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U S Physical Therapy (USPH) Q4 FY2023 earnings: revenue $155 million, up 9.6% on the year

U S Physical Therapy Inc. (USPH) reported revenue of $155 million for Q4 FY2023, the quarter ended 31 December 2023, up 9.6% on the same quarter a year earlier. Net income was $656,000, down 74.8% on the year, and diluted earnings per share $-0.38. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.

Revenue$155 millionup 9.6%
Net income$656,000down 74.8%
Diluted EPS$-0.38
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue155150n/an/a
Gross profit30.527.9n/an/a
Gross margin19.7%18.6%n/a
Selling, general and administrative13.912.0n/an/a
Operating income-0.915.9n/an/a
Operating margin-0.6%10.6%n/a
Pre-tax income0.115.8n/an/a
Income tax1.43.6n/an/a
Effective tax rate1319.8%22.5%n/a
Net income0.79.3n/an/a
Net margin0.4%6.2%n/a
Diluted EPS-$0.38$0.51n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow26.816.4n/an/a
Capital expenditure2.22.6n/an/a
Free cash flow24.613.8n/an/a
Free cash flow margin15.9%9.2%n/a
Cash from investing-8.4-16.9n/an/a
Cash from financing-13.3-12.5n/an/a
Depreciation and amortisation4.14.0n/an/a
Share-based compensation1.81.9n/an/a
Dividends paidn/a6.4n/an/a
Dividend per sharen/a$0.43n/an/a
Diluted shares, weightedn/a15mn/an/a
Shares outstanding at period end15m15mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity476492n/an/a
Non-controlling interest1.21.5n/an/a
Redeemable equity175175n/an/a
Debt147149n/an/a
Operating lease liabilities76.776.9n/an/a
Other liabilities122116n/an/a
Total liabilities and equity9971,010n/an/a
Fixed assets26.126.1n/an/a
Goodwill510523n/an/a
Intangible assets110112n/an/a
Cash and equivalents153148n/an/a
Receivables51.953.0n/an/a
Other assets147148n/an/a
Total assets9971,010n/an/a

Questions

What was U S Physical Therapy's revenue in Q4 FY2023?

U S Physical Therapy (USPH) reported revenue of $155 million for Q4 FY2023, the quarter ended 31 December 2023, up 9.6% on the same quarter a year earlier.

How much did U S Physical Therapy earn in Q4 FY2023?

Net income for Q4 FY2023 was $656,000, down 74.8% on the year, and the diluted loss per share $0.38.

When did U S Physical Therapy report Q4 FY2023 results?

U S Physical Therapy filed its 10-K for the year that ended with the quarter on 29 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue150155156167168180184197197203198214
Gross profit27.930.528.433.929.132.531.141.636.940.132.841.9
Gross margin19%20%18%20%17%18%17%21%19%20%17%20%
SG&A12.013.914.114.214.415.616.217.517.418.118.319.0
Operating income15.9-0.914.319.614.714.519.624.925.316.812.521.9
Operating margin11%-1%9%12%9%8%11%13%13%8%6%10%
Pre-tax income15.80.114.814.812.318.317.322.722.915.010.619.1
Tax rate23%1320%21%21%21%32%22%22%23%39%23%22%
Net income9.30.78.07.56.69.29.912.413.14.25.09.9
Net margin6%0%5%4%4%5%5%6%7%2%3%5%
Diluted EPS$0.51-$0.38$0.46$0.47$0.39$0.52$0.80$0.58$0.48n/a-$0.12$0.25
Operating cash flow16.426.84.429.022.119.4-4.734.919.924.93.834.4
Capital expenditure2.62.21.82.32.52.52.63.34.33.95.45.4
Free cash flow13.824.62.626.719.616.9-7.331.615.621.0-1.629.0
Dividends paid6.4n/an/an/a6.6n/an/an/a6.8n/an/an/a
Shares outstanding15m15m15m15m15m15m15m15m15m15m15m15m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 29 February 2024, accession 0001140361-24-010454: the filing on EDGAR. All of U S Physical Therapy Inc.'s filings: EDGAR company page.

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