HCA Healthcare's (HCA) Q2 Earnings Miss Estimates, Down Y/Y
Have you been eager to see how HCA Healthcare, Inc. HCA performed in Q2 in comparison with the market expectations?
Let’s quickly scan through the key facts from this leading hospital company’s earnings release this morning.
Earnings Miss Estimates
HCA Healthcare reported second quarter 2019 adjusted earnings of $2.21 per share, missing the Zacks Consensus Estimate by 11.2%. Moreover, the bottom line declined 3.5% year over year.
HCA Healthcare, Inc. Price, Consensus and EPS Surprise
HCA Healthcare, Inc. price-consensus-eps-surprise-chart | HCA Healthcare, Inc. Quote
How Was the Estimate Revision Trend?
You should note that the earnings estimate for HCA Healthcare depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained unchanged at $10.40 per share over the last seven days.
Revenue Miss Estimates
HCA Healthcare generated revenues of $12.6 billion, missing the Zacks Consensus Estimate by 0.2%. However, the same was up 9.3% year over year.
Key Stats to Note
Same facility admissions and equivalent admissions was up, by 2.1% and 2.6%, respectively in the quarter under review. Same facility revenue per equivalent admission grew 1.7% year over year.
Expenses increased nearly 10.6% year over year to $10.3 billion.
Adjusted EBITDA totaled $2.2 billion, up 3% year over year.
As of Jun 30, 2019, HCA operated 184 hospitals and around 2000 sites of care including surgery centers, freestanding emergency rooms, urgent care centers and physician clinics.
Guidance Revised
The company expects revenues for 2019 to be in the band of $50.5 to $51.5 billion. Adjusted EBITDA is projected in between $9.60 and $9.85 billion, up from the prior projection of 9.45 and $9.85 billion. EPS of the company is expected to be in between $10.25 to $10.65, up from the prior projection of $9.80-$10.40 per share.
What Zacks Rank Says
HCA Healthcare carries a Zacks Rank #1 (Strong Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Check back later for our full write up on this HCA Healthcare earnings report!
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