Outpatient physical therapy provider U.S. Physical Therapy (NYSE: USPH) will be announcing earnings results this Wednesday after the bell. Here’s what you need to know.
U.S. Physical Therapy beat analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $197.3 million, up 18% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
Is U.S. Physical Therapy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting U.S. Physical Therapy’s revenue to grow 15.9% year on year to $194.8 million, improving from the 12% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.66 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. U.S. Physical Therapy has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.3% on average.
Looking at U.S. Physical Therapy’s peers in the outpatient & specialty care segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Select Medical delivered year-on-year revenue growth of 7.2%, beating analysts’ expectations by 2.7%, and Encompass Health reported revenues up 9.4%, in line with consensus estimates. Select Medical traded down 2.7% following the results while Encompass Health was also down 7.1%.
Read our full analysis of Select Medical’s results here and Encompass Health’s results here.
Investors in the outpatient & specialty care segment have had steady hands going into earnings, with share prices flat over the last month. U.S. Physical Therapy is down 2.9% during the same time and is heading into earnings with an average analyst price target of $107 (compared to the current share price of $86.93).
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