EarningsQ2 2026 Earnings Report
MX:UHS Q2 2026 EPS Results
Actual EPS$108.60
Consensus EPS$107.87
Beat/MissBeat by +$0.73
One Year Ago EPS$97.16
MX:UHS Q2 2026 Revenue Results
Actual Revenue$84.23B
Expected Revenue$83.16B
Beat/MissBeat by +$1.07B
YoY Revenue Growth+8.27%
Earnings Announcement Details
QuarterQ2 2026
Date07/27/2026
TimeAfter Close
Conference CallMonday, July 27, 2026
MX:UHS Upcoming Earnings
Universal Health's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:UHS Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mixture of solid operational progress and clear strategic initiatives (EPS and EBITDA growth, new capacity additions, Joint Commission accreditation, Talkspace acquisition, active share repurchases, and continued rate and revenue per unit growth) alongside multiple material near-term headwinds (out-of-period supplemental benefits masking underlying shortfalls, higher liability reserves, de novo ramp delays, a recertifying Texas behavioral facility with ongoing losses, a steep drop in operating cash flow, and a trimmed EBITDA outlook). Management retained a constructive long-term view and updated guidance still shows growth, but several one-time and structural challenges are weighing on near-term results and cash flow.Company Guidance
Adjusted EPS Growth
Adjusted EPS of $5.98 in Q2 2026, representing 12% year-over-year growth.
Adjusted EBITDA Growth
Adjusted EBITDA less NCI of $678 million in Q2 2026, up 5% year-over-year (note: includes a $100 million out-of-period Florida DPP benefit).
Revenue and Rate Growth — Acute Care
Same-facility acute care net revenue increased 8.2% in Q2 2026 (5.9% excluding health plan impact); revenue per adjusted admission rose 3.0% (2.7% after excluding out-of-period Medicaid supplemental benefits).
Behavioral Health Financial Performance
Behavioral health same-facility net revenue up 7.4%; revenue per adjusted patient day up 6.1%; same-facility behavioral EBITDA increased 9.0% in Q2 2026 (5.7% excl. out-of-period benefits).
Volume Recovery and Demand Trends
Same-facility acute care adjusted admissions increased 2.9% year-over-year; same-facility ED visits increased ~4%; sequential improvement in volumes and broadened geographic recovery.
Capacity Expansion and New Hospital Opening
Added 177 licensed beds across 3 hospitals in Q2 (a ~2.5% increase in same-facility bed capacity). Opened Alan B. Miller Medical Center (Palm Beach Gardens, FL) in May and achieved Joint Commission accreditation in July.
Strategic Acquisition to Expand Outpatient Behavioral Reach
Talkspace acquisition expected to close mid-August 2026 to add virtual outpatient capabilities and create a more complete end-to-end behavioral health continuum (6,000+ therapist panel cited as a scale benefit).
Capital Allocation — Share Repurchases and Balance Sheet Strength
Share repurchases accelerated to $320 million in Q2 (1.89M shares); net leverage at 1.8x with $1.27 billion revolving borrowing capacity remaining and $978 million repurchase authorization available as of 6/30/2026.
Expense Management Wins
Acute same-facility supply expense per adjusted admission decreased 2.5% year-over-year; acute salaries/wages/benefits per adjusted admission up only 2.7%; contract labor represented 2.5% of acute revenue (20 bps lower YoY).
Updated 2026 Growth Guidance
Updated full-year guidance centered at ~7% revenue growth, ~3% EBITDA less NCI growth, and ~6% EPS growth at the midpoint, indicating continued growth despite headwinds.
MX:UHS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed