Feb 26 (Reuters) - Hospital operator Universal Health
Services ( UHS ) beat fourth-quarter profit estimates on
Wednesday, driven by robust demand for medical care that
required hospital stays.
Shares of the company were up 3.8%, at $187, in
after-hours trading.
Hospital operators have been benefiting from an uptick in
demand for medical care, as older adults catch up on surgeries
delayed during the pandemic.
Same facility adjusted admissions increased by 2.2% at acute
care hospitals in the fourth quarter, while same facility
adjusted admissions grew by 2% at behavioral health care
facilities.
On an adjusted basis, the company reported a profit of $4.92
per share for the quarter ended December 31, beating analysts'
estimates of $4.18 per share, according to data compiled by
LSEG.
The Pennsylvania-based company forecast its annual revenue
to be in the range of $17.02 billion to $17.36 billion, above
estimates of $16.72 billion.
Larger peer HCA Healthcare ( HCA ) also forecast 2025 profit
above estimates due to elevated demand for medical procedures
and lower costs.
Universal Health Services ( UHS ) operates 28 inpatient acute care
hospitals, 331 inpatient behavioral health facilities and other
facilities across 39 states.