Universal Health Services (NYSE:UHS) has announced a significant improvement in its financial results for the first quarter of 2024.
The company's net income attributable to UHS surged to $261.8 million, or $3.82 per diluted share, up from $163.1 million, or $2.28 per diluted share, in the same period last year.
Total net revenues also experienced robust growth, increasing by 10.8% to $3.844 billion from $3.468 billion in the first quarter of 2023.
In terms of operational metrics, Universal Health Services reported positive trends on a same-facility basis for both its acute and behavioral health care services.
Acute care services registered a 4.5% increase in adjusted admissions and a notable 9.6% increase in net revenues.
Meanwhile, behavioral health care services achieved a 10.4% rise in net revenues, although adjusted admissions slightly declined by 0.8%.
Following the quarters performance, Universal Health Services reaffirmed its dedication to improving healthcare services and expanding its reach.