HCA's profit climbs to $759M in Q3

Ayla Ellison (Twitter) -

Nashville, Tenn.-based HCA Healthcare saw revenues and net income rise year over year in the third quarter of 2018.

HCA said revenues increased 7.1 percent year over year to $11.5 billion in the third quarter of this year. The company attributed the revenue growth in part to higher patient volumes. HCA also saw same-facility admissions increase 3.1 percent year over year.

The company's earnings took a $140 million hit from Hurricanes Harvey and Irma in the third quarter of 2017, and Hurricane Florence affected HCA's finances in the third quarter of this year.

"We estimate that we had an approximately $9 million impact associated with Florence in this quarter," William B. Rutherford, HCA's executive vice president and CFO, said on an earnings call Oct. 30.

The company's expenses totaled $9.4 billion in the third quarter of this year, up from $8.9 billion in the same period of 2017.

After factoring in nonoperating income, one-time charges, a tax benefit of $132 million and gains of $6 million from facility sales, HCA ended the third quarter of 2018 with a $759 million profit. That's compared to the third quarter of 2017, when the company recorded a profit of $426 million.

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