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.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.