U.S. Physical Therapy, Inc. Provides Earnings Guidance for the Full Year 2021
February 25, 2021 at 01:30 pm
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U.S. Physical Therapy, Inc. provided earnings guidance for the full year 2021. Management currently expected the company’s operating results for 2021 to be in the range of $30.9 million to $32.5 million, or $2.40 to $2.52 per share, which considers the following: the previously-announced Medicare rate reduction for the full year of 2021 of approximately 3.5%, which is expected to reduce the company’s 2021 revenue by approximately $4.5 million, or $0.21 per share after non-controlling interest and taxes. The previously-announced cessation of the 2% sequestration relief applied to all Medicare payments effective April 1, 2021, which is expected to reduce the Company’s 2021 revenue, beginning in the second quarter, by approximately $2.0 million, or $0.10 per share after non-controlling interest and taxes. Lost revenues related to significant weather-related events in February, primarily in Texas and Tennessee, of approximately $2.8 million, or $0.13 per share after non-controlling interest and taxes.
U.S. Physical Therapy, Inc. is engaged in physical therapy operations and provides industrial injury prevention services. The Company is engaged in physical therapy operations primarily through its subsidiary, clinic partnerships. The Company's clinics provide preventative and post-operative care for a variety of orthopedic-related disorders and sports-related injuries, treatment for neurologically related injuries and rehabilitation of injured workers. It operates approximately 683 outpatient physical therapy clinics in 42 states. In addition to owning and operating clinics, the Company manages about 41 physical therapy facilities for unaffiliated third parties, including hospitals and physician groups. The Company also has an industrial injury prevention business which provides onsite services for clientsâ employees, including injury prevention and rehabilitation, performance optimization, post-offer employment testing, functional capacity evaluations, and ergonomic assessments.
U.S. PHYSICAL THERAPY, INC. 
