Universal Health Services, Inc. (NYSE:UHS) Wells Fargo 20th Annual Healthcare Conference 2025 September 5, 2025 10:15 AM EDT
Company Participants
Steve Filton – Executive VP, CFO & Secretary
Conference Call Participants
Stephen Baxter – Wells Fargo Securities, LLC, Research Division
Presentation
Stephen Baxter
Senior Equity Analyst
Okay. Good morning, everyone. I’m Steve Baxter, the health care services analyst here at Wells Fargo. So very pleased to have Universal Health Services with us today. As I’m sure you know, UHS operates a portfolio of acute care hospitals and behavioral assets. And from the company, we have CFO, Steve Filton. Steve, thanks again for being here. Did you want to make any opening remarks or should we just get right into the questions?
Steve Filton
Executive VP, CFO & Secretary
Just jump right into it.
Question-and-Answer Session
Stephen Baxter
Wells Fargo Securities, LLC, Research Division
Okay. Then maybe we will start on the policy side of things as I’m sure you’ve gotten a lot of questions in your meetings thus far. And the most front and center issue seemingly in front of the acute care hospital industry, in particular, is the potential expiration of enhanced subsidies. I think you still remain the only company that’s been willing to put an estimate out there about the potential impact of enhanced subsidy expiration. Maybe update us on your latest thinking there and just remind us the assumptions that go into developing that type of estimate that you put out.
Steve Filton
Executive VP, CFO & Secretary
Sure. Well, I think it’s worth noting that, I mean, in the last couple of days, there seems to be increasing reporting at least suggesting there’s a potential for some sort of extension of the subsidies, either as part of a continuing resolution or as a separate bill. But certainly no assurance. And I think part
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