NYSE$USPH
US Physical Therapy Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Second quarter results reported with revenue increase, but net income and operating income decreased compared to the same period last year.
U.S. Physical Therapy reported a 10.8% increase in total revenue to $140.7 million for the second quarter of 2022, driven by growth in physical therapy operations and industrial injury prevention services. However, net income attributable to USPH shareholders decreased to $11.2 million, and operating income also saw a decrease.
- Operating Results per diluted share was $0.90, the second highest quarterly amount in the Company’s history.
- Adjusted EBITDA was $21.3 million.
- Net income attributable to shareholders was $11.2 million.
- Total revenue was $140.7 million, an increase of 10.8%.
Headline financials
Revenue & EPS history
US Physical Therapy · Revenue · Quarterly
$141M
Revenue by segment
US Physical Therapy · $119M total across 1 segment · Q2 2022
- Physical Therapy Operations$119M—100.0%
Forward guidance
Management expects Adjusted EBITDA for the full year of 2022 to be in the range of $73.5 million to $75.4 million and Operating Results to be in the range of $2.65 to $2.75 per share.
Tailwinds
- Company has $150 million of fixed debt which is currently expected to generate interest at a fixed rate of 4.665% for the remainder of the year.
- New credit facility gives more dry powder to use for acquisitions and other investments.
- Expect to close a number of deals before year’s end which should be very positive for 2023 and forward.
- Financing transaction completed in the second quarter, which was important to provide the capital needed for growth.
- Interest rate swap, which fixed the interest rate on $150 million of our debt for five years, provides certainty in the rising interest rate environment at a rate that we believe is favorable over the five-year period.
Headwinds
- Increases in the Company’s interest expense due to rising interest rates in the U.S.
- Impact of inflation on the Company’s wages and other costs which elevated during the second quarter and are expected to continue through the remainder of the year.
- Increasingly difficult operating environment
- Rising costs
- Costs will be higher than originally expected for the remainder of the year
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
-0.6%
Avg return
Earnings day
-0.5%
Avg return
5 days after
-1.3%
Avg return
30 days after
53%
35 / 66 earnings
Positive
+17.3%
Q3 2024
Best reaction
-27.5%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.5% | +1.3% | +7.5% | |
| Q4 2025 | -2.9% | +1.9% | -8.5% | |
| Q3 2025 | +0.9% | -15.8% | -13.8% | |
| Q2 2025 | +14.7% | +20.4% | +17.8% | |
| Q1 2025 | -0.1% | +8.8% | +8.9% | |
| Q4 2024 | -6.0% | -9.5% | -18.0% | |
| Q3 2024 | +17.3% | +14.8% | +17.9% | |
| Q2 2024 | -6.8% | -3.9% | -5.4% | |
| Q1 2024 | -2.2% | +0.2% | -8.0% | |
| Q4 2023 | +3.4% | +2.8% | +9.8% | |
| Q3 2023 | -2.8% | -3.3% | +4.3% | |
| Q2 2023 | -8.6% | -8.1% | -19.8% | |
| Q1 2023 | +4.5% | +10.1% | +2.1% | |
| Q4 2022 | +2.1% | +2.2% | -5.7% | |
| Q3 2022 | -8.9% | -4.0% | -0.3% | |
| Q2 2022 | -27.5% | -29.9% | -37.0% | |
| Q1 2022 | -4.4% | -4.1% | +4.2% | |
| Q4 2021 | -5.8% | -6.5% | -2.1% | |
| Q3 2021 | -3.6% | -8.2% | -21.6% | |
| Q2 2021 | -3.6% | -5.4% | -1.1% | |
| Q1 2021 | +6.0% | +4.5% | +6.6% | |
| Q4 2020 | -17.2% | -19.8% | -24.3% | |
| Q3 2020 | +8.4% | +26.6% | +29.2% | |
| Q2 2020 | +2.4% | +1.1% | +3.7% | |
| Q1 2020 | -1.0% | +2.7% | +0.9% | |
| Q4 2019 | -17.7% | -16.0% | -49.0% | |
| Q3 2019 | -20.1% | -20.4% | -20.5% | |
| Q2 2019 | +3.9% | +6.1% | +8.1% | |
| Q1 2019 | +2.3% | +3.3% | -1.2% | |
| Q4 2018 | +3.2% | +3.4% | +2.1% | |
| Q3 2018 | +5.1% | +6.5% | +10.7% | |
| Q2 2018 | +8.9% | +7.0% | +18.9% | |
| Q1 2018 | -1.4% | -0.5% | +2.4% | |
| Q4 2017 | +6.8% | +2.7% | +4.9% | |
| Q3 2017 | -2.6% | -2.9% | +5.7% | |
| Q2 2017 | +2.4% | +2.6% | -2.9% | |
| Q1 2017 | -6.0% | +0.8% | -2.1% | |
| Q4 2016 | +1.7% | +2.0% | -1.2% | |
| Q3 2016 | -1.2% | +0.5% | +14.3% | |
| Q2 2016 | +4.7% | +4.0% | +9.7% | |
| Q1 2016 | +12.7% | — | — | |
| Q4 2015 | +1.2% | — | — | |
| Q3 2015 | +2.3% | — | — | |
| Q2 2015 | -5.0% | — | — | |
| Q1 2015 | +7.9% | — | — | |
| Q4 2014 | +5.4% | — | — | |
| Q3 2014 | -7.2% | — | — | |
| Q2 2014 | +5.8% | — | — | |
| Q1 2014 | +3.0% | — | — | |
| Q4 2013 | -0.3% | — | — | |
| Q3 2013 | -7.1% | — | — | |
| Q2 2013 | +6.0% | — | — | |
| Q1 2013 | +3.5% | — | — | |
| Q4 2012 | -4.6% | — | — | |
| Q3 2012 | +0.6% | — | — | |
| Q2 2012 | +0.6% | — | — | |
| Q1 2011 | +1.0% | — | — | |
| Q1 2012 | +2.1% | — | — | |
| Q4 2009 | -0.2% | — | — | |
| Q4 2011 | -0.2% | — | — | |
| Q3 2011 | +1.9% | — | — | |
| Q3 2010 | +1.9% | — | — | |
| Q2 2010 | -10.9% | — | — | |
| Q2 2011 | -10.9% | — | — | |
| Q4 2010 | -10.9% | — | — | |
| Q1 2010 | +12.8% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro