HCA Healthcare Inc. (NYSE: HCA) announced impressive second-quarter earnings, surpassing market expectations and raising its full-year outlook. The healthcare services company experienced growth in facility admissions, emergency room visits, and surgeries.
Financial Performance
- Net income increased to $1.19 billion, or $4.29 per share, compared to $1.16 billion, or $3.90 per share, in the previous year.
- FactSet consensus for earnings per share was $4.25.
- Revenue grew by 7.0% to $15.86 billion, exceeding the FactSet consensus of $15.63 billion.
Operational Highlights
On a same-facility basis:
- Admissions increased by 2.2%.
- Emergency room visits rose by 3.7%.
- Inpatient surgeries grew by 1.8%.
- Outpatient surgeries showed notable growth of 3.3%.
Raised Guidance for 2023
HCA Healthcare has updated its guidance for 2023 as follows:
- EPS guidance increased from $17.25 to $18.25 to a range of $17.70 to $18.90.
- Revenue guidance raised from $62.5 billion to $64.5 billion to a range of $63.25 billion to $64.75 billion.
Market Performance
Year-to-date, HCA Healthcare stock has demonstrated substantial growth of 17.6%. In comparison, the Health Care Select Sector SPDR exchange-traded fund (NYSEARCA: XLV) has slightly decreased by less than 0.1%, while the S&P 500 index (NYSEARCA: SPY) has surged by 18.9%.
HCA Healthcare Inc. continues to deliver solid financial results and expects sustained growth in the coming years.
