Universal Health Services Lifts FY Outlook, Authorizes $1 Bln Stock Buyback; Shares Up 6%

(RTTNews) - While reporting financial results for the second quarter on Wednesday, Universal Health Services, Inc. (UHS) increased its full-year 2024 operating results forecast and announced a $1 billion increase to its stock repurchase program authorization. Shares of the company gained over 6% following the news.

Looking forward to the full year 2024, the company now expects revenues of $15.565 billion to $15.753 billion and adjusted earnings of $15.40 to $16.20 per share.

Previously, the company expected revenues of $$15.411 billion to $15.706 billion and adjusted earnings of $13.00 to $14.00 per share.

Analysts polled by Thomson Reuters currently expect earnings of $13.79 per share and revenues of $15.59 billion for the year.

Further, the company said that its Board of Directors authorized a $1.0 billion increase to the stock repurchase program.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com