King of Prussia, Pa.-based Universal Health Services recorded an operating income of $516.7 million (11.1% operating margin) during the second quarter of 2026, compared to an operating income of $500.3 million (11.7% margin) during the same period last year, according to its July 27 financial report.
Eight things to know:
1. UHS reported a net income of $364.6 million during the three months ended June 30, up from $362.6 million during the same period last year.
2. The for-profit system recorded net operating revenue of $4.6 billion in Q2 2026, up from $4.3 billion during the same period last year.
3. Total operating expenses were $4.1 billion in Q2 2026, up from $3.8 billion during the same period last year. Salaries, wages and benefits totaled $2.1 billion, up from $2 billion. Supply expenses totaled $423.3 million, up from $418.8 million.
4. The quarter’s results included a net favorable pre-tax impact of about $72 million: a $100 million benefit (net of related provider taxes) tied to the Florida Medicaid program covering October 2024 through September 2025, partially offset by a $28 million increase to the system’s reserve for self-insured professional and general liability claims.
5. UHS’ acute care hospital business reported an operating income of $228 million (8.7% margin) on revenues of $2.6 billion in Q2, compared to $225.8 million (9.4% margin) on revenues of $2.4 billion during the same period last year.
6. The system’s behavioral health business reported an operating income of $411.1 million (20.3% margin) on revenues of $2.0 billion in the second quarter, compared to $395.9 million (21.1% margin) on revenues of $1.9 billion in the second quarter of 2025.
7. UHS revised its full-year operating results forecast. The system is now projecting net operating revenue between $18.501 billion and $18.762 billion, an increase of 0.2% as compared to the midpoint of its original forecast.
The system is now projecting adjusted EBITDA between $2.61 billion and $2.717 billion, a 1.9% decrease as compared to the midpoint of its original forecast.
8. UHS operates 30 inpatient acute care hospitals, 346 inpatient behavioral health facilities, about 170 outpatient and other facilities, a health plan and a physician network in 40 states, Washington, D.C., Puerto Rico and the United Kingdom.
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