Earnings Before Interest, Taxes, Depreciation\n and Amortization\n (\"EBITDA/Adjusted EBITDA net of NCI\")\n\n                                       Three months ended               % Net        Three months ended               % Net\n                                       June 30, 2026                revenues         June 30, 2025                revenues\n\n Net income attributable to UHS                   $358,447                                      $353,218\n    Depreciation and amortization      167,338                                       152,004\n    Interest expense, net              39,912                                        35,364\n    Provision for income taxes         114,536                                       110,773\n EBITDA net of NCI                                $680,233                  14.7 %              $651,359                  15.2 %\n\n Other (income) expense, net           (2,363)                                       (8,479)\n Adjusted EBITDA net of NCI                       $677,870                  14.6 %              $642,880                  15.0 %\n\n Net revenues                                   $4,638,012                                    $4,283,816\n\n Calculation of Adjusted Net Income Attributable to UHS\n\n                                                   Three months ended                            Three months ended\n                                                      June 30, 2026                                 June 30, 2025\n                                                                    Per                                           Per\n                                       Amount                       Diluted Share    Amount                       Diluted Share\n\n Net income attributable to UHS                   $358,447                   $5.98              $353,218                   $5.43\n Plus/minus after-tax adjustments:\n Unrealized gain on equity securities  -                            -                (4,534)                      (0.07)\n Impact of ASU 2016-09, net            -                            -                (796)                        (0.01)\n Subtotal adjustments                  -                            -                (5,330)                      (0.08)\n Adjusted net income                              $358,447                   $5.98              $347,888                   $5.35\n\n Universal Health Services, Inc.\n Schedule of Non-GAAP Supplemental Information (\"Supplemental Schedule\")\n For the Six Months ended June 30, 2026 and 2025\n (in thousands, except per share amounts)\n (unaudited)\n\n Calculation of Earnings/Adjusted Earnings Before Interest, Taxes, Depreciation\n and Amortization\n (\"EBITDA/Adjusted EBITDA net of NCI\")\n\n                                          Six months ended              % Net        Six months ended              % Net\n                                          June 30, 2026             revenues         June 30, 2025             revenues\n\n Net income attributable to UHS                    $707,129                                   $669,898\n    Depreciation and amortization         322,764                                    300,349\n    Interest expense, net                 77,045                                     75,420\n    Provision for income taxes            224,974                                    209,573\n EBITDA net of NCI                               $1,331,912                 14.6 %          $1,255,240                 15.0 %\n\n Other (income) expense, net              (5,752)                                    (14,138)\n Adjusted EBITDA net of NCI                      $1,326,160                 14.5 %          $1,241,102                 14.8 %\n\n Net revenues                                    $9,133,194                                 $8,383,536\n\n Calculation of Adjusted Net Income Attributable to UHS\n\n                                                      Six months ended                           Six months ended\n                                                       June 30, 2026                              June 30, 2025\n                                                                    Per                                        Per\n                                          Amount                    Diluted Share    Amount                    Diluted Share\n\n Net income attributable to UHS                    $707,129                 $11.63            $669,898                 $10.23\n Plus/minus after-tax adjustments:\n Unrealized gain on equity securities     -                         -                (1,249)                   (0.02)\n Impact of ASU 2016-09, net               (2,164)                   (0.03)           (1,257)                   (0.02)\n Subtotal adjustments                     (2,164)                   (0.03)           (2,506)                   (0.04)\n Adjusted net income attributable to UHS           $704,965                 $11.60            $667,392                 $10.19\n\n Universal Health Services, Inc.\n Condensed Consolidated Balance Sheets\n (in thousands)\n (unaudited)\n\n                                                     June 30,          December 31,\n                                                     2026              2025\n Assets\n Current assets:\n     Cash and cash equivalents                    $       138,800   $        137,797\n     Accounts receivable, net                           2,801,108          2,602,434\n     Supplies                                             234,094            232,110\n     Other current assets                                 505,323            435,574\n           Total current assets                         3,679,325          3,407,915\n\n Property and equipment                                13,830,293         13,489,811\n Less: accumulated depreciation                       (6,687,668)        (6,481,714)\n                                                        7,142,625          7,008,097\n\n Other assets:\n     Goodwill                                           3,981,713          3,990,213\n     Deferred income taxes                                 63,719             70,517\n     Right of use assets-operating leases                 365,758            374,239\n     Deferred charges                                       9,908              9,272\n     Other                                                692,438            667,340\n Total Assets                                     $    15,935,486   $     15,527,593\n\n Liabilities and Stockholders' Equity\n Current liabilities:\n     Current maturities of long-term debt         $       771,910   $        748,158\n     Accounts payable and other liabilities             2,451,182          2,416,276\n     Operating lease liabilities                           70,861             73,237\n     Federal and state taxes                                3,703              1,930\n           Total current liabilities                    3,297,656          3,239,601\n\n Other noncurrent liabilities                             559,955            527,827\n Operating lease liabilities noncurrent                   339,467            340,715\n Deferred income taxes                                      3,233              5,649\n Long-term debt                                         4,079,937          4,004,393\n\n Redeemable noncontrolling interest                        73,603             70,620\n\n UHS common stockholders' equity                        7,513,812          7,275,792\n Noncontrolling interest                                   67,823             62,996\n           Total equity                                 7,581,635          7,338,788\n\n Total Liabilities and Stockholders' Equity       $    15,935,486   $     15,527,593\n\n Universal Health Services, Inc.\n Consolidated Statements of Cash Flows\n (in thousands)\n (unaudited)\n                                                                                        Six months\n                                                                                      ended June 30,\n                                                                               2026              2025\n\n Cash Flows from Operating Activities:\n   Net income                                                                    $723,268          $684,240\n   Adjustments to reconcile net income to net\n cash provided by operating activities:\n Depreciation & amortization                                                      322,764           300,349\n Stock-based compensation expense                                                  45,413            45,707\n (Gain) loss on sales of assets and businesses                                    (5,578)             2,833\n   Changes in assets & liabilities, net of effects from\n acquisitions and dispositions:\n    Accounts receivable                                                         (137,907)          (92,636)\n    Accrued interest                                                                 (29)           (4,532)\n    Accrued and deferred income taxes                                              29,759          (55,913)\n    Other working capital accounts                                              (182,146)            25,324\n    Other assets and deferred charges                                            (18,466)          (22,404)\n    Other, net                                                                     10,753            16,143\n    Accrued insurance expense, net of commercial premiums paid                    157,435            94,696\n    Payments made in settlement of self-insurance claims, net of commercial     (100,335)          (84,781)\n insurance reimbursements\n           Net cash provided by operating activities                              844,931           909,026\n\n Cash Flows from Investing Activities:\n    Property and equipment additions                                            (444,790)         (505,040)\n    Proceeds received from sales of assets and businesses                          15,732             2,980\n    Acquisition of businesses and property                                        (4,857)           (8,314)\n    Inflows (outflows) from foreign exchange contracts that hedge our net          12,011          (66,402)\n U.K. investment\n    Costs incurred for purchase and development of enterprise resource            (9,964)                 0\n planning application\n    Decrease (increase) in capital reserves of commercial insurance                    56             (462)\n subsidiary\n           Net cash used in investing activities                                (431,812)         (577,238)\n\n Cash Flows from Financing Activities:\n    Repayments of long-term debt                                                (201,745)          (18,548)\n    Additional borrowings                                                         300,040            94,601\n    Financing costs                                                               (1,410)                 0\n    Repurchase of common shares                                                 (484,601)         (378,542)\n    Dividends paid                                                               (24,760)          (26,434)\n    Issuance of common stock                                                        8,659             8,137\n    Profit distributions to noncontrolling interests                             (11,889)           (9,621)\n    Purchase of ownership interests by minority members, net                        4,324            11,336\n           Net cash used in financing activities                                (411,382)         (319,071)\n\n    Effect of exchange rate changes on cash and cash equivalents                    (676)             3,931\n Increase in cash, cash equivalents and restricted cash                             1,061            16,648\n Cash, cash equivalents and restricted cash, beginning of period                  271,322           224,752\n Cash, cash equivalents and restricted cash, end of period                       $272,383          $241,400\n\n Supplemental Disclosures of Cash Flow Information:\n   Interest paid                                                                  $74,460           $77,448\n\n   Income taxes paid, net of refunds                                             $197,419          $251,786\n\n   Noncash purchases of property and equipment                                    $80,646          $148,887\n\n                                                   Universal Health Services, Inc.\n                                                 Supplemental Statistical Information\n                                                             (unaudited)\n\n                                                                                               % Change                % Change\n                                                                                              3 Months ended          6 Months ended\n Same Facility:                                                                               6/30/2026               6/30/2026\n\n Acute Care Hospitals (1)\n Revenues                                                                                               8.2 %                   8.2 %\n Adjusted Admissions                                                                                    2.9 %                   1.4 %\n Adjusted Patient Days                                                                                  3.1 %                   1.9 %\n Revenue Per Adjusted Admission                                                                         3.0 %                   4.6 %\n Revenue Per Adjusted Patient Day                                                                       2.8 %                   4.2 %\n\n Behavioral Health Hospitals (1)\n Revenues                                                                                               7.4 %                   7.4 %\n Adjusted Admissions                                                                                    0.5 %                   0.9 %\n Adjusted Patient Days                                                                                  1.4 %                   1.5 %\n Revenue Per Adjusted Admission                                                                         7.1 %                   6.6 %\n Revenue Per Adjusted Patient Day                                                                       6.1 %                   6.0 %\n\n UHS Consolidated                                                Second Quarter Ended                    Six Months Ended\n                                                           6/30/2026            6/30/2025     6/30/2026               6/30/2025\n\n Revenues                                                   $4,638,012           $4,283,816        $9,133,194              $8,383,536\n EBITDA net of NCI                                            $680,233             $651,359        $1,331,912              $1,255,240\n EBITDA Margin net of NCI                                       14.7 %               15.2 %            14.6 %                  15.0 %\n Adjusted EBITDA net of NCI                                   $677,870             $642,880        $1,326,160              $1,241,102\n Adjusted EBITDA Margin net of NCI                              14.6 %               15.0 %            14.5 %                  14.8 %\n\n Cash Flow From Operations                                    $443,303             $548,978          $844,931                $909,026\n Capital Expenditures                                         $227,633             $266,014          $444,790                $505,040\n Days Sales Outstanding                                                                       56                      50\n\n Debt                                                                                              $4,851,847              $4,582,897\n UHS' Shareholders Equity                                                                          $7,513,812              $7,030,048\n Debt / Total Capitalization                                                                  39.2 %                  39.5 %\n Debt / EBITDA net of NCI (2)                                                                 1.73                    1.91\n Debt / Adjusted EBITDA net of NCI (2)                                                        1.81                    1.92\n Debt / Cash From Operations (2)                                                              2.70                    2.41\n\n (1) Prior year amounts related to certain facilities previously included in\n our Behavioral Health Care Services' results have been reclassified into our\n Acute Care Hospital Services' results as of January 1, 2025 to conform with\n current year presentation.\n (2) Latest 4 quarters.\n\n Universal Health Services, Inc.\n Acute Care Hospital Services\n For the Three and Six Months ended\n June 30, 2026 and 2025\n (in thousands)\n (unaudited)\n\n Same Facility Basis - Acute Care Hospital Services\n\n                                                       Three months ended                  Three months ended                  Six months ended                   Six months ended\n                                                       June 30, 2026                       June 30, 2025                       June 30, 2026                      June 30, 2025\n                                                       Amount               % of Net       Amount               % of Net       Amount              % of Net       Amount              % of Net\n                                                                            Revenues                            Revenues                           Revenues                           Revenues\n Net revenues                                           $2,507,889          100.0 %         $2,318,826          100.0 %        $4,977,934          100.0 %        $4,600,657          100.0 %\n Operating charges:\n Salaries, wages and benefits                              991,733          39.5 %             938,594          40.5 %         1,944,568           39.1 %         1,852,423           40.3 %\n Other operating expenses                                  779,029          31.1 %             672,172          29.0 %         1,507,181           30.3 %         1,310,771           28.5 %\n Supplies expense                                          362,131          14.4 %             361,093          15.6 %         727,628             14.6 %         709,917             15.4 %\n Depreciation and amortization                             103,112          4.1 %               96,458          4.2 %          198,793             4.0 %          191,359             4.2 %\n Lease and rental expense                                   25,959          1.0 %               24,240          1.0 %          52,697              1.1 %          49,584              1.1 %\n Subtotal-operating expenses                           2,261,964            90.2 %         2,092,557            90.2 %         4,430,867           89.0 %         4,114,054           89.4 %\n Income from operations                                245,925              9.8 %          226,269              9.8 %          547,067             11.0 %         486,603             10.6 %\n Interest expense, net                                 1,301                0.1 %          (1,613)              (0.1) %        2,287               0.0 %          649                 0.0 %\n Other (income) expense, net                               (1,189)          (0.0) %            (1,011)          (0.0) %        (3,744)             (0.1) %            (9,583)         (0.2) %\n Income before income taxes                            $245,813             9.8 %          $228,893             9.9 %          $548,524            11.0 %         $495,537            10.8 %\n\n All Acute Care Hospital Services\n\n                                                       Three months ended                  Three months ended                  Six months ended                   Six months ended\n                                                       June 30, 2026                       June 30, 2025                       June 30, 2026                      June 30, 2025\n                                                       Amount               % of Net       Amount               % of Net       Amount              % of Net       Amount              % of Net\n                                                                            Revenues                            Revenues                           Revenues                           Revenues\n Net revenues                                           $2,609,999          100.0 %         $2,403,837          100.0 %         $5,220,135         100.0 %        $4,761,651          100.0 %\n Operating charges:\n Salaries, wages and benefits                              999,864          38.3 %             938,708          39.1 %         1,972,710           37.8 %         1,854,232           38.9 %\n Other operating expenses                                  885,882          33.9 %             757,549          31.5 %         1,745,729           33.4 %         1,474,211           31.0 %\n Supplies expense                                          363,494          13.9 %             361,097          15.0 %         731,432             14.0 %         709,789             14.9 %\n Depreciation and amortization                             106,623          4.1 %               96,459          4.0 %          202,941             3.9 %          191,362             4.0 %\n Lease and rental expense                                   26,170          1.0 %               24,240          1.0 %          52,742              1.0 %          49,584              1.0 %\n Subtotal-operating expenses                           2,382,033            91.3 %         2,178,053            90.6 %         4,705,554           90.1 %         4,279,178           89.9 %\n Income from operations                                227,966              8.7 %          225,784              9.4 %          514,581             9.9 %          482,473             10.1 %\n Interest expense, net                                 1,301                0.0 %          (1,613)              (0.1) %        2,287               0.0 %          649                 0.0 %\n Other (income) expense, net                           (985)                (0.0) %        (916)                (0.0) %        (3,117)             (0.1) %        (9,183)             (0.2) %\n Income before income taxes                            $227,650             8.7 %          $228,313             9.5 %          $515,411            9.9 %          $491,007            10.3 %\n\n We believe that providing our results on a \"Same Facility\" basis (which is a\n non-GAAP measure), which includes the operating results for facilities and\n businesses operated in both the current year and prior year periods, is\n helpful to our investors as a measure of our operating performance. Our Same\n Facility results also neutralize (if applicable), the effect of material items\n that are nonrecurring or non-operational in nature including items such as,\n but not limited to, reserves for various matters, settlements, legal judgments\n and lawsuits, cost related to extinguishment of debt, gains/losses on sales of\n assets and businesses, impairments of goodwill, long-lived and intangible\n assets and other amounts that may be reflected in the current or prior year\n financial statements that relate to prior periods. Our Same Facility basis\n results exclude from net revenues and other operating expenses, provider tax\n assessments incurred in each period. However, these provider tax assessments\n are included in net revenues and other operating expenses as reflected in the\n table under All Acute Care Hospital Services. The provider tax assessments had\n no impact on the income before income taxes as reflected on the above tables\n since the amounts offset between net revenues and other operating expenses. To\n obtain a complete understanding of our financial performance, the Same\n Facility results should be examined in connection with our net income as\n determined in accordance with GAAP and as presented herein and the condensed\n consolidated financial statements and notes thereto as contained in our Form\n 10-K for the year ended December 31, 2025 and our Form 10-Q for the quarter\n ended March 31, 2026.\n\n Prior year amounts related to certain facilities previously included in our\n Behavioral Health Care Services' results have been reclassified into our Acute\n Care Hospital Services' results as of January 1, 2025 to conform with current\n year presentation.\n\n The All Acute Care Hospital Services table summarizes the results of\n operations for all our acute care operations during the periods presented.\n These amounts include: (i) our acute care results on a same facility basis,\n as indicated above; (ii) the impact of provider tax assessments which\n increased net revenues and other operating expenses but had no impact on\n income before income taxes, and; (iii) certain other amounts including the\n results of facilities acquired or opened during the last twelve months.\n\n Universal Health Services, Inc.\n Behavioral Health Care Services\n For the Three and Six Months ended\n June 30, 2026 and 2025\n (in thousands)\n (unaudited)\n\n Same Facility Basis - Behavioral Health Care Services\n\n                                                                   Three months ended                  Three months ended                  Six months ended                   Six months ended\n                                                                   June 30, 2026                       June 30, 2025                       June 30, 2026                      June 30, 2025\n                                                                   Amount               % of Net       Amount               % of Net       Amount              % of Net       Amount              % of Net\n                                                                                        Revenues                            Revenues                           Revenues                           Revenues\n Net revenues                                                       $1,929,171          100.0 %         $1,796,295          100.0 %        $3,747,847          100.0 %        $3,490,455          100.0 %\n Operating charges:\n Salaries, wages and benefits                                      1,019,296            52.8 %         959,030              53.4 %         2,012,334           53.7 %         1,878,820           53.8 %\n Other operating expenses                                          355,579              18.4 %         325,595              18.1 %         690,002             18.4 %         645,195             18.5 %\n Supplies expense                                                  57,889               3.0 %          56,957               3.2 %          116,345             3.1 %          111,952             3.2 %\n Depreciation and amortization                                     56,764               2.9 %          51,873               2.9 %          111,920             3.0 %          102,752             2.9 %\n Lease and rental expense                                          12,054               0.6 %          10,412               0.6 %          23,359              0.6 %          21,290              0.6 %\n Subtotal-operating expenses                                       1,501,582            77.8 %         1,403,867            78.2 %         2,953,960           78.8 %         2,760,009           79.1 %\n Income from operations                                            427,589              22.2 %         392,428              21.8 %         793,887             21.2 %         730,446             20.9 %\n Interest expense, net                                             1,168                0.1 %          1,104                0.1 %          2,360               0.1 %          2,179               0.1 %\n Other (income) expense, net                                       (983)                (0.1) %        (837)                (0.0) %        (1,866)             (0.0) %        (1,662)             (0.0) %\n Income before income taxes                                        $427,404             22.2 %         $392,161             21.8 %         $793,393            21.2 %         $729,929            20.9 %\n\n All Behavioral Health Care Services\n\n                                                                   Three months ended                  Three months ended                  Six months ended                   Six months ended\n                                                                   June 30, 2026                       June 30, 2025                       June 30, 2026                      June 30, 2025\n                                                                   Amount               % of Net       Amount               % of Net       Amount              % of Net       Amount              % of Net\n                                                                                        Revenues                            Revenues                           Revenues                           Revenues\n Net revenues                                                       $2,025,065          100.0 %         $1,877,273          100.0 %        $3,907,217          100.0 %        $3,616,337          100.0 %\n Operating charges:\n Salaries, wages and benefits                                      1,040,604            51.4 %         975,553              52.0 %         2,041,698           52.3 %         1,898,919           52.5 %\n Other operating expenses                                          443,752              21.9 %         383,412              20.4 %         835,650             21.4 %         745,674             20.6 %\n Supplies expense                                                  58,475               2.9 %          58,289               3.1 %          117,262             3.0 %          113,437             3.1 %\n Depreciation and amortization                                     58,895               2.9 %          53,170               2.8 %          115,529             3.0 %          104,322             2.9 %\n Lease and rental expense                                          12,212               0.6 %          10,963               0.6 %          23,727              0.6 %          22,327              0.6 %\n Subtotal-operating expenses                                       1,613,938            79.7 %         1,481,387            78.9 %         3,133,866           80.2 %         2,884,679           79.8 %\n Income from operations                                            411,127              20.3 %         395,886              21.1 %         773,351             19.8 %         731,658             20.2 %\n Interest expense, net                                             1,273                0.1 %          1,104                0.1 %          2,545               0.1 %          2,179               0.1 %\n Other (income) expense, net                                       (983)                (0.0) %        (837)                (0.0) %        (1,866)             (0.0) %        (1,662)             (0.0) %\n Income before income taxes                                        $410,837             20.3 %         $395,619             21.1 %         $772,672            19.8 %         $731,141            20.2 %\n\n We believe that providing our results on a \"Same Facility\" basis (which is a\n non-GAAP measure), which includes the operating results for facilities and\n businesses operated in both the current year and prior year periods, is\n helpful to our investors as a measure of our operating performance. Our Same\n Facility results also neutralize (if applicable), the effect of material items\n that are nonrecurring or non-operational in nature including items such as,\n but not limited to, reserves for various matters, settlements, legal judgments\n and lawsuits, cost related to extinguishment of debt, gains/losses on sales of\n assets and businesses, impairments of goodwill, long-lived and intangible\n assets and other amounts that may be reflected in the current or prior year\n financial statements that relate to prior periods. Our Same Facility basis\n results exclude from net revenues and other operating expenses, provider tax\n assessments incurred in each period. However, these provider tax assessments\n are included in net revenues and other operating expenses as reflected in the\n table under All Behavioral Health Care Services. The provider tax assessments\n had no impact on the income before income taxes as reflected on the above\n tables since the amounts offset between net revenues and other operating\n expenses. To obtain a complete understanding of our financial performance, the\n Same Facility results should be examined in connection with our net income as\n determined in accordance with GAAP and as presented herein and the condensed\n consolidated financial statements and notes thereto as contained in our Form\n 10-K for the year ended December 31, 2025 and our Form 10-Q for the quarter\n ended March 31, 2026.\n\n Prior year amounts related to certain facilities previously included in our\n Behavioral Health Care Services' results have been reclassified into our Acute\n Care Hospital Services' results as of January 1, 2025 to conform with current\n year presentation.\n\n The All Behavioral Health Care Services table summarizes the results of\n operations for all our behavioral health care facilities during the periods\n presented. These amounts include: (i) our behavioral health results on a same\n facility basis, as indicated above; (ii) the impact of provider tax\n assessments which increased net revenues and other operating expenses but had\n no impact on income before income taxes, and; (iii) certain other amounts\n including the results of facilities acquired or opened during the last twelve\n months.\n\n Universal Health Services, Inc.\n Selected Hospital Statistics\n For the Three Months ended\n June 30, 2026 and 2025\n (unaudited)\n\n AS REPORTED:\n\n                                                   ACUTE                                      BEHAVIORAL HEALTH\n                               6/30/26          6/30/25          %  change     6/30/26           6/30/25           %  change\n\n Hospitals owned and leased              30               28     7.1 %                 346               338       2.4 %\n Average licensed beds                7,434            7,159     3.8 %              24,587            24,254       1.4 %\n Average available beds               7,262            6,987     3.9 %              24,487            24,154       1.4 %\n Patient days                       420,001          412,885     1.7 %           1,631,375         1,620,819       0.7 %\n Average daily census               4,615.4          4,537.2     1.7 %            17,927.2          17,811.2       0.7 %\n Occupancy-licensed beds             62.1 %           63.4 %     -2.0 %             72.9 %            73.4 %       -0.7 %\n Occupancy-available beds            63.6 %           64.9 %     -2.1 %             73.2 %            73.7 %       -0.7 %\n Admissions                          88,649           87,278     1.6 %             116,857           118,519       -1.4 %\n Length of stay                         4.7              4.7     0.2 %                14.0              13.7       2.1 %\n\n Inpatient revenue              $15,586,752      $13,886,867     12.2 %         $3,302,515        $2,993,234       10.3 %\n Outpatient revenue              11,194,461        9,638,566     16.1 %            326,489           294,989       10.7 %\n Total patient revenue           26,781,213       23,525,433     13.8 %          3,629,004         3,288,223       10.4 %\n Other revenue                      353,881          285,690     23.9 %             96,736            93,542       3.4 %\n Gross revenue                   27,135,094       23,811,123     14.0 %          3,725,740         3,381,765       10.2 %\n Total deductions                24,525,095       21,407,286     14.6 %          1,700,675         1,504,492       13.0 %\n Net revenue                     $2,609,999       $2,403,837     8.6 %          $2,025,065        $1,877,273       7.9 %\n\n SAME FACILITY:\n\n                                                   ACUTE                                      BEHAVIORAL HEALTH\n                               6/30/26          6/30/25          %  change     6/30/26           6/30/25           %  change\n\n Hospitals owned and leased              29               29     0.0 %                 334               334       0.0 %\n Average licensed beds                7,330            7,159     2.4 %              23,703            23,652       0.2 %\n Average available beds               7,158            6,987     2.4 %              23,603            23,552       0.2 %\n Patient days                       419,710          412,885     1.7 %           1,597,105         1,576,830       1.3 %\n Average daily census               4,612.2          4,537.2     1.7 %            17,550.6          17,327.8       1.3 %\n Occupancy-licensed beds             62.9 %           63.4 %     -0.7 %             74.0 %            73.3 %       1.1 %\n Occupancy-available beds            64.4 %           64.9 %     -0.8 %             74.4 %            73.6 %       1.1 %\n Admissions                          88,562           87,278     1.5 %             114,911           114,433       0.4 %\n Length of stay                         4.7              4.7     0.2 %                13.9              13.8       0.9 %\n\n Prior year amounts related to certain facilities previously included in our\n Behavioral Health Care Services' results have been reclassified into our Acute\n Care Hospital Services' results as of January 1, 2025 to conform with current\n year presentation.\n\n Universal Health Services, Inc.\n Selected Hospital Statistics\n For the Six Months ended\n June 30, 2026 and 2025\n (unaudited)\n\n AS REPORTED:\n\n                                                   ACUTE                                      BEHAVIORAL HEALTH\n                               6/30/26          6/30/25          %  change     6/30/26           6/30/25           %  change\n\n Hospitals owned and leased              30               28     7.1 %                 346               338       2.4 %\n Average licensed beds                7,300            7,076     3.2 %              24,579            24,170       1.7 %\n Average available beds               7,128            6,904     3.2 %              24,479            24,070       1.7 %\n Patient days                       851,080          841,922     1.1 %           3,250,959         3,209,365       1.3 %\n Average daily census               4,702.1          4,651.5     1.1 %            17,961.1          17,731.3       1.3 %\n Occupancy-licensed beds             64.4 %           65.7 %     -2.0 %             73.1 %            73.4 %       -0.4 %\n Occupancy-available beds            66.0 %           67.4 %     -2.1 %             73.4 %            73.7 %       -0.4 %\n Admissions                         176,538          175,368     0.7 %             234,348           234,869       -0.2 %\n Length of stay                         4.8              4.8     0.4 %                13.9              13.7       1.5 %\n\n Inpatient revenue              $31,549,934      $28,205,158     11.9 %         $6,568,817        $5,838,122       12.5 %\n Outpatient revenue              22,007,439       18,966,362     16.0 %            638,981           569,023       12.3 %\n Total patient revenue           53,557,373       47,171,520     13.5 %          7,207,798         6,407,145       12.5 %\n Other revenue                      691,138          566,133     22.1 %            192,211           181,921       5.7 %\n Gross revenue                   54,248,511       47,737,653     13.6 %          7,400,009         6,589,066       12.3 %\n Total deductions                49,028,376       42,976,002     14.1 %          3,492,792         2,972,729       17.5 %\n Net revenue                     $5,220,135       $4,761,651     9.6 %          $3,907,217        $3,616,337       8.0 %\n\n SAME FACILITY:\n\n                                                   ACUTE                                      BEHAVIORAL HEALTH\n                               6/30/26          6/30/25          %  change     6/30/26           6/30/25           %  change\n\n Hospitals owned and leased              29               29     0.0 %                 334               334       0.0 %\n Average licensed beds                7,177            7,076     1.4 %              23,860            23,754       0.4 %\n Average available beds               7,005            6,904     1.5 %              23,760            23,654       0.4 %\n Patient days                       845,542          841,922     0.4 %           3,190,451         3,147,427       1.4 %\n Average daily census               4,671.5          4,651.5     0.4 %            17,626.8          17,389.1       1.4 %\n Occupancy-licensed beds             65.1 %           65.7 %     -1.0 %             73.9 %            73.2 %       0.9 %\n Occupancy-available beds            66.7 %           67.4 %     -1.0 %             74.2 %            73.5 %       0.9 %\n Admissions                         175,342          175,368     0.0 %             231,179           229,482       0.7 %\n Length of stay                         4.8              4.8     0.4 %                13.8              13.7       0.6 %\n\n Prior year amounts related to certain facilities previously included in our\n Behavioral Health Care Services' results have been reclassified into our Acute\n Care Hospital Services' results as of January 1, 2025 to conform with current\n year presentation.\n\n Universal Health Services, Inc.\n Supplemental Non-GAAP Disclosures\n Revised 2026 Operating Results Forecast\n (in thousands, except per share amounts)\n\n                                                                                               Revised Forecast For The Year Ending December 31, 2026\n                                                                                                              % Net                                      % Net\n                                                                                     Low                    revenues            High                   revenues\n Net revenues                                                                         $18,501,000                                $18,762,000\n\n Adjusted net income attributable to UHS (a)                                           $1,322,985                                 $1,404,050\n\n  Depreciation and amortization                                                           669,318                                    669,318\n  Interest expense                                                                        204,898                                    204,898\n  Other (income) expense, net                                                             (9,924)                                    (9,924)\n  Provision for income taxes                                                              422,378                                    448,259\n Adjusted EBITDA net of NCI (b)                                                        $2,609,655              14.1 %             $2,716,601              14.5 %\n\n Adjusted net income attributable to UHS, per diluted share (a)                            $22.28                                     $23.65\n\n Shares used in computing diluted earnings per share                                       59,369                                     59,369\n\n (a) Adjusted net income attributable to UHS/per diluted share exclude the\n following items because we do not believe we can forecast these items with\n sufficient accuracy. Such items include: the impact of future items, if\n applicable, that are nonrecurring or non-operational in nature including items\n such as pre-tax unrealized gains/losses resulting from changes in the value of\n certain non-marketable securities, the impact of ASU 2016-09, and other\n potential material items including, but not limited to, impairments of\n goodwill, long-lived and intangible assets, reserves for various matters\n including settlements, legal judgments and lawsuits, costs related to\n extinguishment of debt, gains/losses on sales of assets and businesses,\n potential impacts of non-ordinary acquisitions, divestitures, joint ventures\n or other strategic transactions, other amounts that may be reflected in the\n current or prior year financial statements that relate to prior periods, and\n the impact of share repurchases that differ from our forecasted assumptions.\n Adjusted net income attributable to UHS/per diluted share is also subject to\n certain conditions including those as set forth in General Information,\n Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures.\n\n (b) Adjusted EBITDA net of NCI is a non-GAAP financial measure and should not\n be considered a measure of financial performance under GAAP.  We believe\n Adjusted EBITDA net of NCI is helpful to our investors as a measure of\n operating performance.\n\n \n\nView original\ncontent:https://www.prnewswire.com/news-releases/universal-health-services-inc-announces-financial-results-for-the-three-and-six-month-periods-ended-june-30-2026-and-revises-2026-full-year-operating-results-forecast-302835623.html\n(https://www.prnewswire.com/news-releases/universal-health-services-inc-announces-financial-results-for-the-three-and-six-month-periods-ended-june-30-2026-and-revises-2026-full-year-operating-results-forecast-302835623.html)\n\nSOURCE Universal Health Services, Inc.\n\n\n\nDarren Lehrich, Vice President-Investor Relations, 610-382-3310, Darren.Lehrich@uhsinc.com\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-07-27T20:16:00.410835269Z","server_sent_at_ms":1785183360410},"received_at":"2026-07-27T20:16:00.730Z","source_url":"https://www.prnewswire.com/news-releases/universal-health-services-inc-announces-financial-results-for-the-three-and-six-month-periods-ended-june-30-2026-and-revises-2026-full-year-operating-results-forecast-302835623.html"},"analysis":{"id":"88660","press_release_id":"99621","analysis_json":{"industry":{"label":"Health Care Providers & Services","sector":"Health Care"},"redFlags":["Revised 2026 guidance lowers Adjusted EBITDA and EPS midpoints by 1.9% and 2.6%","$28 million unfavorable pre-tax impact from increased reserve for self-insured liability claims","Net cash provided by operating activities decreased to $845 million from $909 million in the prior year period"],"eventType":"earnings","narrative":"Universal Health Services reported Q2 2026 revenue of $4.64 billion, up 8.3% year-over-year, with diluted EPS rising to $5.98 from $5.43 in the prior year.\n\nThe company revised its full-year 2026 forecast, slightly raising the revenue midpoint but lowering Adjusted EBITDA and Adjusted EPS outlooks by 1.9% and 2.6%, respectively, due to reserve increases and reimbursement changes.\n\nOperational metrics showed solid growth in both acute care and behavioral health segments, while the company repurchased $320 million of stock during the quarter, leaving approximately $978 million remaining in its authorization.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"UHS beats on Q2 earnings but trims full-year guidance amid liability reserves and Medicaid uncertainty."},"keyFigures":{"eps":5.98,"revenue":4638012000,"guidance":"FY26 Revenue $18.501B-$18.762B; Adjusted EBITDA $2.610B-$2.717B; Adjusted EPS $22.28-$23.65","revenueYoy":"8.3%","customDimensions":{"adjusted_eps":5.98,"adjusted_ebitda":677900000,"repurchase_cost_q2":320300000,"shares_repurchased_q2":1890000,"net_cash_from_operations":845000000,"available_repurchase_authorization":977600000}},"quotedText":"","namedEntities":{"people":[{"name":"Darren Lehrich","role":"Vice President-Investor Relations"}],"products":[],"companies":[{"name":"Universal Health Services, Inc.","ticker":"UHS"},{"name":"Talkspace, Inc.","relationship":"acquisition target"},{"name":"Universal Health Realty Income Trust","ticker":"UHT","relationship":"subsidiary"}],"dollarAmounts":[{"amount":"$4.638 billion","context":"Q2 2026 net revenues"},{"amount":"$358.4 million","context":"Q2 2026 net income attributable to UHS"},{"amount":"$100 million","context":"Q2 favorable pre-tax impact from Florida Medicaid managed care directed payment program"},{"amount":"$28 million","context":"Q2 unfavorable pre-tax impact from reserve for self-insured liability claims"},{"amount":"$320.3 million","context":"Q2 aggregate cost of share repurchases"},{"amount":"$2.610 billion","context":"Revised FY26 low end Adjusted EBITDA"}]},"materialImpact":{"score":4,"reasoning":"Q2 revenue and EPS showed strong year-over-year growth, but the company lowered its full-year 2026 guidance for Adjusted EBITDA and EPS, citing reserve increases and operational trends."},"tickerRelevance":{"others":[{"ticker":"TALK","relevance":"acquisition target"},{"ticker":"UHT","relevance":"subsidiary"}],"primary":"UHS"},"globalImportance":45,"audienceRelevance":55,"eventTypeSecondary":["guidance_update"],"importanceComponents":{"tickerTier":"large-cap","eventGravity":"earnings_with_guidance_cut","sectorWeight":"healthcare","householdBrandBoost":false}},"event_type":"earnings","event_type_secondary":["guidance_update"],"sentiment":"mixed","material_impact_score":4,"narrative":"Universal Health Services reported Q2 2026 revenue of $4.64 billion, up 8.3% year-over-year, with diluted EPS rising to $5.98 from $5.43 in the prior year.\n\nThe company revised its full-year 2026 forecast, slightly raising the revenue midpoint but lowering Adjusted EBITDA and Adjusted EPS outlooks by 1.9% and 2.6%, respectively, due to reserve increases and reimbursement changes.\n\nOperational metrics showed solid growth in both acute care and behavioral health segments, while the company repurchased $320 million of stock during the quarter, leaving approximately $978 million remaining in its authorization.","key_figures":{"eps":5.98,"revenue":4638012000,"guidance":"FY26 Revenue $18.501B-$18.762B; Adjusted EBITDA $2.610B-$2.717B; Adjusted EPS $22.28-$23.65","revenueYoy":"8.3%","customDimensions":{"adjusted_eps":5.98,"adjusted_ebitda":677900000,"repurchase_cost_q2":320300000,"shares_repurchased_q2":1890000,"net_cash_from_operations":845000000,"available_repurchase_authorization":977600000}},"named_entities":{"people":[{"name":"Darren Lehrich","role":"Vice President-Investor Relations"}],"products":[],"companies":[{"name":"Universal Health Services, Inc.","ticker":"UHS"},{"name":"Talkspace, Inc.","relationship":"acquisition target"},{"name":"Universal Health Realty Income Trust","ticker":"UHT","relationship":"subsidiary"}],"dollarAmounts":[{"amount":"$4.638 billion","context":"Q2 2026 net revenues"},{"amount":"$358.4 million","context":"Q2 2026 net income attributable to UHS"},{"amount":"$100 million","context":"Q2 favorable pre-tax impact from Florida Medicaid managed care directed payment program"},{"amount":"$28 million","context":"Q2 unfavorable pre-tax impact from reserve for self-insured liability claims"},{"amount":"$320.3 million","context":"Q2 aggregate cost of share repurchases"},{"amount":"$2.610 billion","context":"Revised FY26 low end Adjusted EBITDA"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-07-27T21:41:44.961Z","global_importance":45,"audience_relevance":55,"importance_components":{"tickerTier":"large-cap","eventGravity":"earnings_with_guidance_cut","sectorWeight":"healthcare","householdBrandBoost":false}},"durationMs":412064,"modelName":"glm-4.7"}}