Universal Health Services, Inc. Reports 2017 Fourth Quarter And Full Year Earnings And 2018 Guidance

Thursday, March 1, 2018 General News
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Consolidated Results of Operations, As Reported and As Adjusted - Three-month periods ended December 31, 2017 and 2016:

Universal Health Services, Inc.

Supplemental Non-GAAP Disclosures

2018 Operating Results Forecast

(in thousands, except per share amounts)

Forecast For The Year Ending December 31, 2018

% Net

% Net

Low

revenues

High

revenues

Net revenues

$10,923,000

$11,063,000

Adjusted net income attributable to UHS (a) (b)

$864,409

$924,859

 Depreciation and amortization

472,148

472,148

 Interest expense

155,421

155,421

 Provision for income taxes (b)

266,129

284,739

EBITDA (a) (c)

1,758,107

16.1%

1,837,167

16.6%

Adjusted net income attributable to UHS, per diluted share (a) (b)

$9.25

$9.90

Shares used in computing diluted earnings per share

93,394

93,394

(a) The 2018 forecasted amounts exclude the impact of future items, if applicable, that are nonrecurring or non-operational in nature including items such as, but not limited to, the impact of gains/losses on sales of assets and businesses, costs related to extinguishment of debt, reserves for settlements, legal judgments and lawsuits, impairments of long-lived assets, impact of share repurchases that differ from included assumptions and other material amounts that may be reflected in our financial statements that relate to prior periods.  It is also subject to certain conditions including those set forth in the accompanying report in General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures.

(b) Excludes the impact on our provision for income taxes and net income attributable to UHS/per diluted share resulting from our January 1, 2017 adoption of ASU 2016-09, as discussed in the accompanying report.

(c) EBITDA is a non-GAAP financial measure.  To obtain a complete understanding of our financial performance, EBIDTA should be examined in connection with net income determined in accordance with GAAP as presented in the consolidated financial statements and notes thereto in this report or in our filings with the Securities and Exchange Commission including our Report on Form 10-K for the year ended December 31, 2017.



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