U.S. Physical Therapy reports Q1 operating EPS 51c, consensus 56c

Reports Q1 revenue $155.675M, consensus $153.37M. Chris Reading, Chief Executive Officer, said, “After a relatively slow January, visits have rebounded nicely and we are ahead of plan thus far for the year, which has been reflected in our guidance update. Demand remains strong for our life-improving physical therapy services, and we are excited about the newest additions to our PT and IIP family of companies. Also importantly, we are seeing our contract renegotiations and focus on workers comp bear some nice fruit. We remain focused on growing our most profitable markets, deploying capital for additional acquisitions, continuing our work on pricing and, most importantly, serving those well who are entrusted to our care.”