---
schema_version: "secwatch.filing_event.v1"
accession: "0000885978-22-000055"
form_type: "8-K"
ticker: "USPH"
cik: "0000885978"
company_name: "U S PHYSICAL THERAPY INC /NV"
filed_at: "2022-11-02T23:59:59+00:00"
generated_at: "2026-06-22T16:22:41.989854+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# USPH Q3 revenue $139.6M (+10.9%), GAAP EPS $0.72; cost pressures weigh on margins

## Summary
- Net income $9.6M; GAAP diluted EPS $0.72 vs $0.66 a year ago; non-GAAP Operating Results $0.58 per share vs $0.78.
- Adjusted EBITDA $17.0M, down from $19.6M; total operating costs rose to 80.8% of revenue from 76.3%.
- IIP revenue all-time high of $20.2M, up 92.1%; physical therapy same-store visits declined 1.5%.
- Board declared $0.41 quarterly dividend payable Dec 16, record Nov 21.
- Guidance for full-year Operating Results $34.4-35.8M and Adjusted EBITDA $73.5-75.4M, likely low end.

## SEC filing metadata
- accession: 0000885978-22-000055
- form_type: 8-K
- ticker: USPH
- cik: 0000885978
- company_name: U S PHYSICAL THERAPY INC /NV
- filed_at: 2022-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885978/000088597822000055/0000885978-22-000055-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885978/000088597822000055/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885978-22-000055
- JSON: https://secwatch.observer/filing/0000885978-22-000055.json
- Plain text: https://secwatch.observer/filing/0000885978-22-000055.txt

## Key facts
- Earnings Releases
  U S PHYSICAL THERAPY INC /NV reported the third quarter and nine months ended September 30, 2022 results: revenue $139.6 million, net income $9.6 million, EPS $0.72. Guidance reaffirmed.
  - Period: the third quarter and nine months ended September 30, 2022
  - Revenue: $139.6 million
  - Net income: $9.6 million
  - EPS: $0.72
  - Guidance: reaffirmed
  - Result: reported results
  source text: Third Quarter included a change in the fair value of a continent earn-out payment which had the effect of increasing net income by $1.5 million, net of tax. • Total revenue of $139.6 million for the 2022 Third Quarter was 10.9% higher than total revenue of $125.9 million for the 2021 Third Quarter. • Net patient revenue from physical therapy operations was $116.7
  evidence_url: https://www.sec.gov/Archives/edgar/data/885978/000088597822000055/0000885978-22-000055-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.