Net income for the second quarter hit $171.3 million, up from $163.9 million during the second quarter of 2022.
Second-quarter revenue from UHS’ acute care services were up 9.7 percent year over year on a same facility basis, while revenue from its behavioral health services increased by 7.8 percent. Salaries, wages and benefits increased 4.7 percent year over year on the second quarter to $1.77 billion
“In some areas, the labor scarcity is putting a strain on our resources and staff, which has required us to utilize higher‑cost temporary labor and pay premiums above standard compensation for essential workers,” UHS said in a July 25 news release. “A significant portion of our revenues are derived from federal and state government programs including the Medicare and Medicaid programs … and changes to these programs, if adopted, could materially affect program payments which could materially impact our results of operations.”
After factoring in nonoperating items, UHS ended the second quarter with net income of $164.06 million. The company reported net income of $325.28 million in the same period of 2021.
Looking at the first six months of this year, after factoring in nonoperating items, UHS reported net income of $334.4 million on revenues of $7.02 billion. A year earlier, the for-profit system posted net income of $318 million on revenues of $6.62 billion.
UHS’ net cash from operating activities was $654 million for the six months ended June 30, compared with $478 million during the first six months of 2022.
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