U.S. Physical Therapy, Inc. (NYSE:USPH) Q1 2024 Earnings Call Transcript

Christopher Reading: Yes. Yes, for sure. And Mike, it’s interesting time right now. I know that from time to time, over a period of many years, we’ve sometimes gotten criticized a little bit for having a conservative balance sheet, interesting many, many of our competitors. We’re really balance sheet constrained. And so we’re able to continue to grow and have discussions and really to create meaningful points of differentiation not just culturally in normal life after, but really predictable stability because we’re so well capitalized. And so you’re going to continue to see us grow. We’re talking to some large and companies. I’m not going to promise timing around that, which I know you’re not asking for, but we’re not afraid to grow.

We want to do it the right way. And at the same time, we need to meet people where they are and that involves their own personal timing and circumstance. And so I think we’re seeing in a really good light the deals that we’ve won recently. We haven’t been the highest bidder on. And yet, not that we’ve gotten them cheaply, the larger ones that we’ve announced. But I think in part, it’s because people see us being able to execute on our strategy over a long period of time where others are beginning to feel the effects of the capital market, which is not in their favor right now.

Operator: [Operator Instructions] And there are no further questions on the line at this time. I’ll turn the program back to our speakers for any closing comments.

Christopher Reading: Sure. All right, David. Thank you. Thanks, everybody. We appreciate your time today. Carey and I are available later again, as always, we have questions, things you want to bounce around. We’re happy to speak to those. Thank you for your time today, and have a great rest of your week. Bye now.

Operator: This does conclude today’s program. Thank you for your participation, and you may now disconnect.