Filing Flows › Universal Health Services (UHS) › Q2 2026
Universal Health Services (UHS) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
Universal Health Services (UHS) reported revenue of $4.6B for the second quarter 2026 (Q2 2026), +8% from a year earlier and +3% from the quarter before. Operating margin was 11.1%, net earnings $358M (7.7% of revenue).
Universal Health Services, Q2 2026: revenue $4.6B (+8% year over year), operating margin 11.1%, net earnings $358M, operating cash flow $443M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6B | +3% | +8% |
| Operating profit | $517M | +3% | +3% |
| Net earnings | $358M | +3% | +1% |
| Operating cash flow | $443M | +10% | -19% |
| Free cash flow | $216M | +17% | -24% |
What changed
Revenue was $4.6B in Q2 2026, up 8% year over year and up 3% from the previous quarter. Managed Care was the largest line at 26% of revenue. Medicaid added $0.18B year over year (up 27%), 50% of the total change. Managed Care declined 2%.
Operating profit was $0.52B, a 11.1% margin (down 0.5 points year over year). Of the extra revenue versus Q2 2025, 5% reached operating profit, below the 12% margin then. Total costs grew 9% against revenue growth of 8%. Net earnings were $0.36B, up 1% year over year. The effective tax rate was 23.9%.
Operating cash flow was $0.44B (down 19% year over year), 122% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.11B. Capital expenditures of $0.23B left free cash flow of $0.22B.
Questions
What was Universal Health Services' revenue in the second quarter 2026?
Universal Health Services (UHS) reported revenue of $4.6B for the second quarter 2026 (Q2 2026), +8% from a year earlier and +3% from the quarter before.
Was Universal Health Services profitable in the second quarter 2026?
Operating profit was $517M (11.1% of revenue) and net earnings $358M.