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HCA Healthcare, Inc. (HCA - Free Report) reported third-quarter 2017 adjusted earnings of $1.21 per share, which came in line with the Zacks Consensus Estimate. The bottom line declined nearly 25% year over year.
HCA Holdings, Inc. Price, Consensus and EPS Surprise
Improvement in revenues was offset by an increase in expenses. Shares were down 0.07% in pre-market trading.
HCA Healthcare posted revenues of $10.7 billion, almost in line with the Zacks Consensus Estimate. The reported figure was up 3.9% from the year-ago quarter.
Provision for doubtful accounts surged 51% year over year to $1.3 million.
Quarterly Details
Adjusted EBITDA totaled $1.8 billion, up 9.2% year over year.
Same facility equivalent admissions inched up 0.3% year over year, while same facility admissions nudged up 0.6%. Same facility revenue per equivalent admission increased 2%.
Salaries and benefits, supplies and other operating expenses increased 7.2% year over year to $8.9 billion.
As of Sep 30, 2017, HCA Healthcare ran 177 hospitals and 119 free-standing surgery centers.
Financial Update
As of Sep 30, 2017, the company had cash and cash equivalents of $718 million, total debt of $32.6 billion and total assets of $35.7 billion.
During the reported quarter, capital expenditures totaled $729 million, excluding acquisitions. Cash flows provided by operating activities totaled $1 billion, down 16.4% year over year.
As of Sep 30, 2017, the company’s total debt/adjusted EBITDA was 4.1x compared with 3.8x as of Dec 31, 2016.
During the quarter under review, the company spent $509 million to buy back 6.3 million shares. The board of directors approved an additional share repurchase program for up to $2 billion.
Following the latest authorization, the company has about $2.2 million remaining under its existing repurchase authorization as of Oct 31, 2017.
Guidance
The company expects 2017 revenues in the range of $43-$44 billion, adjusted EBIDTA of $8-$8.2 billion, EPS of $6.45-$6.70 and capital expenditures of about $3 billion.
Zacks Rank and Performance of Other Companies From Medical Sector
HCA Healthcare presently carries a Zacks Rank #5 (Strong Sell).
AbbVie Inc. (ABBV - Free Report) , ABIOMED, Inc. and Abbott Laboratories (ABT - Free Report) have surpassed their respective Zacks Consensus Estimate during the last quarter.
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Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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HCA Healthcare (HCA) Posts In-Line Q3 Earnings, Keeps View
HCA Healthcare, Inc. (HCA - Free Report) reported third-quarter 2017 adjusted earnings of $1.21 per share, which came in line with the Zacks Consensus Estimate. The bottom line declined nearly 25% year over year.
HCA Holdings, Inc. Price, Consensus and EPS Surprise
HCA Holdings, Inc. Price, Consensus and EPS Surprise | HCA Holdings, Inc. Quote
Improvement in revenues was offset by an increase in expenses. Shares were down 0.07% in pre-market trading.
HCA Healthcare posted revenues of $10.7 billion, almost in line with the Zacks Consensus Estimate. The reported figure was up 3.9% from the year-ago quarter.
Provision for doubtful accounts surged 51% year over year to $1.3 million.
Quarterly Details
Adjusted EBITDA totaled $1.8 billion, up 9.2% year over year.
Same facility equivalent admissions inched up 0.3% year over year, while same facility admissions nudged up 0.6%. Same facility revenue per equivalent admission increased 2%.
Salaries and benefits, supplies and other operating expenses increased 7.2% year over year to $8.9 billion.
As of Sep 30, 2017, HCA Healthcare ran 177 hospitals and 119 free-standing surgery centers.
Financial Update
As of Sep 30, 2017, the company had cash and cash equivalents of $718 million, total debt of $32.6 billion and total assets of $35.7 billion.
During the reported quarter, capital expenditures totaled $729 million, excluding acquisitions. Cash flows provided by operating activities totaled $1 billion, down 16.4% year over year.
As of Sep 30, 2017, the company’s total debt/adjusted EBITDA was 4.1x compared with 3.8x as of Dec 31, 2016.
During the quarter under review, the company spent $509 million to buy back 6.3 million shares. The board of directors approved an additional share repurchase program for up to $2 billion.
Following the latest authorization, the company has about $2.2 million remaining under its existing repurchase authorization as of Oct 31, 2017.
Guidance
The company expects 2017 revenues in the range of $43-$44 billion, adjusted EBIDTA of $8-$8.2 billion, EPS of $6.45-$6.70 and capital expenditures of about $3 billion.
Zacks Rank and Performance of Other Companies From Medical Sector
HCA Healthcare presently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
AbbVie Inc. (ABBV - Free Report) , ABIOMED, Inc. and Abbott Laboratories (ABT - Free Report) have surpassed their respective Zacks Consensus Estimate during the last quarter.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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