It's been a good first quarter for hospital company Universal Health Services, which saw a substantial jump in net earnings over the same quarter last year. UHS's net income climbed 24.6 percent for the first quarter, to $61.7 million, up from $49.5 million in the same period last year. Not only that, the company has raised its earnings forecast for the year from $3.70 per share to $3.80 per share, up from $3.37 to $3.42 per share.
All of this happened despite the company having lost four hospitals to Hurricane Katrina in 2005. The hospitals got some financial help from a patient influx driven by a harsh flu season, as well as expanded capacity in its behavioral hospitals and improved insurance reimbursement.
To learn more about Universal's performance:
- read this Philadelphia Inquirer piece
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