4Q Profit at Universal Health Services Jumps 42%

King of Prussia, Pa.-based Universal Health Services recorded fourth-quarter profit of $135.5 million — a 42 percent spike from $95.3 million in profit in the fourth quarter of 2011.

Universal Health ServicesUHS' positive fourth quarter resulted mostly from several "favorable after-tax impacts." For example, UHS' sale of Auburn (Wash.) Regional Medical Center this past October netted the for-profit hospital chain $16.4 million, and UHS also received more than $5.5 million in after-tax electronic health record incentives from the federal government.

In the three months ended Dec. 31, 2012, UHS' net revenue increased more than 6 percent, from $1.66 billion in the fourth quarter of 2011 to $1.76 billion in the most recent quarter.

For the entire 2012 fiscal year, UHS posted a healthy bottom line. Profit was up 11.4 percent to $443.4 million. Revenue increased 3 percent to more than $6.96 billion, and UHS' adjusted EBITDA stood at $1.23 billion. As of Dec. 31, UHS also has more than $1.4 billion in assets.

UHS' same-facility operating statistics increased modestly in FY 2012. Adjusted admissions rose 0.2 percent at its acute-care hospitals, as did revenue per adjusted admission. Outpatient revenue soared 13 percent year-over-year, and UHS' inpatient revenue also increased at a healthy 5.4 percent clip.

The past two years have been good to UHS despite the uncertainty surrounding healthcare reform, and UHS executives said they expect net income in FY 2013 to increase by 5 to 8 percent from FY 2012. UHS currently operates 23 acute-care hospitals and 172 behavioral health facilities.

More Articles on Universal Health Services:

For-Profit Hospital Stock Report: Week of Feb. 18-22, 2013
UHS VP of Development Richard Wright Resigns
UHS to Pay Cash Dividend in March

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