US Physical Therapy (NYSE: USPH) reported Q3 EPS of $0.64, $0.06 better than the analyst estimate of $0.58. Revenue for the quarter came in at $1113.122 million versus the consensus estimate of $112.84 million.

Chris Reading, Chief Executive Officer, said, “I am extremely proud of our entire team of clinicians, partners and support staff for their efforts and results thus far this year. Summer is a traditionally slower time for us and yet by almost every measure we were able to produce meaningful improvement. We will continue our focused efforts to finish 2018 in a strong fashion while we work to support our partnerships and attract new opportunities in physical therapy as well as our industrial injury prevention services business.”

Larry McAfee, Chief Financial Officer, noted, “Despite having made two acquisitions in the past 12 months for total consideration of $16.4 million and having paid more than $11.3 million in dividends to shareholders, the Company’s net debt (debt minus cash) was reduced from $45.3 million as of September 30, 2017 down to $27.2 million as of September 30, 2018. Net cash flow from operations remains strong and the average age of the Company’s receivables at the end of the quarter was approximately 38 days.”

GUIDANCE:

US Physical Therapy sees FY2018 EPS of $2.50-$2.57, versus the consensus of $2.52.

For earnings history and earnings-related data on US Physical Therapy (USPH) click here.