1.7 million visits set a record at U.S. Physical Therapy clinics; revenue per visit hit $111.
U.S. Physical Therapy reported Q3 2026 revenue of $223M, up 13% YoY, with net income of $6M. Patient visits rose 8% to 1.7M, and revenue per visit hit $111. Adjusted EBITDA increased to $24M. The company declared a $0.46 dividend and reaffirmed its 2026 adjusted EBITDA guidance.
How this was made
The 30-second read
Why it matters
The earnings miss is likely to depress the stock in the near term, though the company’s ongoing clinic integration could support longer‑term upside.
Market read
The report provides fresh financial data for USPH, a small‑cap healthcare stock, influencing trader decisions on the ticker.
What to watch
Integration of 72 clinics and new hospital affiliations may drive future revenue growth despite short‑term earnings pain.
Background
U.S. Physical Therapy (USPH) released its Q3 2026 earnings, reporting a loss and a modest revenue increase.
Ticker impact
Q3 2026 results show a loss of $13 million versus a $1.04 EPS profit a year earlier, with revenue up 13% to $223 million.
downside pressure as investors price in weaker profitability and higher expense headwinds
The company posted a loss after a profit year, and guidance was not raised; such surprise typically leads to a share price decline.
Market effects
Physical‑therapy sector may see broader scrutiny as earnings miss highlights cost pressures.
U.S. healthcare services stocks could face modest pullback.
Limited to U.S. small‑cap healthcare investors.
Counterpoint
If the loss is viewed as a one‑off expense issue, the stock could be undervalued and present a buying opportunity.
Key entities
- CompanyU.S. Physical Therapy
Provider of outpatient physical therapy services, ticker USPH.
