US Physical Therapy Reports Q3 2026 Growth Driven by Record Patient Volumes and Hospital Affiliations
U.S. Physical Therapy (USPH) reported strong third-quarter 2026 results, highlighted by a 13% increase in total revenue to $223 million. The growth was primarily fueled by record patient volumes, which reached 1.68 million visits, and the rapid expansion of hospital affiliations, which now account for over 13% of total revenue. Despite facing significant headwinds from a $7 million increase in employee health insurance costs due to complex medical claims, the company achieved an adjusted physical therapy margin of 19%. Management reaffirmed its full-year EBITDA guidance of $102 million to $106 million, citing strong momentum and operational leverage. While GAAP EPS showed a loss due to noncontrolling interest valuations, adjusted EPS rose to $0.80 per share.
Tickers: $USPH
Topics: EBITDA guidance EPS physical therapy volume revenue growth