NYSE$USPH

US Physical Therapy Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

USPH reported mixed results due to macroeconomic headwinds and goodwill impairment. However, patient volume remained strong and dividend was raised.

U.S. Physical Therapy reported an increase in revenue but a decrease in net income for Q4 2022. Revenue increased by 8.7% compared to Q4 2021, while net income decreased due to a goodwill impairment charge. The company's Board of Directors raised the quarterly dividend by 4.9%.

  • Net patient revenue from physical therapy operations increased by 5.8% to $120.1 million.
  • Total patient visits increased by 5.1% to 1,152,139.
  • Average visits per clinic per day were 29.1.
  • IIP services revenue increased 37.6% to $18.4 million.

Headline financials

Total Revenue

$141M

Previous: $130M+8.7%
EPS (adj)

$0.58

Previous: $0.72-19.4%
Total Patient Visits

1.2M

No prior period
Net Rate per Visit

$104.28

Previous: $103.53+0.7%
Net Income

$2.6M

Previous: $14.4M-82.0%
Operating Income

$6.79M

Previous: $16.5M-58.7%
Gross Profit

$27.8M

Previous: $27.2M+2.4%
Cash & Equivalents

$31.6M

Previous: $28.6M+10.6%
Total Assets

$858M

Previous: $749M+14.5%
Stock-Based Comp

$1.8M

Previous: $1.59M+13.5%

Revenue & EPS history

US Physical Therapy · Revenue · Quarterly

$141M

Q4 2022+8.7%vs Q4 2021
Beat estimate in 8 of 14 quarters(57%)
ActualEstimate

Revenue by segment

US Physical Therapy · $121M total across 1 segment · Q4 2022

  • Physical Therapy Operations
    $121M+6.0%

Forward guidance

Management expects Adjusted EBITDA for 2023 to be in the range of $75.0 million to $80.0 million.

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 Q4 2022

Historical avgQ4 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

Earnings price reactions
QuarterReport dateReaction (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%

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