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UHS · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 8.3% y/y to $4.64B, operating margin 11.1% vs 11.7%, net income $358M (+1.5% y/y).
Net income attributable to UHS
$358M
up 1.5% y/y
Net revenues
$4,638M
up 8.3% y/y
Income from operations
$517M
up 3.3% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net revenues | $4,638 · +8.3% |
| Salaries, wages and benefits | $2,140 · +6.2% |
| Other operating expenses | $1,352 · +16.3% |
| Supplies expense | $423 · +1.1% |
| Depreciation and amortization | $167 · +10.1% |
| Lease and rental expense | $38.5 · +9.2% |
| Income from operations | $517 · +3.3% · 11.1% margin |
| Interest expense, net | $39.9 · +12.9% |
| Other (income) expense, net | $2.4 · −72.1% |
| Income before income taxes | $479 · +1.2% |
| Provision for income taxes | $115 · +3.4% · 23.9% effective rate |
| Less: Net income (loss) attributable to noncontrolling interests | $6.1 · −34.6% |
| Net income attributable to UHS | $358 · +1.5% · $5.98/sh · 7.7% margin |
Verdict: revenue grew 8.3% y/y to $4.64B, operating margin 11.1% vs 11.7%, net income $358M (+1.5% y/y).
Net income attributable to UHS was $358.4 million, or $5.98 per diluted share, vs $353.2 million, or $5.43.
Source and notation
Source: Universal Health Services press release, 8-K EX-99.1 of 07/28/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
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Chart: “UHS Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/uhs/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/uhs/q2-2026"><img src="https://whoreportstoday.com/t/uhs/q2-2026/sankey.png" alt="UHS Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/uhs/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/uhs/q2-2026">UHS Q2 2026 earnings chart (Who Reports Today)</a>
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- Results included a favorable net pre-tax impact of approximately $72 million: $100 million from the Florida Medicaid directed payment program, partly offset by a $28 million increase in the professional liability reserve.
- Operating income was $517M, a 11.1% margin vs 11.7% a year earlier.
- The effective tax rate was 23.9% vs 23.4% a year earlier.
- Diluted EPS was $5.98 vs $5.43 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
UHS — a hospital operator that runs acute care hospitals, outpatient and emergency facilities and behavioral health hospitals in the U.S., plus behavioral health facilities in the United Kingdom.
It makes money in two segments: Acute Care Hospital Services and Behavioral Health Care Services. · Source: annual report (Form 10-K, SEC)
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