King of Prussia, Pa.-based Universal Health Services reported an operating income of $500.3 million (11.7% margin) in the second quarter, up from an operating gain of $436.4 million (11.2% margin) in the second quarter of 2024, according to financial results published July 28.
Nine things to know:
1. UHS reported a net income of $353.2 million (8.2% margin) in the second quarter, up from $289.2 million (7.4% margin) in the same period last year.
2. Net revenues increased 9.6% year over year to $4.3 billion in the second quarter, compared to $3.9 billion in the second quarter of 2024.
3. Following strong operating trends in the first half of 2025 and recent changes to Medicaid supplemental payment programs — including a new program in Tennessee and updates in other states — UHS has raised its full-year forecast. The system now forecasts 2025 net revenues between $17.096 billion and $17.312 billion, a slight increase from its original range of between $17.020 billion and $17.364 billion.
4. UHS’ acute care hospital business reported an operating income of $225.2 million (9.4% margin) on revenues of $2.4 billion in the second quarter, compared to $213.2 million (9.8% margin) on revenues of $2.2 billion in the prior-year period.
5. In the second quarter, on a same-facility basis, adjusted admissions at acute care hospitals rose 2% year over year and adjusted patient days increased 1.1%. Net revenue per adjusted admission grew 3.8%, and per adjusted patient day rose 4.7%, driving a 7.9% overall increase in acute care net revenues compared to the second quarter last year.
6. The health system’s behavioral business reported an operating income of $396.5 million (21.1% margin) on revenues of $1.9 billion in the second quarter, compared to $359.6 million (20.8% margin) on revenues of $1.7 billion in the second quarter of 2024.
7. In the second quarter, on a same-facility basis, adjusted admissions at UHS’ behavioral health facilities grew by 0.4% year over year and adjusted patient days increased 1.2%. Net revenue per adjusted admission grew 8.6% and per adjusted patient day rose 7.8%, resulting in an 8.9% year-over-year increase in total behavioral health net revenues for the quarter.
8. As of June 30, UHS had total assets of $15 billion and long-term debt of $4.5 billion.
9. UHS operates 29 inpatient acute care hospitals, 338 inpatient behavioral health facilities, 61 outpatient facilities and a health plan in 39 states, Washington, D.C., the United Kingdom and Puerto Rico.
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