US Physical Therapy Q2 revenue rises on higher patient volume

US Physical Therapy

05/08/2026 22:07

Overview
US outpatient therapy operator's Q2 revenue rose 8.5% yr/yr
Adjusted EBITDA for Q2 was nearly flat yr/yr at $27 mln
Company repurchased $19.2 mln in shares during Q2 2026

Outlook
US Physical Therapy reaffirms 2026 full-year adjusted EBITDA guidance of $102.0 mln to $106.0 mln
Company expects integration of remaining hospital affiliated clinics in Q3 2026 to boost revenue and margins
USPH expects initiatives to accelerate adjusted EBITDA improvement in H2 2026 and propel growth into 2027

Result Drivers
PATIENT VOLUME - Higher patient visits and increased average daily visits per clinic contributed to revenue growth
HOSPITAL AFFILIATIONS - Integration of clinics into hospital partnerships added to revenue and is expected to support future margin improvement
MARGIN PRESSURE - Physical therapy margins declined due to higher company-provided health benefit costs

Company press release: ID:nBw7dYJxLa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EBITDA
 
$27 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the healthcare facilities & services peer group is "buy"
Wall Street's median 12-month price target for US Physical Therapy Inc is $96.00, about 26.5% above its August 4 closing price of $75.86
The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 24 three months ago

Reuters Recommended Reads
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Aug 4 - AdaptHealth Q2 revenue misses estimates

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)