U.S. Physical Therapy Inc (NYSE: USPH) has appointed Nchacha Etta as Executive Vice President and Chief Financial Officer, effective September 1, 2026. The appointment concludes a comprehensive search process for a permanent successor to the interim leadership team.

Jason Curtis, the Company’s Senior Vice President of Finance and Accounting, served as Interim CFO since April 24, 2026. Mr. Curtis will continue to lead the finance organization in his existing role following the transition.

Leadership Transition

Mr. Etta brings extensive experience in healthcare and medical technology sectors. He most recently served as Executive Vice President and Chief Financial Officer of Omnicell Inc (NASDAQ: OMCL) from 2023 to 2025. In that role, he oversaw global finance, information technology, and investor relations strategies.

Prior to Omnicell, Mr. Etta held senior finance roles at several major corporations:

• Senior Vice President and Chief Financial Officer for Essilor of America Inc, a subsidiary of EssilorLuxottica SA, from 2019 through 2022
• Worldwide Vice President and Chief Financial Officer of Johnson & Johnson Vision from 2015 to 2019
• Various senior finance roles at The Coca-Cola Company over nine years

Earlier in his career, he worked at Microsoft Corporation, Eli Lilly & Company, and The Carlyle Group. Mr. Etta holds a Bachelor of Science degree in Accounting from George Mason University and an MBA in Finance from Howard University. He has served on the board of directors of KBR Inc since 2024, including membership on its Audit Committee and Sustainability, Technology and Cybersecurity Committee.

Strategic Context

Chris Reading, Chief Executive Officer of U.S. Physical Therapy, highlighted Mr. Etta’s track record as a public company CFO and his cultural fit with the organization.

"We are excited to welcome Nchacha to our USPH family as our Executive Vice President and Chief Financial Officer following a very comprehensive search," Mr. Reading said. "Nchacha has a long and proven track record as a public company CFO and senior finance executive for major corporations. In addition to his experience, which is significant, he will be a great cultural fit for us and embodies the servant leadership that we look for in our senior executives."

Mr. Reading also acknowledged the contributions of Mr. Curtis during the interim period. "We also are grateful for the continued support from Jason Curtis, our SVP for Finance and Accounting, who stepped up to serve as our Interim CFO during this search process, and will continue to help lead our finance organization in his role as SVP."

About U.S. Physical Therapy Inc

Founded in 1990, U.S. Physical Therapy Inc owns and/or manages 796 outpatient physical therapy locations across 45 states. The Company provides preventative and post-operative care for orthopedic-related disorders and sports-related injuries, treatment for neurologically-related injuries, and rehabilitation of injured workers.

The Company also operates an industrial injury prevention business providing onsite services including injury prevention, rehabilitation, performance optimization, post-offer employment testing, functional capacity evaluations, and ergonomic assessments.

US Physical Therapy (NYSE: USPH) reported second-quarter adjusted earnings per share of $0.75, missing the analyst consensus estimate of $0.84 by 10.71 percent. The result marks a 7.41 percent decrease from the $0.81 per share recorded in the same period last year. While profitability metrics fell short of market expectations, the company demonstrated top-line strength, with quarterly sales reaching $214.059 million. This figure beat the analyst consensus estimate of $211.307 million by 1.30 percent and represented an 8.47 percent increase over the $197.344 million reported in the prior-year quarter.

Financial Performance Overview

The divergence between revenue growth and earnings performance highlights a pressure point in the company’s margin structure during the quarter. While sales expanded significantly, the adjusted EPS declined both sequentially against estimates and annually against prior results.

What the Numbers Show

The data reveals a clear disconnect between operational volume growth and bottom-line profitability. Revenue grew by 8.47 percent year-over-year, indicating successful patient acquisition or service utilization expansion. However, this growth did not translate into proportional earnings gains; instead, adjusted EPS fell by 7.41 percent. This suggests that cost structures or non-operating expenses may have increased at a faster rate than revenue, eroding margins despite the sales beat. Investors should monitor whether this margin compression is a temporary anomaly or a structural shift in the company’s cost base.