Universal Health (UHS) Tops Q2 EPS by $2.21

Universal Health (NYSE: UHS) reported Q2 EPS of $2.95, $2.21 better than the analyst estimate of $0.74. Revenue for the quarter came in at $2.73 billion versus the consensus estimate of $2.45 billion.

• Included in our reported and adjusted net income attributable to UHS during the three-month period ended June 30, 2020 was approximately $161.9 million, or $1.90 per diluted share, resulting from the recognition of approximately $218 million of net revenues recorded in connection with various governmental stimulus programs, most notably the Public Health and Social Services Emergency Fund grants, as provided for by the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). Approximately $157 million of the governmental stimulus program net revenues were attributable to our acute care services and approximately $61 million were attributable to our behavioral health care services.

For earnings history and earnings-related data on Universal Health (UHS) click here.

You May Also Be Interested In

• IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
• STMicroelectronics cuts outlook as slower demand causes Q1 miss
• Amerant Bancorp Inc. (AMTB) Misses Q1 EPS by 5c