HCA Holdings 1Q income slides 36 percent

HCA Holdings 1st-quarter net income falls after patient admissions slowed

Associated Press

NASHVILLE, Tenn. (AP) -- Hospital operator HCA Holdings Inc. said Thursday that net income fell 36 percent in the first quarter on one-time charges and fewer admissions.

HCA said in April that inpatient admissions fell in the first quarter compared to last year, and outpatient volumes were weaker than it expected. It also said it will take $33 million in charges related to debt retirement and losses on facility sales.

The largest U.S. hospital chain made $344 million, or 74 cents per share, compared with $540 million, or $1.18 per share a year ago. Excluding one-time items, HCA made 79 cents per share in the recent quarter.

Revenue rose slightly to $8.44 billion from $8.4 billion.

Analysts expected 82 cents per share and $8.56 billion in revenue, according to FactSet.

HCA runs 162 hospitals and 113 surgery centers. The company is maintaining its full-year outlook, calling for adjusted earnings of $3 to $3.30 per share and $33.5 billion to $34.5 billion in revenue.

Analysts expect $3.13 per share on $34.01 billion in revenue.

HCA rose 66 cents to $40.15 in morning trading.

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