King of Prussia, Pa.-based Universal Health Services saw its revenue, operating income and profit grow in the second quarter of 2021, compared to the same period last year, according to a July 26 financial report.
The for-profit hospital operator recorded revenues of $3.2 billion in the second quarter of this year, up 17.1 percent compared to the same period in 2020.
After factoring in operating expenses totaling about $2.8 billion, UHS recorded an operating income of $439 million in the quarter ending June 30. In the same quarter last year, UHS recorded an operating income of $358 million.
The hospital operator ended the second quarter of 2021 with a $325 million profit, up 29 percent from the $251.9 million recorded in the same quarter last year.
UHS also authorized a $1 billion increase to its previously announced stock repurchase program. The health system will increase the amount it will buy back to $3.7 billion, up from $2.7 billion. Since the program began in 2014, UHS has repurchased 20 million shares for $2.5 billion.