Stock Monitor: SunLink Health Systems Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 22, 2018 / If you want access to our free earnings report on HCA Healthcare, Inc. (NYSE: HCA), 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 first-quarter fiscal 2018 operating and financial results on May 01, 2018. The hospital operator outperformed top- and bottom-line expectations. Additionally, the Company provided guidance for the full year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
HCA Healthcare's revenues in the first quarter 2018 increased 8% to $11.42 billion compared to $10.62 billion in Q1 2017. The Company's reported numbers exceeded analysts' estimates of $11.27 billion.
During Q1 2018, HCA Healthcare's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) totaled $2.12 billion, up 5% compared to $2.01 billion in Q1 2017.
During Q1 2018, HCA Healthcare's same facility equivalent admissions and admissions increased 1.8% and 2.2% respectively, compared to the prior year's corresponding period. The Company's same facility emergency room visits increased 3.5% in the reported quarter.
For Q1 2018, HCA Healthcare's inpatient surgeries rose 0.3%, while outpatient surgeries declined 0.5%, on a same facility basis. The Company's same facility revenue per equivalent admission grew 3.9% in the reported quarter.
During Q1 2018, HCA Healthcare's salaries and benefits, supplies and other operating expenses totaled $9.314 billion, or 81.6% of revenues, compared to $8.628 billion, or 81.2% of revenues, in Q1 2017.
For Q1 2018, net income attributable to HCA Healthcare totaled $1.14 billion, or $3.18 per diluted share, compared to $659 million, or $1.74 per diluted share, in Q1 2017. The Company's reported quarter results include gains on sales of facilities of $405 million, or $0.85 per diluted share, primarily reflecting the sale of the Company's Oklahoma facilities. HCA Healthcare recognized a tax benefit of $92 million, or $0.26 per diluted share, in Q1 2018 compared to $67 million, or $0.18 per diluted share, in Q1 2017 related to employee equity award settlements.
On an adjusted basis, HCA Healthcare's reported net income totaled $2.33 per diluted share, up 34% compared to $1.74 per diluted share.
Balance Sheet and Cash Flow
As of March 31, 2018, HCA Healthcare's balance sheet reflected cash and cash equivalents of $1.09 billion, total debt of $33.29 billion, and total assets of $37.30 billion. During Q1 2018, the Company's capital expenditures totaled $694 million, excluding acquisitions.
For Q1 2018, HCA Healthcare's cash flows provided by operating activities totaled $1.30 billion compared to $1.28 billion in Q1 2017. As of March 31, 2018, the Company's leverage ratio as measured by total debt/adjusted EBITDA was 3.99x compared to 4.02x as of December 31, 2017.
During Q1 2018, HCA Healthcare repurchased 4.37 million shares of its common stock at a cost of $423 million. At March 31, 2018, the Company had $1.38 billion remaining under the existing $2.0 billion repurchase authorization. HCA Healthcare had 350.99 million shares outstanding as of March 31, 2018.
As of March 31, 2018, HCA Healthcare operated 178 hospitals and approximately 1,800 sites of care, including surgery centers, freestanding ERs, urgent care centers, and physician clinics in 20 states and the United Kingdom.
HCA Healthcare 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 June 29, 2018, to stockholders of record at the close of business on June 01, 2018.
For full-year 2018, HCA Healthcare is forecasting revenue in the range of $45.0 million to $46.0 million. The Company is expecting earnings in the range of $8.50 to $9.00 per diluted share, and adjusted EBITDA in the band of $8.45 billion to $8.75 billion.
Stock Performance Snapshot
May 21, 2018 - At Monday's closing bell, HCA Healthcare's stock advanced 1.00%, ending the trading session at $103.86.
Volume traded for the day: 1.35 million shares.
Stock performance in the last month – up 6.58%; previous three-month period – up 2.83%; past twelve-month period – up 26.43%; and year-to-date – up 18.24%
After yesterday's close, HCA Healthcare's market cap was at $36.68 billion.
Price to Earnings (P/E) ratio was at 12.65.
The stock has a dividend yield of 1.35%.
The stock is part of the Healthcare sector, categorized under the Hospitals industry. This sector was flat at the end of the session.
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