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U S Physical Therapy (USPH) Q2 FY2024 earnings: revenue $167 million, up 10.4% on the year

U S Physical Therapy Inc. (USPH) reported revenue of $167 million for Q2 FY2024, the quarter ended 30 June 2024, up 10.4% on the same quarter a year earlier. Net income was $8 million, down 31.3% on the year, and diluted earnings per share $0.47. The figures are the company's own, from the 10-Q it filed with the SEC on 14 August 2024.

Revenue$167 millionup 10.4%
Net income$8 milliondown 31.3%
Diluted EPS$0.47
QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Revenue167156n/an/a
Gross profit33.928.4n/an/a
Gross margin20.3%18.2%n/a
Selling, general and administrative14.214.1n/an/a
Operating income19.614.3n/an/a
Operating margin11.7%9.2%n/a
Pre-tax income14.814.8n/an/a
Income tax3.13.1n/an/a
Effective tax rate20.8%21.3%n/a
Net income7.58.0n/an/a
Net margin4.5%5.2%n/a
Diluted EPS$0.47$0.46n/an/a
$ million except per share.
Read moreFree 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

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Operating cash flow29.04.4n/an/a
Capital expenditure2.31.8n/an/a
Free cash flow26.72.6n/an/a
Free cash flow margin15.9%1.7%n/a
Cash from investing-28.3-20.5n/an/a
Cash from financing-20.1-4.5n/an/a
Depreciation and amortisation4.34.1n/an/a
Share-based compensation1.92.0n/an/a
Dividend per share$0.44$0.44n/an/a
Diluted shares, weighted15m15mn/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

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Shareholders' equity485480n/an/a
Non-controlling interest1.01.5n/an/a
Redeemable equity184191n/an/a
Debt145146n/an/a
Operating lease liabilities78.375.7n/an/a
Other liabilities129124n/an/a
Total liabilities and equity1,0231,017n/an/a
Fixed assets26.226.3n/an/a
Goodwill549534n/an/a
Intangible assets124117n/an/a
Cash and equivalents113132n/an/a
Receivables54.755.4n/an/a
Other assets156152n/an/a
Total assets1,0231,017n/an/a

Questions

What was U S Physical Therapy's revenue in Q2 FY2024?

U S Physical Therapy (USPH) reported revenue of $167 million for Q2 FY2024, the quarter ended 30 June 2024, up 10.4% on the same quarter a year earlier.

How much did U S Physical Therapy earn in Q2 FY2024?

Net income for Q2 FY2024 was $8 million, down 31.3% on the year, and diluted earnings per share $0.47.

When did U S Physical Therapy report Q2 FY2024 results?

U S Physical Therapy filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 14 August 2024.

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-Q for the period ended 30 June 2024, filed 14 August 2024, accession 0001140361-24-037313: the filing on EDGAR. All of U S Physical Therapy Inc.'s filings: EDGAR company page.

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