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Sep 30, 2023
HCA Q3 2023 Earnings Report
HCA Healthcare's financial performance was solid, marked by strong revenue growth and increased admissions, but was unfavorably impacted by the Valesco physician staffing joint venture.
Key Takeaways
HCA Healthcare reported a revenue increase to $16.213 billion, up from $14.971 billion in Q3 2022. Net income attributable to HCA Healthcare, Inc. was $1.079 billion, or $3.91 per diluted share, which is slightly lower than the $1.134 billion reported in Q3 2022. The company revised its 2023 guidance for revenue, net income, and adjusted EBITDA.
Revenues totaled $16.213 billion, marking an increase from the previous year.
Net income attributable to HCA Healthcare, Inc. reached $1.079 billion, or $3.91 per diluted share.
Adjusted EBITDA amounted to $2.880 billion.
Same facility admissions increased by 3.4 percent, and same facility equivalent admissions rose by 4.1 percent.
HCA
HCA
Forward Guidance
HCA Healthcare revised its 2023 guidance, with revenue expected to be between $63.5 billion and $64.5 billion, net income attributable to HCA Healthcare, Inc. between $4.940 billion and $5.130 billion, and adjusted EBITDA between $12.3 billion and $12.6 billion.
Positive Outlook
- Revenue is expected to be between $63.5 billion and $64.5 billion.
- Net income attributable to HCA Healthcare, Inc. is projected to be between $4.940 billion and $5.130 billion.
- Adjusted EBITDA is anticipated to be between $12.3 billion and $12.6 billion.
- Diluted earnings per share are forecasted to be between $17.80 and $18.50.
- The guidance reflects current expectations regarding the impact of the COVID-19 pandemic, patient volumes, and payor mix.
Challenges Ahead
- Guidance is subject to uncertainties and risks, including economic conditions and changes in patient volumes.
- Potential impacts from changes in healthcare laws and regulations.
- The effects related to the implementation of sequestration spending reductions.
- Increases in the amount and risk of collectability of uninsured accounts.
- Personnel-related capacity constraints and the ability to retain qualified personnel.