HCA beats Q2 expectations in profits, revenue, admissions

Emily Rappleye (Twitter | Google+) - Print  | 

Nashville, Tenn.-based Hospital Corporation of America profits surpassed expectations in the second quarter, reaching $507 million, or $1.18 per share, up 5 percent from the same period a year earlier.

HCA, the nation's largest for-profit hospital operator, also topped expected revenue, reporting a 7.2 percent increase year-over-year to $9.90 billion. Analysts forecasted $9.82 billion, according to Reuters.

Excluding debt-retirement losses, losses on sales of facilities and legal claim costs, the company reported steady $1.37 per-share profits over Q2 last year. Reuters reported analysts on average estimated a profit of $1.34 per share.

These results are the product of increased same-facility admissions and same-facility emergency room visits, which saw a 4.1 percent and 7.4 percent boost, respectively, this quarter.

The for-profit operator also reported a $125 million loss on retirement of debt, down from a $226 million loss in 2014, and $5 million in losses from sales on facilities. In Q2 2014, HCA reported a $11 million gain from sales on facilities.

For the six months ended June 30, HCA reported an 8.4 percent increase in revenues to $19.57 billion and a 32 percent increase in net income to nearly $1.1 billion.

 

More articles on finance:

10 states where most hospitals face Medicare readmission penalties
CFOs believe healthcare costs are biggest threat to earnings, survey finds
OIG: Providers banned from Medicaid still received $7.4M in payments

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.