UHS' net income up 8.6% in Q1: 4 things to know

King of Prussia, Pa.-based Universal Health Services saw revenues and net income increase in the first quarter of 2018 compared to the same period of the year prior.

Here are four things to know about UHS' financial results.

1. UHS said revenues jumped 2.9 percent year over year to $2.7 billion in the quarter ended March 31, 2018.

2. The revenue growth was partially due to increased patient admissions. At acute care hospitals owned during both periods, admissions when adjusted for outpatient activity increased 2.3 percent compared to the first quarter of 2017. At behavioral healthcare facilities on a same-facility basis, adjusted admissions increased 1.6 percent year over year.

3. UHS also saw expenses grow, from $2.3 billion in the first quarter of 2017 to $2.4 billion in the first quarter of 2018.

4. UHS ended the first quarter of 2018 with net income of $223.8 million, compared to $206.1 million in the same period of the year prior. UHS said effective in January 2018, its provision for net income was favorably affected by the federal Tax Cuts and Jobs Act of 2017, which includes a lower corporate tax rate. 

 

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