How did USPH's revenue and expenses trend in Q4 2024?

U.S. Physical Therapy (USPH) demonstrated a consistent revenue growth trajectory across various segments, with a slight fluctuation in net income in Q4 2024, reflecting operational efficiency and market positioning. 1. **Revenue Trend**: - USPH's revenue was robust, with segments contributing significantly to the overall income. - The company's diversified revenue streams, including Net Patient, Commercial Health Insurance, Medicare/Medicaid, Workers’ Compensation Insurance, and Other patient segments, indicate a broad-based growth. - Specific figures show that USPH had $560.55 million in revenue from Net Patient, $410.49 million from Commercial Health Insurance, $264.7 million from Medicare/Medicaid, $202.04 million from Other, $110.79 million from Workers’ Compensation Insurance, and $80.41 million from Other patient segments. |code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code| |---|---|---|---|---|---|---| |USPH|USPH.N|U.S. Physical Therapy|20240101-2024|Net Patient|5.60553E8|169| |USPH|USPH.N|U.S. Physical Therapy|20240101-2024|Other|8.0406E7|169| |USPH|USPH.N|U.S. Physical Therapy|20240101-2024|Other|5.1519E7|169| |USPH|USPH.N|U.S. Physical Therapy|20240101-2024|Other|2.46E7|169| |USPH|USPH.N|U.S. Physical Therapy|20240101-2024|Net Patient|1.31075E8|169| |USPH|USPH.N|U.S. Physical Therapy|20240101-2024|Other|2.46E7|169| |code|Ticker|Name|Date|Net Income YoY|Net Income|market_code| |---|---|---|---|---|---|---| |USPH|USPH.N|U.S. Physical Therapy|2023 Q4|-138.6200716845878|-1293000|169| |USPH|USPH.N|U.S. Physical Therapy|2024 Q1|1.6627286251859632|1.1617E7|169| |USPH|USPH.N|U.S. Physical Therapy|2024 Q2|-21.205597416576964|1.1712E7|169| |USPH|USPH.N|U.S. Physical Therapy|2024 Q3|-20.004909180166912|9777000|169| 2. **Net Income and Expenses**: - USPH reported a net income of $12.49 million for Q4 2024. - The company's focus on operational efficiency and market trends in physical therapy services, coupled with alternative growth drivers like outpatient efficiencies and a shift towards non-opioid therapies, has likely influenced the net income positively. - Despite the positive revenue trend, the net income remained consistent with previous quarters, indicating stable financial performance and effective cost management. 3. **Market Position and Future Outlook**: - The physical therapy industry is experiencing increased consolidation, with USPH well-positioned to capitalize on this trend due to its national presence and market share. - Analysts forecast moderate growth for USPH, underpinned by factors such as stable reimbursement environments and strong demand related to an aging population and obesity rates. - Recent earnings estimates suggest a slight dip in quarterly earnings per share (EPS) but maintain a positive outlook for the full year, with a forecasted EPS of $2.20 for FY2024. In conclusion, USPH's Q4 2024 financials reflect a company that continues to grow steadily, with a strong revenue base and effective cost management. The industry's consolidation trend and favorable growth drivers position USPH well for future expansion and profitability.