Every material Form 8-K Universal Health Services filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
On December 30, 2025, UHS's Compensation Committee approved an amended and restated employment agreement for CEO and President Marc D. Miller, with the company guaranteeing the employer's obligations. The filing sets his 2026 base salary at $1,575,000, a 5% increase over 2025, and a bonus target of 150% of salary, which shareholders can track through future proxy and compensation disclosures.
2026 base salary set at $1,575,000, a 5% increase over 2025 base salary.
Annual bonus target equals 150% of salary; actual bonus may be higher or lower.
Term scheduled to end January 1, 2029, with automatic one-year renewals unless either party elects otherwise.
Long-term incentive awards vest in full on certain terminations, and the agreement is filed as Exhibit 10.1.
Universal Health Services reported third-quarter 2025 net revenues up 13.4% to $4.495 billion and diluted EPS of $5.86, versus $3.80 a year earlier, and raised its full-year 2025 forecast for net revenues, Adjusted EBITDA net of NCI and Adjusted EPS-diluted. The board also added $1.5 billion to the stock repurchase authorization, bringing the available total to $1.759 billion, which matters to shareholders because it raises both the earnings outlook and the capacity for share buybacks.
Q3 2025 net income attributable to UHS was $373.0 million, or $5.86 per diluted share, versus $258.7 million, or $3.80, in Q3 2024
Q3 results included $90 million of pre-tax Medicaid reimbursements for Washington, D.C. and a $35 million pre-tax charge for professional and general liability reserves
2025 Adjusted EPS-diluted forecast raised to $21.50-$22.10 from $20.00-$21.00; net revenues forecast raised to $17.306-$17.445 billion
Board authorized a $1.5 billion increase to the stock repurchase program on October 27, 2025; 1.315 million shares repurchased in Q3 2025 for about $234.3 million
Universal Health Services reported second-quarter 2025 net income attributable to UHS of $353.2 million, or $5.43 per diluted share, up from $4.26 a year earlier, on net revenues up 9.6% to $4.284 billion. The company raised its full-year 2025 Adjusted EPS-diluted forecast to $20.00 to $21.00 per share from $18.45 to $19.95, which matters to shareholders because it signals higher expected earnings for the year.
Q2 2025 diluted EPS was $5.43 versus $4.26 in Q2 2024; net revenues rose 9.6% to $4.284 billion
Results included approximately $101 million of incremental net Medicaid reimbursements, including about $58 million from the Tennessee Medicaid directed payment program
Revised 2025 Adjusted EPS-diluted forecast is $20.00 to $21.00 per share, up from the original $18.45 to $19.95
Q2 2025 included a pre-tax loss of approximately $25 million from a newly opened 142-bed hospital in Washington, D.C.
Universal Health Services reported first-quarter 2025 net income attributable to UHS of $316.7 million, or $4.80 per diluted share, up from $261.8 million, or $3.82, a year earlier, on net revenues that rose 6.7% to $4.100 billion. Operating cash flow fell to $360 million from $396 million, mainly because of delayed receipts from certain Medicaid supplement payment programs, which the filing says is partly tied to a Nevada program approved in April 2025.
Net revenues rose 6.7% to $4.100 billion from $3.844 billion in the first quarter of 2024.
Diluted EPS was $4.80 versus $3.82; adjusted diluted EPS was $4.84 versus $3.70.
Net cash from operating activities was $360 million versus $396 million, with accounts receivable up $144 million on a year-over-year basis.
The company repurchased about 1.0 million shares for $180.6 million in the quarter, with $643.7 million of repurchase authorization remaining as of March 31, 2025.
On March 19, 2025, Universal Health Services' Compensation Committee approved 2025 bonus formulae for executive officers and granted 2025 stock awards, and replaced the employment agreements of CEO Marc D. Miller and Executive Chairman Alan B. Miller. The filing sets Marc Miller's 2025 salary at $1,500,000, a 6.7% increase, with his term scheduled to end January 1, 2028, and Alan Miller's 2025 salary at $1,125,000, a 4.0% increase, with his term scheduled to end January 1, 2027. The filing describes routine executive pay terms and does not report a change in leadership or financial results.
Marc D. Miller's 2025 salary is $1,500,000, a 6.7% increase over 2024, with an annual bonus target of 150% of salary; his term is scheduled to end January 1, 2028.
Alan B. Miller's 2025 salary is $1,125,000, a 4.0% increase over 2024; his term is scheduled to end January 1, 2027.
2025 executive bonuses can pay between 0% and 200% of target, based on adjusted net income per diluted share and return on capital.
On March 19, 2025, the Committee granted restricted stock units at a grant-date value of $178.08 per share; Marc Miller received 28,077 time-based and 28,077 performance-based units.
Universal Health Services reported fourth-quarter 2024 net income attributable to UHS of $332.4 million, or $4.96 per diluted share, up from $216.4 million, or $3.16, a year earlier, on net revenues up 11.1% to $4.114 billion. For full-year 2024, net income was $1.142 billion, or $16.82 per diluted share, on net revenues of $15.828 billion. The company forecast 2025 net revenues of $17.020 billion to $17.364 billion and EPS-diluted of $18.45 to $19.95 per share.
Q4 2024 net income attributable to UHS: $332.4 million, or $4.96 per diluted share, versus $216.4 million, or $3.16, in Q4 2023
Q4 2024 net revenues rose 11.1% to $4.114 billion; full-year 2024 net revenues were $15.828 billion
2025 forecast: net revenues $17.020 billion to $17.364 billion; EPS-diluted $18.45 to $19.95 per share
Share repurchases in 2024 totaled approximately $598.5 million; about $824.4 million of authorization remained as of December 31, 2024
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Universal Health Services filing is on SEC EDGAR ↗. 8-K briefs of other companies →