UHS Q2 FY2026: revenue up 8.3%, EPS $5.98, guidance trimmed
UHS grew revenue 8.3% to $4.638 billion and diluted EPS 10.1% to $5.98, but missed the $6.02 consensus and trimmed full-year adjusted guidance. Read the quarter knowing that a $72 million net Florida Medicaid benefit inflated it, and that management assumes no repeat. Volumes rose on both sides of the business; the outlook did not.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $5.98 was up 10.1% from $5.43, but came in just under the $6.02 consensus estimate. There were no non-GAAP adjustments this quarter, so reported and adjusted EPS are the same number, which is cleaner than the year-ago period when $0.08 of adjustments were stripped out. Share count is doing real work here: weighted diluted shares fell to 59.910 million from 64.991 million.
Net revenue rose 8.3% to $4.638 billion from $4.284 billion a year earlier, split between $2.610 billion of acute care and $2.025 billion of behavioral health. On a same-facility basis, acute care revenue grew 8.2% and behavioral health 7.4%. The quarter also carried a $72 million net favorable pre-tax item — $100 million from the Florida Medicaid directed payment program, partly offset by a $28 million increase in the self-insured liability reserve — so the underlying trend is softer than the headline.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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