$USPH
U S PHYSICAL THERAPY INC /NV

2024 Q3 Form 10-Q Financial Statement

#000114036124037313 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $168.0M $167.2M
YoY Change 12.02% 10.37%
Cost Of Revenue $135.5M $133.3M
YoY Change 10.95% 11.78%
Gross Profit $32.56M $33.86M
YoY Change 16.59% 5.14%
Gross Profit Margin 19.38% 20.25%
Selling, General & Admin $14.39M $14.25M
YoY Change 19.4% 17.32%
% of Gross Profit 44.18% 42.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.387M $4.514M
YoY Change 10.78% 17.95%
% of Gross Profit 13.47% 13.33%
Operating Expenses $14.39M $14.25M
YoY Change 19.4% 17.32%
Operating Profit $18.18M $19.61M
YoY Change 14.46% -2.24%
Interest Expense -$679.0K -$549.0K
YoY Change 579.0% -66.22%
% of Operating Profit -3.74% -2.8%
Other Income/Expense, Net -$1.731M -$4.818M
YoY Change 1597.06% 398.24%
Pretax Income $12.34M $14.80M
YoY Change -21.82% -22.52%
Income Tax $2.559M $3.083M
% Of Pretax Income 20.74% 20.84%
Net Earnings $5.811M $7.506M
YoY Change -37.21% -31.26%
Net Earnings / Revenue 3.46% 4.49%
Basic Earnings Per Share $0.39 $0.47
Diluted Earnings Per Share $0.39 $0.47
COMMON SHARES
Basic Shares Outstanding 15.08M 15.07M
Diluted Shares Outstanding 15.08M 15.07M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $117.0M $112.9M
YoY Change -20.81% -29.75%
Cash & Equivalents $117.0M $112.9M
Short-Term Investments
Other Short-Term Assets $10.83M $12.44M
YoY Change 15.4% 25.33%
Inventory
Prepaid Expenses
Receivables $77.08M $54.66M
Other Receivables $0.00 $0.00
Total Short-Term Assets $204.9M $201.7M
YoY Change -10.34% -16.59%
LONG-TERM ASSETS
Property, Plant & Equipment $130.5M $26.23M
YoY Change 400.63% 5.01%
Goodwill $554.6M $549.0M
YoY Change 6.07% 8.34%
Intangibles $124.3M $123.9M
YoY Change 10.88% 15.16%
Long-Term Investments $12.17M $12.24M
YoY Change -1.07% 0.11%
Other Assets $2.699M $4.629M
YoY Change -52.47% -1.49%
Total Long-Term Assets $824.3M $821.5M
YoY Change 5.45% 8.4%
TOTAL ASSETS
Total Short-Term Assets $204.9M $201.7M
Total Long-Term Assets $824.3M $821.5M
Total Assets $1.029B $1.023B
YoY Change 1.88% 2.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.361M $4.100M
YoY Change 41.36% 11.59%
Accrued Expenses $99.33M $58.06M
YoY Change 177.11% 33.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.605M $9.700M
YoY Change 27.13% 28.82%
Total Short-Term Liabilities $115.3M $107.1M
YoY Change 40.0% 24.8%
LONG-TERM LIABILITIES
Long-Term Debt $132.9M $135.7M
YoY Change -6.06% -5.41%
Other Long-Term Liabilities $85.34M $5.507M
YoY Change 478.29% -56.91%
Total Long-Term Liabilities $218.3M $141.2M
YoY Change 39.68% -9.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $115.3M $107.1M
Total Long-Term Liabilities $218.3M $141.2M
Total Liabilities $546.4M $353.2M
YoY Change 59.78% 2.64%
SHAREHOLDERS EQUITY
Retained Earnings $225.9M $226.5M
YoY Change -5.32% -4.71%
Common Stock $172.0K $172.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $31.63M $31.63M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $482.8M $484.6M
YoY Change
Total Liabilities & Shareholders Equity $1.029B $1.023B
YoY Change 1.88% 2.36%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $5.811M $7.506M
YoY Change -37.21% -31.26%
Depreciation, Depletion And Amortization $4.387M $4.514M
YoY Change 10.78% 17.95%
Cash From Operating Activities $22.12M $28.99M
YoY Change 35.21% 5.69%
INVESTING ACTIVITIES
Capital Expenditures $2.523M $2.336M
YoY Change -1.06% -5.19%
Acquisitions
YoY Change
Other Investing Activities -$3.319M -$25.96M
YoY Change -76.94% 474.86%
Cash From Investing Activities -$5.842M -$28.29M
YoY Change -65.51% 305.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -12.23M -20.08M
YoY Change -2.0% -118.65%
NET CHANGE
Cash From Operating Activities 22.12M 28.99M
Cash From Investing Activities -5.842M -28.29M
Cash From Financing Activities -12.23M -20.08M
Net Change In Cash 4.048M -19.38M
YoY Change -131.0% -115.12%
FREE CASH FLOW
Cash From Operating Activities $22.12M $28.99M
Capital Expenditures $2.523M $2.336M
Free Cash Flow $19.60M $26.66M
YoY Change 41.9% 6.77%

Facts In Submission

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RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
16219000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
20564000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
35568000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
27481000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
18994000
CY2024Q2 usph Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
21091000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
123698000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10126000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
113572000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y10M24D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.044
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.035
usph Percentage Of General Partnership Interest Owned
PercentageOfGeneralPartnershipInterestOwned
0.01
CY2024Q2 us-gaap Revenues
Revenues
167190000
CY2023Q2 us-gaap Revenues
Revenues
151485000
us-gaap Revenues
Revenues
322865000
us-gaap Revenues
Revenues
299994000
CY2024Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
96334000
CY2023Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
86871000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
190065000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
172911000
CY2024Q2 usph Rent Supplies Contract Labor And Other
RentSuppliesContractLaborAndOther
35277000
CY2023Q2 usph Rent Supplies Contract Labor And Other
RentSuppliesContractLaborAndOther
30844000
usph Rent Supplies Contract Labor And Other
RentSuppliesContractLaborAndOther
67193000
usph Rent Supplies Contract Labor And Other
RentSuppliesContractLaborAndOther
60944000
CY2024Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1717000
CY2023Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1563000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3344000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3075000
CY2024Q2 us-gaap Costs And Expenses
CostsAndExpenses
133328000
CY2023Q2 us-gaap Costs And Expenses
CostsAndExpenses
119278000
us-gaap Costs And Expenses
CostsAndExpenses
260602000
us-gaap Costs And Expenses
CostsAndExpenses
236930000
CY2024Q2 us-gaap Gross Profit
GrossProfit
33862000
CY2023Q2 us-gaap Gross Profit
GrossProfit
32207000
us-gaap Gross Profit
GrossProfit
62263000
us-gaap Gross Profit
GrossProfit
63064000
CY2024Q2 us-gaap Assets
Assets
1023134000
CY2023Q2 us-gaap Assets
Assets
999581000
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
ef20030094_10q.htm Edgar Link pending
ef20030094_ex31-1.htm Edgar Link pending
ef20030094_ex31-2.htm Edgar Link pending
ef20030094_ex32.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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ef20030094_10q_htm.xml Edgar Link completed
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report.css Edgar Link pending
Show.js Edgar Link pending
usph-20240630.xsd Edgar Link pending
usph-20240630_cal.xml Edgar Link unprocessable
usph-20240630_def.xml Edgar Link unprocessable
usph-20240630_pre.xml Edgar Link unprocessable
0001140361-24-037313-index-headers.html Edgar Link pending
0001140361-24-037313-index.html Edgar Link pending
0001140361-24-037313.txt Edgar Link pending
0001140361-24-037313-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
usph-20240630_lab.xml Edgar Link unprocessable