UHS sees jump in net income, ups reserve for DOJ investigation to $43M

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

Here are five things to know about UHS' financial results:

1. UHS' revenues increased 2.6 percent year over year to $2.7 billion in the quarter ended June 30, 2018.

2. The revenue growth was partially due to increased patient admissions. Admissions when adjusted for outpatient activity increased 1.9 percent on a same-facility basis in the second quarter of 2018 compared to the same period of the year prior. At UHS' behavioral healthcare facilities, adjusted admissions increased 1.2 percent on a same-facility basis year over year.

3. UHS saw expenses increase from $2.3 billion in the second quarter of 2017 to $2.4 billion in the second quarter of 2018.

4. In the second quarter of this year, UHS said it added $9.5 million to its reserve for an ongoing investigation into its behavioral health facilities by the Department of Justice. The reserve now totals about $43 million.

"Changes in the reserve may be required in future periods as discussions with the DOJ continue and additional information becomes available," UHS said in an earnings release. "We cannot predict the ultimate resolution of this matter and therefore can provide no assurance that final amounts paid in settlement or otherwise, if any, or associated costs, will not differ materially from our established reserve."

5. UHS ended the second quarter of 2018 with net income of $226.1 million, compared to $185.4 million in the same period of the year prior.

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