Breast Health revenue declined 5.8% or 10.8% organically excluding Endomagnetics and SSI, but grew sequentially compared to Q2 and slightly exceeded internal goals.
Diagnostics revenue grew 0.9% or 2.9% organically excluding COVID-related sales, with molecular diagnostics leading growth at 2.4% globally and 7.3% in the U.S. excluding COVID.
Net margin was 23.8%, down 100 basis points year-over-year but up 60 basis points sequentially.
Non-GAAP EPS was $1.08, a 1.9% increase year-over-year and $0.01 above the high end of guidance.
Non-GAAP operating margin was just above 30%, with gross margin at 60.3%, down 80 basis points due to product mix and a reserve related to Fluoroscan discontinuation.
Operating cash flow was $343 million, with $1.88 billion in cash and short-term investments and a net leverage ratio of 0.6x.
Operating expenses increased 2.2% driven by acquisitions and deferred compensation, but excluding acquisitions, expenses declined 4.3%.
Skeletal revenue grew 62.1% as shipping resumed for the final DEXA model, meeting pent-up demand.
Surgical revenue increased 6.3% or 1.2% organically excluding Gynesonics, driven by strong international growth of 24.8%.
Total revenue for the third quarter was $1.024 billion, representing a slight growth of 0.4% and exceeding the high end of guidance by about $14 million.
Acquired 1.9 million shares at a cost of approximately $332 million in the first half of 2025, repurchasing about 34% of outstanding shares since 2019.
Available borrowing capacity was approximately $1 billion under a $1.3 billion revolving credit facility as of June 30, 2025.
Behavioral health hospitals' same-facility net revenues increased 5.4% excluding Tennessee Medicaid directed payment program, driven by 4.2% revenue per adjusted day increase and 1.2% adjusted patient days growth.
Capital expenditures were $505 million in the first half of 2025, with 25% related to two new/replacement facilities opening in spring 2026.
Cash generated from operating activities decreased by $167 million to $909 million in the first half of 2025 compared to the same period in 2024.
Net income attributable to UHS per diluted share was $5.43 for Q2 2025, with adjusted net income per diluted share at $5.35 after adjustments.
Operating expenses on a same-facility basis increased 3.1% excluding insurance subsidiary impact.
Same-facility adjusted admissions to acute care hospitals increased 2.0% year-over-year, while surgical volumes declined slightly.
Same-facility EBITDA in acute care hospitals increased by 10% due to solid revenues and expense controls.
Same-facility net revenues in acute care hospitals increased 5.7% excluding insurance subsidiary impact.
Dafinchi