Page 1

FOR IMMEDIATE RELEASE CONTACT : Steve Filton Chief Financial Officer 610-768-3300 Exhibit 99.1 April 26 , 2021 UNIVERSAL HEALTH SERVICES , INC . ANNOUNCES 2021 FIRST QUARTER FINANCIAL RESULTS AND PLANS TO RETURN CARES ACT GRANTS RECEIVED DURING FIRST QUARTER OF 2021 Consolidated Results of Operations , As Reported and As Adjusted – Three - month periods ended March 31 , 2021 and 2020 : KING OF PRUSSIA , PA – Universal Health Services , Inc. ( NYSE : UHS ) announced today that its reported net income attributable to UHS was $ 209.1 million , or $ 2.43 per diluted share , during the first quarter of 2021 , as compared to $ 142.0 million , or $ 1.64 per diluted share , during the first quarter of 2020. Net revenues increased 6.5 % to $ 3.013 billion during the first quarter of 2021 as compared to $ 2.830 billion during the first quarter of 2020 . During the first quarter of 2021 , we received approximately $ 188 million of additional funds from the federal government in connection with the Coronavirus Aid , Relief , and Economic Security Act ( " CARES Act " ) . We have begun coordinating the return of the funds with the appropriate government agencies and expect to return the $ 188 million during the second quarter of 2021 utilizing a portion of our cash and cash equivalents held on deposit . Therefore , our results of operations for the quarter ended March 31 , 2021 include no impact from the receipt of those funds . Also , and as previously announced earlier this year , in March of 2021 we funded the early repayment of $ 695 million of funds received during 2020 pursuant to the Medicare Accelerated and Advance Payment Program . These funds were returned to the government utilizing a portion of our cash and cash equivalents held on deposit . As reflected on the Schedule of Non - GAAP Supplemental Information ( “ Supplemental Schedule ” ) , our adjusted net income attributable to UHS during the first quarter of 2021 was $ 210.1 million , or $ 2.44 per diluted share , as compared to $ 150.2 million , or $ 1.73 per diluted share , during the first quarter of 2020 . As reflected on the Supplemental Schedule , included in our reported results during the first quarter of 2021 , was a net aggregate unfavorable after - tax impact of $ 1.1 million , or $ .01 per diluted share , consisting of the following : ( i ) an after - tax unrealized loss of $ 2.1 million , or $ .02 per diluted share , ( $ 2.8 million pre - tax which is included in “ Other ( income ) expense , net " ) , resulting from a decrease in the market value of shares of certain marketable securities held for investment and classified as available for sale , and ; ( ii ) a favorable after - tax impact of $ 1.1 million , or $ .01 per diluted share , resulting from our adoption of ASU 2016-09 , “ Compensation – Stock Compensation ( Topic 718 ) : Improvements to Employee Share - Based Payment Accounting " ( " ASU 2016-09 " ) . As reflected on the Supplemental Schedule , included in our reported results during the first quarter of 2020 , was a net aggregate unfavorable after - tax impact of $ 8.1 million , or $ .09 per diluted share , consisting of the following : ( i ) an after - tax unrealized loss of $ 7.4 million , or $ .08 per diluted share , ( $ 9.6 million pre - tax which is included in “ Other ( income ) expense , net " ) , resulting from a decrease in the market value of shares of certain marketable securities held for investment and classified as available for sale , and ; ( ii ) a unfavorable after - tax impact of $ 0.8 million , or $ .01 per diluted share , resulting from our adoption of ASU 2016-09 .