U S PHYSICAL THERAPY INC /NV — Form 8-K
Filed August 6, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 48/100
What the filing says
USPH reported Q2 2026 total net revenue of $214.1M (+8.5% YoY). Net income attributable to shareholders declined to $9.9M from $12.4M due to $8.3M revaluation of redeemable noncontrolling interests (diluting EPS from $0.58 to $0.25). Adjusted EBITDA of $27.0M was flat vs. prior year. Company completed integration of 31 clinics into hospital affiliations (NYU Langone Metro subsidiary and Gulf Coast partnership); remaining 39 clinics expected in Q3. Made three acquisitions totaling $37.6M with $27.0M annualized revenue (including $16.4M for 67% of 12-clinic PT practice on July 1). Reaffirmed full-year adjusted EBITDA guidance of $102–106M. PT margins compressed 170 bps to 19.5% (21.2% adjusted for one-time health benefit costs). Clinic count 781 as of June 30 (net +3 in Q2).
Why this rating
Mixed results: revenue growth solid but modest; GAAP net income down due to partner revaluation (non-cash but dilutive to EPS); adjusted EBITDA flat; margins under pressure. Hospital integration is strategic but near-term execution risk. M&A modest relative to $737M market cap. Guidance reaffirmation is neutral.
See more from August 6, 2026.
EDGAR·FLOW summarizes public SEC EDGAR filings with automated analysis. Materiality scores and stock-impact predictions are algorithmically generated and are not investment advice. Always verify against the source filing on SEC.gov.