- Universal Health Services ( NYSE: UHS ) stock drops 9% in the premarket trading, Thursday, after the company lowered its annual financial outlook due to "unfavorable operating trends" recorded in the last two months.
- Q2 2022 Guidance: Non-GAAP EPS expected to range between $2.05-$2.15,
- Reduced FY 2022 Guidance: Revenue is now projected to range between $13.23-$13.37B, vs. prior outlook of $13.42-$13.69B, vs. consensus of $13.49B.
- Adjusted EBITDA is expected to be between $1.63B-$1.71B; Non-GAAP EPS of $9.60-$10.40, representing decreases of 19.3% from prior outlook of $11.90-$12.90, vs. consensus of $11.70.
- "The lower than expected earnings projected for the second quarter of 2022 was due primarily to lower than expected patient volumes, revenues and income generated at our acute care hospitals. During April and May of 2022, our acute care hospitals experienced a significant decline in COVID-related patients, as compared to the first quarter of 2022," the company said. "The decrease in COVID-related patient volumes during the second quarter of 2022 was not offset by an equivalent increase in non-COVID-related patients resulting in significant shortfalls in revenues and earnings as compared to our original forecasts for that period."
- Earlier: U.S. Supreme Court rules in favor of hospitals on Medicare reimbursement
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Universal Health Services slides after firm cuts FY2022 guidance over lower patient volumes