Nashville, Tenn.-based HCA Healthcare reported an operating income of $2.3 billion (12.7% margin) in the first quarter, compared to a $2.2 billion operating gain (13% margin) in the same period last year, according to financial results released April 25.
“The solid fundamentals we saw in our business the past several quarters continued into the first quarter of 2025,” HCA CEO Sam Hazen said. “As we look to the rest of the year, we remain encouraged by our performance, the overall backdrop of growing demand for healthcare services, and the investments we’ve made across our networks to serve our communities better.”
Seven things to know:
1. Revenues in the first quarter of 2025 totaled $18.3 billion, compared to $17.3 billion in the first quarter of 2024.
2. Results for the first quarter of 2024 include gains on sales of facilities of $201 million, or $0.57 per diluted share, primarily related to the sale of Regional Medical Center, a 252-bed hospital in San Jose, Calif.
3. After accounting for nonoperating expenses, the for-profit health system reported a net income of $1.61 billion (8.8% margin) in the first quarter, up from $1.59 billion in the same quarter in 2024.
4. Year over year for the first quarter, same facility admissions increased 2.6%, equivalent admissions were up 2.8%, emergency room visits increased 4%, revenue per equivalent admission increased 2.9% and inpatient surgeries rose 0.2%. Same facility outpatient surgeries declined 2.1%.
5. As of March 31,, cash and cash equivalents was $1.1 billion, total debt was $44.6 billion and total assets were $59.8 billion. Capital expenditures totaled $991 million, excluding acquisitions. Cash flows from operating activities in the first quarter of 2025 totaled $1.7 billion, compared to $2.5 billion in the first quarter of 2024.
6. Long-term debt stood at $41.1 billion as of March 31.
7. HCA operates 192 hospitals and about 2,500 ambulatory care sites in 20 states and the United Kingdom.
