---
schema_version: "secwatch.filing_event.v1"
accession: "0000885978-23-000004"
form_type: "8-K"
ticker: "USPH"
cik: "0000885978"
company_name: "U S PHYSICAL THERAPY INC /NV"
filed_at: "2023-02-23T23:59:59+00:00"
generated_at: "2026-06-19T03:45:50.231413+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# USPH Q4 GAAP EPS loss $0.01; adjusted EBITDA up 2.8%; raises dividend 4.9% to $0.43; guides 2023 EBITDA $75-80M

## Summary
- Q4 net income $2.6M vs $10.2M YoY; GAAP diluted EPS loss $0.01 (incl. $9.1M goodwill impairment).
- Adjusted EBITDA $17.9M (+2.8% YoY); Operating Results $0.58/diluted share vs $0.72 (excl relief funds).
- Full year 2022 revenue $553.1M (+11.7%); net patient revenue from PT $464.6M (+6.0%).
- IIP services revenue $77.1M (+75.5% YoY); two Q4 acquisitions added 27 clinics.
- Board raised quarterly dividend to $0.43/share (+4.9%); 2023 Adjusted EBITDA guidance $75-80M.

## SEC filing metadata
- accession: 0000885978-23-000004
- form_type: 8-K
- ticker: USPH
- cik: 0000885978
- company_name: U S PHYSICAL THERAPY INC /NV
- filed_at: 2023-02-23T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/885978/000088597823000004/0000885978-23-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885978/000088597823000004/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885978-23-000004
- JSON: https://secwatch.observer/filing/0000885978-23-000004.json
- Plain text: https://secwatch.observer/filing/0000885978-23-000004.txt

## Key facts
- Earnings Releases
  U S PHYSICAL THERAPY INC /NV reported financial results for three months and year ended December 31, 2022.
  - Period: three months and year ended December 31, 2022
  - Result: reported results
  source text: On February 22, 2023, U.S. Physical Therapy, Inc. ("USPH" or the “Company”) (NYSE: USPH), a national operator of outpatient physical therapy clinics and provider of industrial injury prevention (“IIP”) services, reported results for the three months and year ended December 31, 2022 (“2022 Fourth Quarter” and “2022 Year”, respectively).
  evidence_url: https://www.sec.gov/Archives/edgar/data/885978/000088597823000004/0000885978-23-000004-index.htm

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