HCA previewed its financial and operating results for the first quarter ended March 31, saying total revenue in the quarter will be around $8.44 billion, barely up from $8.41 billion in the same quarter a year ago. HCA expects income before taxes to be around $639 million, compared with $963 million in the first quarter of FY 2012.
The main impetus for the projected sluggish quarter is due to slow growth rates in both inpatient and outpatient volumes. Same-facility equivalent admissions are expected to be down 0.7 percent, compared with an increase of 4.8 percent in the first quarter last year. Same-facility inpatient surgeries are down roughly 2.6 percent, while same-facility outpatient surgeries declined 4.3 percent, compared to last year.
HCA executives affirmed their guidance for 2013 despite the news, saying revenue this year should still be between $33.5 billion and $34.5 billion. Adjusted EBITDA is still expected to settle between $6.2 billion and $6.5 billion.
HCA’s shares fell more than 4 percent to $36.72 at the close of the bell yesterday.
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