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US Physical Therapy USPH Q1 2026 earnings

Reported May 6, 2026 · After market close

Revenue$198.3MMiss by $2.7M
EPS$0.46Miss by $0.09
Revenue estimate$200.9M
EPS estimate$0.55

Next report

Aug 5, 2026 (In 1 week)
Revenue estimate$211.4M
EPS estimate$0.85

Financials

Q1 2026

Income statement

See full
Revenue$198.3M+7.9%
Gross profit$32.8M+5.4%
Operating income$12.5M-36.5%
Net income$5.0M-49.1%
EPS (diluted)-$0.12-115%

Balance sheet

See full
Cash & equivalents$28.4M-27.4%
Total debt$169.4M+12.6%
Total equity$469.0M-5.7%
Total assets$1.2B+5.3%

Cash flow

See full
Operating cash flow$3.8M+181%
CapEx$5.4M+108%
Free cash flow-$1.6M+78.4%

Valuation & ratios

Valuation

as of 07/28/26
See full
Market cap$1.17B+1.9%
Enterprise value$1.31B+3.4%
P/E33.6×+3.6×
P/S1.5×-0.1×

Profitability

See full
Gross margin19%+0.9pp
Operating margin10%+0.3pp
Net margin4.4%-0.4pp
FCF margin8.4%+0.4pp

Returns & leverage

See full
Return on equity7.2%+0.4pp
Debt / equity0.4×+0.1×
Current ratio1.2×0.0×

Segments

By segment

See full
Physical Therapy Operations$167.7M+7.2%
Industrial Injury Prevention Services Revenues$30.6M+11.8%

By product

See full
Net Patient Revenues$164.3M+7.7%
Other Revenues Including Management Contract Revenues And Industrial Injury Prevention Services Revenues$34.0M+8.7%

Versus estimates

Revenue

Q1 2026$198.3MMiss by $2.7M
Q4 2025$202.7MBeat by $2.8MQ3 2025$164.0MMiss by $36.1MQ2 2025$164.2MMiss by $25.7MQ1 2025$152.5MMiss by $35.6MQ4 2024$180.4MBeat by $7.3M

Diluted EPS

Q1 2026$0.46Miss by $0.09
Q4 2025$0.67In lineQ3 2025$0.66Miss by $0.01Q2 2025$0.81Beat by $0.10Q1 2025$0.48Beat by $0.02Q4 2024$0.65Miss by $0.04

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Questions, answered.

When did US Physical Therapy report Q1 2026 earnings?
US Physical Therapy (USPH) reported Q1 2026 earnings on May 6, 2026 after market close.
What were US Physical Therapy's Q1 2026 revenue and EPS?
US Physical Therapy reported revenue of $198.3M and eps of $0.46 for Q1 2026.
Did US Physical Therapy beat estimates in Q1 2026?
Revenue missed the consensus estimate of $200.9M by $2.7M. EPS missed the consensus estimate of $0.55 by $0.09.
How did US Physical Therapy's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 30.0% from $152.5M a year earlier and eps declined 4.2% from $0.48.
Where can I find US Physical Therapy's Q1 2026 SEC filings?
You can read the 8-K earnings release (0000885978-26-000019) and the 10-Q periodic report (0001140361-26-020025) directly on SEC EDGAR. The filing index links above go to sec.gov.