USPH Reports Third Quarter 2026 Results, Record High Visits and Revenue Per Visit
Business Wire•04/11/2026•16:23 ET
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Key Highlights
- ➤Q3 revenue $223 million, up 13% year over year
- ➤Adjusted EBITDA $28 million, up from $24 million
- ➤Adjusted EPS $0.80, up from $0.66
- ➤Full-year 2026 adjusted EBITDA guidance reaffirmed at $102 million-$106 million
- ➤Hospital-affiliated clinics generated $25 million Q3 revenue after integration
Expert Statements
Chris Reading, Chairman and Chief Executive Officer of U.S. Physical Therapy
“We are pleased with the strong financial performance delivered in the third quarter 2026. The year-over-year EBITDA improvement reflects the initial benefit of the completed rollout of our first two hospital affiliations. The 72 clinics operating under hospital affiliation agreements generated $25 million in revenue in Q3, and we expect this number to increase significantly as referral volumes rise, additional clinics are incorporated into existing agreements, and our pipeline of hospital prospects results in new affiliations.”
Chris Reading, Chairman and Chief Executive Officer of U.S. Physical Therapy
“Cost pressures from our self-insured employee medical program continued in Q3. As a result, we implemented expense control efforts that partially mitigated these overages during the quarter and will benefit future periods. I want to thank our partners, clinicians, and support staff for their efforts on all fronts as we work to close out 2026, accelerate into 2027, and provide the outstanding patient service for which we are known.”
USPH Reports Third Quarter 2026 Results, Record High Visits and Revenue Per Visit
U.S. Physical Therapy, Inc. (“USPH” or the “Company”) (NYSE, NYSE Texas: USPH), a national operator of outpatient physical therapy clinics and provider of industrial injury prevention services (“IIP”), today reported results for the three and nine months ended September 30, 2026.
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