King of Prussia, Pa.-based Universal Health Services saw revenues and net income increase in the first quarter of 2019.
Five things to know:
1. UHS' revenues increased 4.3 percent year over year to $2.8 billion in the first quarter of 2019.
2. The company's acute care hospitals and behavioral healthcare facilities contributed to the revenue growth. Revenues from UHS' acute care services were up 4.7 percent year over year in the first quarter of 2019, while revenues from behavioral healthcare services climbed 3 percent.
3. UHS saw expenses increase from $2.35 billion in the first quarter of 2018 to $2.46 billion in the same period of 2019.
4. In the first quarter of 2019, the company did not make any changes to its reserve for an ongoing investigation into its behavioral health facilities by the Department of Justice. The reserve totals about $123 million, which includes $31.9 million added in the fourth quarter of last year.
"Changes in the reserve may be required in future periods as discussions with the Department of Justice continue and additional information becomes available," UHS said in an earnings release.
5. UHS ended the first quarter of 2019 with net income of $234.17 million, compared to $223.83 million in the same period a year earlier.
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