Filing Flows › Universal Health Services (UHS) › Q3 2026 › vs Q2 2026
Universal Health Services (UHS) Q3 2026 vs Q2 2026 (quarter over quarter)
Universal Health Services's revenue rose $95.3M (+2%) from $4.6B in Q2 2026 to $4.7B in Q3 2026. The biggest changes: Other Patient Revenue and Adjustments Net +$51.1M (+16%); Other Non Patient Revenue −$43.2M (-12%); Managed Care +$32.3M (+3%). Operating margin 9.6% against 11.1% (-1.5 pts).
Universal Health Services, Q3 2026: revenue $4.7B (+5% year over year), operating margin 9.6%, net earnings $309M, operating cash flow $637M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 9.6% | 11.1% | -1.5 pts |
| Net margin | 6.5% | 7.7% | -1.2 pts |
| Free cash flow margin | 8.9% | 4.7% | +4.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Managed Care | $1.2B | $1.2B | $32.3M | +3% |
| Medicaid | $798M | $820M | −$22.5M | -3% |
| Managed Medicaid | $655M | $654M | $846K | +0.1% |
| Managed Medicare | $576M | $549M | $27.7M | +5% |
| Medicare | $498M | $479M | $19.4M | +4% |
| Other Patient Revenue and Adjustments Net | $362M | $311M | $51.1M | +16% |
| Other Non Patient Revenue | $311M | $355M | −$43.2M | -12% |
| UK Revenue | $299M | $269M | $29.8M | +11% |
| Revenue | $4.7B | $4.6B | $95.3M | +2% |
| Operating profit | $454M | $517M | −$62.2M | -12% |
| Costs & expenses | $4.3B | $4.1B | $158M | +4% |
| Pre-tax earnings | $414M | $479M | −$65.2M | -14% |
| Other expense, net | $40.5M | $37.5M | $3.0M | +8% |
| Net earnings | $309M | $358M | −$49.8M | -14% |
| Minority interests | $4.6M | $6.1M | −$1.5M | -24% |
| Income tax | $101M | $115M | −$14.0M | -12% |
| Depreciation & amortization | $175M | $167M | $7.5M | +4% |
| Share-based compensation | $26.4M | $22.9M | $3.5M | +15% |
| Working capital & other | $127M | −$105M | $232M | — |
| Operating cash flow | $637M | $443M | $193M | +44% |
| Free cash flow (OCF − capex) | $422M | $216M | $206M | +95% |
| Capital expenditures | $215M | $228M | −$12.7M | -6% |
Questions
How much did Universal Health Services's revenue grow quarter over quarter in Q3 2026?
Universal Health Services's revenue rose $95.3M (+2%) from $4.6B in Q2 2026 to $4.7B in Q3 2026.
What drove Universal Health Services's revenue change in Q3 2026?
Other Patient Revenue and Adjustments Net +$51.1M (+16%); Other Non Patient Revenue −$43.2M (-12%); Managed Care +$32.3M (+3%).