Universal Health Services, Inc. (UHS) reported significant financial growth in its third quarter and year-to-date results for 2024, as detailed in its recent 10-Q filing. For the three months ended September 30, 2024, UHS achieved net revenues of $3.963 billion, an increase of 11.2% from $3.563 billion in the same period of 2023. The nine-month revenue also rose to $11.714 billion from $10.578 billion, reflecting a 10.7% increase. This growth was primarily driven by a $975 million increase in revenues from acute care hospital services and behavioral health services.

The company's income from operations for Q3 2024 was $384.2 million, up from $285.4 million in Q3 2023, while year-to-date income from operations reached $1.209 billion, compared to $844.2 million in the prior year. UHS reported a substantial increase in net income, with Q3 2024 net income at $265.9 million, a 58% rise from $168 million in Q3 2023. For the nine-month period, net income was $826.1 million, up from $499.7 million in 2023.

Earnings per share also saw a notable increase, with basic earnings per share for Q3 2024 at $3.89, compared to $2.42 in Q3 2023. Diluted earnings per share followed a similar trend, rising to $3.80 from $2.40.

UHS's financial position remains robust, with total assets increasing to $14.354 billion as of September 30, 2024, from $13.968 billion at the end of 2023. The company reported cash and cash equivalents of $106.1 million, down from $119.4 million at year-end 2023. Total debt decreased to approximately $4.7 billion, with a fair value of $4.4 billion, compared to $4.9 billion and $4.6 billion, respectively, at the end of 2023.

Strategically, UHS completed a public offering of $1 billion in senior secured notes in September 2024, which included $500 million due in 2029 and another $500 million due in 2034. The company also amended its credit agreement to extend the maturity date to September 2029 and increase its revolving credit facility to $1.3 billion.

In terms of operational challenges, UHS faced increased expenses, particularly in salaries, wages, and benefits, which rose by 4.6% in Q3 2024 compared to the same period in 2023. Other operating expenses also increased, reflecting inflationary pressures and staffing shortages.

UHS has not made any acquisitions in the nine months ended September 30, 2024, but reported $30 million from asset sales. The company declared dividends totaling $40.3 million for the nine-month period, slightly down from $42.2 million in 2023.

Overall, UHS's financial performance in 2024 demonstrates strong revenue growth and profitability, alongside strategic financial maneuvers to enhance its capital structure.