Benzinga - by Vandana Singh, Benzinga Editor.
HCA Healthcare Inc (NYSE:HCA) reported on Friday its first-quarter revenues of $17.34 billion, up from $15.59 billion a year ago, beating the consensus of $16.78 billion.
The hospital chain reported adjusted EPS of $5.36, up from $4.93 a year ago, beating the consensus of $5.36.
“The strong fundamentals we saw in our business this past year continued into the first quarter of 2024. This momentum generated strong financial results that were driven primarily by broad-based volume growth,” said Sam Hazen, chief executive officer of HCA Healthcare.
Same-facility admissions increased 6.2% Y/Y, while same-facility equivalent admissions increased 5.2% in the first quarter of 2024.
Same facility emergency room visits increased by 7.2%; same-facility inpatient surgeries increased 1.7% and same-facility outpatient surgeries declined 2.1%; and same facility revenue per equivalent admission increased by 3.5%
For the first quarter of 2024, adjusted EBITDA totaled $3.35 billion, compared to $3.17 billion in the first quarter of 2023.
Guidance: HCA Healthcare reaffirmed 2024 revenue guidance of $67.75 billion-$70.25 billion versus consensus of $69.12 billion.
The company reaffirmed 2024 EPS guidance of $19.70-$21.20 versus consensus of $20.68.
Reuters highlighted that at least two analysts said the maintained outlook may disappoint investors after HCA reported better-than-expected results.
Citing Stephens analyst, Reuters noted the forecast “likely reflects a conservative posture” by HCA.
HCA Price Action: HCA Healthcare shares are down 4.76% at $299.18 at publication Friday.
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