Justin Lake
Wolfe Research, LLC
All right. Good morning. My name is Justin Lake. I cover health care services here at Wolfe Research. Very pleased to kick off the last day of our Wolfe Healthcare Conference with UHS. We’ve got the company’s CFO, Steve Filton here. We’ve got the company’s new VP of IR, Darren Lehrich as well. Before we jump into the Q&A, Steve, maybe you give us a couple of minutes of your reflections on the year-to-date positive-negative surprises and how you view the company’s positioning into 2026?
Steve Filton
Executive VP, CFO & Secretary
Sure. So obviously, our third quarter earnings release just a few weeks ago. And I think from our perspective, things have been going largely as expected. I mean there were a couple of sort of nonrecurring items in the quarter. The biggest positive was the $90 million roughly of annual DPP payments from Washington, D.C. that we’ve been waiting for, waiting for CMS to approve for some time, offset by a couple of onetime expenses, malpractice expense and legal settlement, et cetera.
But I think in terms of the cadence and trajectory of our 2 businesses, largely performing as expected and as we expect going into 2026, I think — we think that we are truly now in sort of a post-COVID environment in which the businesses are operating in accordance with models that are much more historically normative maybe than they’ve been for the last several years; revenue — same-store revenue growth, mid-single digits. I think on the acute side, something in the 5.5%, 6% range, split pretty evenly between
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