KING OF PRUSSIA, PA — Universal Health Services, Inc. (NYSE: UHS) closed out 2024 with record-breaking financial results, demonstrating strong growth across its operations. The company reported a 10.8% increase in net revenues for the year, reaching $15.8 billion compared to $14.3 billion in 2023. Net income attributable to UHS surged to $1.142 billion, up from $717.8 million the previous year, representing a 59% jump.
Earnings per diluted share also showed significant improvement, climbing to $16.82 in 2024 from $10.23 in 2023. Adjusted EBITDA for the year rose to $2.246 billion, up 29% from $1.742 billion in 2023, underscoring strong operational efficiency.
Q4 2024 Snapshot
During the fourth quarter, UHS reported $4.114 billion in net revenues, an 11.1% increase from Q4 2023. Net income for the quarter rose to $332.4 million, or $4.96 per diluted share, compared to $216.4 million, or $3.16 per diluted share, during the same period in the prior year. Adjusted EBITDA for the fourth quarter reached $614.6 million, reflecting a year-over-year increase of nearly 30%.
Acute and Behavioral Health Operations
The company’s acute care and behavioral health facilities delivered solid performance in 2024. At its acute care hospitals, net revenues on a same-facility basis rose by 8.5% for the year, powered by a 2.9% increase in adjusted admissions and a 6.3% rise in revenue per adjusted patient day.
Behavioral health services also proved to be a key growth driver, with same-facility net revenues increasing by 10.7% for the year. Adjusted admissions rose by 0.7%, while adjusted patient days increased by 1.7%. Revenue per adjusted admission and adjusted patient day climbed by 9.8% and 8.8%, respectively.
Cash Flow and Stock Repurchase Program
UHS reported $2.067 billion in net cash provided by operating activities in 2024, marking a $799 million increase from 2023. The improved cash flow reflects operational gains, enhanced receivables management, and favorable changes in working capital.
The company also actively executed its stock repurchase program, buying back 2.98 million shares during 2024 at a total cost of approximately $598.5 million. This reflects an average price of $201 per share. Remaining authorization for repurchase stands at $824.4 million as of year-end 2024.
Optimistic 2025 Outlook
For 2025, UHS forecasts continued growth, projecting net revenues between $17 billion and $17.36 billion. Adjusted EBITDA is expected to range from $2.357 billion to $2.484 billion, representing up to a 10.6% increase over 2024. Earnings per diluted share are anticipated to land between $18.45 and $19.95, marking up to a 20% improvement year-over-year.
UHS’s strong financial performance and optimistic outlook underline the company’s resilience and operational effectiveness across its acute and behavioral health care services. With a growing footprint and strategic focus on delivering value to shareholders and stakeholders alike, the company remains well-positioned for sustained success.
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