Short answer
Universal Health Services (UHS) filed its Q3 2025 10-Q quarterly report on Nov 7, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $4.5B (up 13.4% year over year) with net income of $373M.
Q3 2025 key financials · XBRL
- Revenue
- $4.5B
- +13.4% YoY · +4.9% QoQ
- Net income
- $373M
- +44.2% YoY · +5.6% QoQ
- Operating margin
- 11.6%
- EPS (diluted)
- $5.84
- +53.7% YoY · +7.6% QoQ
Source: XBRL data from the Universal Health Services (UHS) Q3 2025 10-Q on SEC EDGAR. USD.
Universal Health Services Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Q3 revenue $4.495B, up 13.4% YoY from $3.963B; 9M revenue $12.879B, up 9.9% YoY from $11.714B
- Operating margin Q3 11.6% vs 9.7% YoY; 9M 11.5% vs 10.3% YoY; net income margin Q3 8.3% vs 6.5% YoY; 9M 8.1% vs 6.9% YoY
- Best segment: Acute Care Hospitals Q3 income before tax margin 13.9% vs 9.5% YoY; Worst: Newly opened Cedar Hill Medical Center loss of $47M YTD
- Operating cash flow affected by $18M legal reserve and $35M increase in liability reserves for professional/general liability claims in Q3
- Management flags inflationary pressures, Medicaid revenue risks from new legislation reducing enrollment and provider tax limits, plus tariff uncertainties and government shutdown risk
Risk Factors
- New statutory Medicaid eligibility and funding limits from One Big Beautiful Bill Act (enacted July 4, 2025) may reduce revenue and increase uncompensated care
- Legal risk increased: $18M reserve for Pinnacle litigation verdict and $47M pre-tax loss at new Cedar Hill hospital affect Q3 results
- Regulatory risk: Medicaid supplemental payment programs face potential $420-470M annual net benefit reduction by 2032 due to federal OBBBA limits on provider taxes and SDP payments
- Market risk: Inflationary pressures persist on personnel costs (+4.6% acute care wages Q3 YoY) and supply expenses (+3.5%), despite some recent moderation
- Financial risk: Interest expense declined $33M YoY for nine months through Sep 2025, aiding free cash flow amid elevated borrowing rates
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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