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FOR IMMEDIATE RELEASE CONTACT : Steve Filton Chief Financial Officer 610-768-3300 Exhibit 99.1 October 25 , 2021 UNIVERSAL HEALTH SERVICES , INC . REPORTS 2021 THIRD QUARTER FINANCIAL RESULTS Consolidated Results of Operations , As Reported and As Adjusted – Three - month periods ended September 30 , 2021 and 2020 : KING OF PRUSSIA , PA – Universal Health Services , Inc. ( NYSE : UHS ) announced today that its reported net income attributable to UHS was $ 218.4 million , or $ 2.60 per diluted share , during the third quarter of 2021 , as compared to $ 241.3 million , or $ 2.82 per diluted share , during the third quarter of 2020. Net revenues increased 8.4 % to $ 3.156 billion during the third quarter of 2021 as compared to $ 2.913 billion during the third quarter of 2020 . As reflected on the Schedule of Non - GAAP Supplemental Information ( “ Supplemental Schedule ” ) , our adjusted net income attributable to UHS during the third quarter of 2021 was $ 224.1 million , or $ 2.67 per diluted share , as compared to $ 246.5 million , or $ 2.88 per diluted share , during the third quarter of 2020 . Included in our reported and adjusted net income attributable to UHS during the third quarter of last year were the following : ( i ) a favorable impact of approximately $ 21.4 million , or $ 0.25 per diluted share , resulting from $ 28 million of net revenues recorded in connection with the California Medicaid supplemental payment program related to our acute care hospitals ( approximately $ 11 million of these supplemental revenues were attributable to the first nine months of 2020 and $ 17 million were attributable to prior years ) , and ; ( ii ) an unfavorable impact of approximately $ 4.7 million , or $ 0.06 per diluted share , resulting from a reversal of approximately $ 5 million of previously recognized grant income revenues recorded in connection with various governmental stimulus programs , most notably the Coronavirus Aid , Relief , and Economic Security Act ( " CARES Act ” ) . As reflected on the Supplemental Schedule , included in our reported results during the third quarter of 2021 , was a net aggregate unfavorable after - tax impact of $ 5.8 million , or $ .07 per diluted share , consisting primarily of the following : ( i ) an after - tax charge of $ 12.9 million , or $ .15 per diluted share , ( $ 16.8 million pre - tax which is included in “ Other ( income ) expense , net ” ) recorded in connection with costs related to extinguishment of debt , as discussed below in Liquidity and Financing Transactions , partially offset by ; ( ii ) an after - tax unrealized gain of $ 6.8 million , or $ .08 per diluted share , ( $ 8.9 million pre - tax which is included in “ Other ( income ) expense , net ” ) , resulting from an increase in the market value of shares of certain equity securities . As reflected on the Supplemental Schedule , included in our reported results during the third quarter of 2020 , was a net aggregate unfavorable after - tax impact of $ 5.2 million , or $ .06 per diluted share , consisting of the following : ( i ) an after - tax unrealized loss of $ 2.1 million , or $ .02 per diluted share , ( $ 2.7 million pre - tax which is included in “ Other ( income ) expense , net ” ) , resulting from a decrease in the market value of shares of certain equity securities , and ; ( ii ) an unfavorable after - tax impact of $ 3.1 million , or $ .04 per diluted share , resulting from ASU 2016-09 , " Compensation - Stock Compensation ( Topic 718 ) : Improvements to Employee Share- Based Payment Accounting " ( " ASU 2016-09 " ) .