Nashville, Tenn.-based HCA Healthcare saw a net income of $1.7 billion (8.4% margin) in the second quarter, a figure that was roughly flat compared to $1.7 billion (8.9% margin) in the second quarter of 2025, according to financial results released July 24.
Eight things to know:
1. HCA’s operating income in the second quarter was $2.5 billion (12.3% margin), up from $2.4 billion (13% margin) during the same period last year.
2. The system’s total revenue was $20.2 billion, up from $18.6 billion during the second quarter in 2025. Adjusted EBITDA was $4 billion, up from $3.8 billion. HCA estimates changes to the ACA environment will cost it $1 billion to $1.2 billion in 2026, up significantly from an April estimate of $600 million to $900 million, according to its July 14 preliminary financial results.
3. HCA’s salaries and benefits were $8.3 billion, up from $8.1 billion during the same period last year.
4. Second-quarter results included a $10 million gain on facility sales, compared to a $3 million loss in the same period last year.
5. HCA revised its 2026 financial guidance. The system narrowed its revenue outlook to a range of $77 billion to $79.5 billion, from its January projection of $76.5 billion to $80 billion. It also lowered its net income outlook to between $6.3 billion and $6.7 billion, down from the prior range of $6.5 billion to $7 billion.
6. Same-facility admissions in the second-quarter increased 2.5% year over year. HCA’s equivalent admissions grew 2.7% and emergency room visits went up 3.6%. Same-facility inpatient surgeries declined 2.3%, outpatient surgeries dropped 3.4% and revenue per equivalent admission increased 6.4%.
7. HCA’s balance sheet reflected cash and cash equivalents as of June 30 of $1 billion. Its total assets were $63.3 billion and long-term debt was $43.5 billion.
8. HCA operates 190 hospitals and about 2,600 ambulatory care sites, including surgery centers, freestanding emergency rooms, urgent care centers and physician clinics, in 19 states and the United Kingdom.
