Oct 24 (Reuters) - Hospital operator Universal Health Services reported on Thursday its third-quarter profit in line with Wall Street estimates, hurt by increased expenses, such as salaries and wages for its staff.
Shares of the company fell nearly 8% to $207 after the bell.
Expenses on salaries, wages and benefits rose 7% to $1.9 billion for the third quarter and overall operating charges rose 9.2% to $3.6 billion.
Quarterly same facility adjusted admissions increased by 1.5% at its acute care hospitals, while same facility adjusted admissions were up 2.2% at the behavioral health care facilities, as more patients sought medical care that required hospital stay.
Hospital operators have been benefiting from an uptick in demand for medical care, as older adults are catching up on surgeries delayed during the pandemic.
The King of Prussia, Pennsylvania-based company posted an adjusted profit of $3.71 per share for the quarter ended Sept. 30, compared with analysts' estimates of $3.70 per share, according to data compiled by LSEG.
Universal Health had previously forecast 2024 profit in the range of $15.40 to $16.20 per share and revenues of $15.57 billion to $15.75 billion.
(Reporting by Bhanvi Satija in Bengaluru; Editing by Mohammed Safi Shamsi)
((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91 9873062788;))
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。