HCA Healthcare's (HCA) Q2 Earnings and Revenues Top Estimates

HCA Healthcare, Inc.’s  HCA  second-quarter 2021 adjusted earnings of $4.37 per share beat the Zacks Consensus Estimate of $3.17 by 37.9%. The bottom line also improved 191.3% year over year on higher revenues.

The company witnessed solid patient volumes in the quarter.

HCA Healthcare, Inc. Price, Consensus and EPS Surprise HCA Healthcare, Inc. Price, Consensus and EPS Surprise

HCA Healthcare, Inc. price-consensus-eps-surprise-chart | HCA Healthcare, Inc. Quote

Quarterly Details

HCA Healthcare’s revenues of $14.35 billion beat the Zacks Consensus Estimate by 6.1%. The top line also improved 30.4% from the year-ago period’s figure.

Same facility equivalent admissions increased 26.8% year over year while same facility admissions rose 17.5% year over year. Same facility revenue per equivalent admission grew 2.6% year over year in the quarter.

Same facility inpatient surgeries and same facility outpatient surgeries rose 15% and 52.5%, respectively, year over year. These upsides were mainly on the back of solid recoveries on volume statistics.

Salaries and benefits, supplies and other operating expenses were up 19.8% year over year to $6.3 billion on higher supplies and other operating expenses.

Adjusted EBITDA totaled $3.219 billion, up 20.7% year over year.

As of Jun 30, 2021, HCA Healthcare operated 187 hospitals and approximately 2,000 sites of care.

Financial Update (as of Jun 30, 2021)

Total assets came in at $48.164 billion, up 1.4% from the level at 2020 end.

Total debt of $32.3 billion increased 4.9% from the level at 2020 end.

In the reported quarter, capex came in at $842 million minus acquisitions.

Cash flows used in operating activities were $2.251 billion compared with the year-ago period’s figure of $8.723 billion.

2021 Guidance

The company upped 2021 guidance following solid second-quarter results.
Management expects annual revenues in the band of $57-$58 billion.

Adjusted EBITDA  is estimated to be $12.10-$12.50 billion.

Capex of the company is expected at $3.7 billion.

EPS of the company is projected at $16.30-$17.10 per share.

Share Repurchase and Dividend Update

The company’s board of directors recently resumed its share buyback policy, pertaining to which $2.287 billion was available for repurchase before its withdrawal.

HCA Healthcare announced a quarterly cash dividend of 48 cents per share on its common stock. The dividend is payable Sep 30, 2021 to its shareholders of record on Sep 16, 2021. 

Zacks Rank & Peer Releases

HCA Healthcare currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

A player from the medical space that already reported second-quarter earnings is UnitedHealth Group Incorporated UNH, which beat on earnings.

Stocks to Consider

Here are some stocks worth considering from the medical sector with the perfect mix of elements to surpass estimates in their upcoming releases:

Community Health Systems, Inc. CYH has an Earnings ESP of +100.00% and a Zacks Rank of 3, currently. You can uncover the best stocks to buy or sell before they’re reported with our  Earnings ESP Filter.

MEDNAX, Inc. MD has an Earnings ESP of +0.50% and a Zacks Rank #2 (Buy), presently.

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