US Physical Therapy (USPH) Misses Q3 EPS by 1c, Slight Beat on Revenues; Offers FY17 EPS Guidance Below Consensus

US Physical Therapy (NYSE: USPH) reported Q3 EPS of $0.48, $0.01 worse than the analyst estimate of $0.49. Revenue for the quarter came in at $103 million versus the consensus estimate of $102.48 million.

Management Updates 2017 Earnings Guidance

Management previously disclosed that because of hurricanes Harvey and Irma the Company lost approximately 8,500 patient visits, which was estimated to have a financial impact to earnings of $.03 per share. Primarily as the result of the impact from those storms we currently expect the Company’s operating results for the year 2017 to be in the range of $25.4 million to $26.5 million and $2.02 to $2.10 in diluted earnings per share as compared to $24.3 million and $1.94, respectively, in the year 2016. This earnings range is based on an assumed annual corporate tax rate of approximately 37%. Please note that management’s guidance range represents projected earnings from existing operations excluding potential future acquisitions. The annual guidance figures will not be updated unless there is a material development that causes management to believe that earnings will be significantly outside the given range.

GUIDANCE:

US Physical Therapy sees FY2017 EPS of $2.02-$2.10, versus the consensus of $2.12.

For earnings history and earnings-related data on US Physical Therapy (USPH) click here.

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