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
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
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
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"
USPH•
