U.S. Physical Therapy to suspend dividend for rest of the year, has furloughed or cut 2,000 jobs [MarketWatch]
U.S. Physical Therapy, Inc. (USPH)
Last u.s. physical therapy, inc. earnings: 2/27 08:30 am
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Source: MarketWatch
Shares of U.S. Physical Therapy Inc. slipped 0.5% in morning trading Thursday, after the operator of outpatient physical therapy clinics said it has furloughed or terminated about 2,000 employees, or about 40% of its workforce, as a result of the COVID-19 pandemic. The company said suspend its dividend for the rest of the year, after it pays the previously announced quarterly dividend of 32 cents a share on April 17. The company said it has closed 51 clinics and expects more closures, within clinics remaining open witnessing "significant" declines in patient volume amid slowing new patient referrals and increasing cancellations of scheduled appointments. Last week, overall patient volumes were about 55% of normal volumes. In addition to job cuts, the company said it has cut salaries by 20% to 25% at its corporate office, cut executive salaries by 35% to 40% and cut fees for the board of directors by 50%. Te stock has tumbled 41.0% over the past three months, while the S&P 500 has decl
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USPH
Earnings
- 11/5/25 - Miss
USPH
Sec Filings
- 1/7/26 - Form 8-K
- 11/25/25 - Form 4
- 11/24/25 - Form 4
- USPH's page on the SEC website