Filing Flows › Universal Health Services (UHS) › Q1 2026
Universal Health Services (UHS) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Universal Health Services (UHS) reported revenue of $4.5B for the first quarter 2026 (Q1 2026), +10% from a year earlier and +0.2% from the quarter before. Operating margin was 11.2%, net earnings $349M (7.8% of revenue).
Universal Health Services, Q1 2026: revenue $4.5B (+10% year over year), operating margin 11.2%, net earnings $349M, operating cash flow $402M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.5B | +0.2% | +10% |
| Operating profit | $503M | -3% | +11% |
| Net earnings | $349M | -22% | +10% |
| Operating cash flow | $402M | -30% | +12% |
| Free cash flow | $184M | -37% | +52% |
What changed
Revenue was $4.5B in Q1 2026, up 10% year over year and roughly flat from the previous quarter. Managed Care was the largest line at 27% of revenue. Medicaid added $0.18B year over year (up 35%), 46% of the total change.
Operating profit was $0.50B, a 11.2% margin (up 0.1 points year over year). Of the extra revenue versus Q1 2025, 12% reached operating profit, above the 11% margin then. Total costs grew 10% against revenue growth of 10%. Net earnings were $0.35B, up 10% year over year. The effective tax rate was 23.5%.
Operating cash flow was $0.40B (up 12% year over year), 112% of net income including minority interests. Non-cash charges added back $0.16B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.13B. Capital expenditures of $0.22B left free cash flow of $0.18B.
Questions
What was Universal Health Services' revenue in the first quarter 2026?
Universal Health Services (UHS) reported revenue of $4.5B for the first quarter 2026 (Q1 2026), +10% from a year earlier and +0.2% from the quarter before.
Was Universal Health Services profitable in the first quarter 2026?
Operating profit was $503M (11.2% of revenue) and net earnings $349M.