HCA Healthcare, Inc. (NYSE: HCA) reported its financial and operational results for Q2 2024, ending June 30, 2024. Here are the key highlights:
Second Quarter Highlights:
- Revenues: $17.492 billion, up from $15.861 billion in Q2 2023
- Net Income: $1.461 billion ($5.53 per diluted share), compared to $1.193 billion ($4.29 per diluted share) in Q2 2023
- Adjusted EBITDA: $3.550 billion, up from $3.056 billion in Q2 2023
- Operating Cash Flow: $1.971 billion
- Admissions: Same facility admissions rose by 5.8%, and equivalent admissions increased by 5.2%
- Emergency Room Visits: Increased by 5.5%
- Inpatient Surgeries: Up by 2.6%
- Outpatient Surgeries: Down by 2.1%
Six-Month Summary:
- Revenues: $34.831 billion, up from $31.452 billion in the same period last year
- Net Income: $3.052 billion ($11.47 per diluted share), compared to $2.556 billion ($9.14 per diluted share) in the first half of 2023
- Facility Sales: Gains of $213 million, or $0.61 per diluted share
Balance Sheet & Cash Flow:
- Cash & Cash Equivalents: $831 million
- Total Debt: $40.880 billion
- Total Assets: $57.379 billion
- Capital Expenditures: $1.281 billion
- Share Repurchases: 4.217 million shares for $1.367 billion
- Remaining Repurchase Authorization: $4.228 billion
- Credit Facilities Availability: $7.137 billion
Dividend Declaration:
- Quarterly Dividend: $0.66 per share, payable on September 30, 2024, to shareholders of record on September 16, 2024
Revised 2024 Guidance:
- Revenues: $69.750 to $71.750 billion (up from $67.750 to $70.250 billion)
- Net Income: $5.675 to $5.975 billion (up from $5.200 to $5.600 billion)
- Adjusted EBITDA: $13.750 to $14.250 billion (up from $12.850 to $13.550 billion)
- EPS (Diluted): $21.60 to $22.80 per share (up from $19.70 to $21.20 per share)
- Capital Expenditures: Estimated at $5.1 to $5.3 billion
Outlook:
The revised guidance reflects expectations regarding patient volumes, payor mix, and economic conditions. It excludes impacts from facility sales, debt retirement, legal claims, and asset impairments.
Earnings Conference Call:
A live webcast of the investor conference call will be available at 9:00 a.m. Central Time today, with a replay accessible later in the day.
