Free Post Earnings Research Report: HCA Healthcare’s Quarterly Revenue Grew 8.6%; Initiated Dividend
LONDON, UK / ACCESSWIRE / February 08, 2018 / Active-Investors.com has just released a free earnings report on HCA Healthcare, Inc. (NYSE: HCA). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HCA. HCA Healthcare reported its fourth quarter and fiscal 2017 operating and financial results on January 30, 2018. The Hospital Operator outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, HCA Healthcare most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
HCA Healthcare's revenues in Q4 2017 totaled $11.56 billion, up 8.6% compared to $10.64 billion in Q4 2016. The Company's reported quarter revenue growth was primarily driven by growth in same facility equivalent admissions and an increase in same facility revenue per equivalent admission. HCA Healthcare's reported numbers topped analysts' estimates of $11.22 billion.
HCA Healthcare's revenues for the year ended December 31, 2017, totaled $43.61 billion compared to $41.49 billion for FY16.
For Q4 2017, net income attributable to HCA Healthcare totaled $474 million, or $1.30 per diluted share, compared to $920 million, or $2.39 per diluted share, in Q4 2016. The Company's reported quarter results included a non-cash increase in the Company's provision for income taxes of $0.83 per diluted share, related to the estimated impact of the Tax Cuts and Jobs Act on its deferred tax assets and liabilities.
During Q4 2017, HCA Healthcare recognized gains on sales of facilities of $0.04 per diluted share, and legal claim benefits of $ $0.46 per diluted share. The Company recognized a tax benefit of $0.01 per diluted share, in Q4 2017 compared to a tax benefit of $0.09 per diluted share in Q4 2016 for excess tax benefits related to employee equity award settlements recorded as a component of the provision for income taxes. The Company's earnings, adjusted for pretax expenses, came in at $2.12 per share, which was ahead of Wall Street's expectations of $1.87 per share.
Net income attributable to HCA Healthcare was $2.22 billion, or $5.95 per diluted share, for FY17 compared to $2.89 billion, or $7.30 per diluted share, for FY16. The Company's FY17 results included a non-cash increase in the Company's provision for income taxes of $0.81 per diluted share, related to the estimated impact of the Tax Cuts and Jobs Act on HCA Healthcare's deferred tax assets and liabilities, additionally, they also include gains on sales of facilities of $0.01 per diluted share, and losses on retirement of debt of $0.06 per diluted share.
As of December 31, 2017, HCA Healthcare operated 179 hospitals and 120 freestanding surgery centers and numerous other healthcare facilities.
Operating Results
During Q4 2017, HCA Healthcare's same facility equivalent admissions grew 2.3% to 810,171 on a y-o-y basis, while its Same facility revenue per equivalent admission advanced 3.5% to $13,777 on a y-o-y basis. The Company's Same facility admissions increased 1.4% to 476,571, while same facility emergency room visits advanced 3.4% to 2.11 million.
In the reported quarter, HCA Healthcare's same facility inpatient surgeries increased 0.6% to 135,807 on a y-o-y basis, while same facility outpatient surgeries edged up 0.8% to 241,446. HCA Healthcare's same facility operating expense per equivalent admission increased 3.3% on a y-o-y basis. During Q4 2017, the Company's salaries and benefits, supplies and other operating expenses totaled $9.21 billion, or 79.7% of revenues, compared to $8.45 billion, or 79.4% of revenues, in Q4 2016.
Balance Sheet and Cash Flow
As of December 31, 2017, HCA Healthcare's balance sheet reflected cash and cash equivalents of $732 million, total debt of $33.06 billion, and total assets of $36.59 billion. During Q4 2017, the Company's capital expenditures totaled $982 million, excluding acquisitions.
HCA Healthcare repurchased 7.2 million shares of its common stock at a cost of $576 million in Q4 2017 and had $1.802 billion remaining on its $2 billion October 2017 authorization as of December 31, 2017. Net cash provided by operating activities in Q4 2017 totaled $1.73 billion compared to $1.70 billion in Q4 2016.
HCA Healthcare announced a planned increase in its 3-year capital expenditures program to pursue growth opportunities in its existing markets. The updated capital investment program is expected to approximate $10.5 billion over the next three years, up from the previous 3-year spending of approximately $8.2 billion.
HCA Healthcare also announced that its Board of Directors declared a quarterly cash dividend of $0.35 per share on the Company's common stock. The dividend will be paid on March 30, 2018, to stockholders of record at the close of business on March 01, 2018.
Stock Performance Snapshot
February 07, 2018 - At Wednesday's closing bell, HCA Healthcare's stock marginally declined 0.31%, ending the trading session at $98.40.
Volume traded for the day: 1.90 million shares.
Stock performance in the last month – up 13.43%; previous three-month period – up 28.01%; past twelve-month period – up 19.14%; and year-to-date – up 12.02%
After yesterday's close, HCA Healthcare's market cap was at $36.46 billion.
Price to Earnings (P/E) ratio was at 16.57.
The stock has a dividend yield of 1.42%.
The stock is part of the Healthcare sector, categorized under the Hospitals industry.
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