HCA Healthcare Q3 Earnings: Revenue And Profit miss, Sees Hurricane Impact on Q4 and FY25 Earnings Growth

On Tuesday, HCA Healthcare Inc. HCA reported third-quarter revenues of $17.49 billion, up 7.9% year-over-year, slightly missing the consensus of $17.54 billion.

The hospital chain reported adjusted EPS of $4.90, up from $3.91 a year ago, missing the consensus of $4.96.

In the third quarter of 2024, same-facility admissions increased 4.5% year over year, while same-facility equivalent admissions increased 4.5%.

Same-facility emergency room visits increased by 4.6%, same-facility inpatient surgeries increased by 1.6%, and same-facility outpatient surgeries declined by 2.0%.

Same facility revenue per equivalent admission increased by 2.5%.

For the third quarter of 2024, adjusted EBITDA totaled $3.27 billion, compared to $2.88 billion a year ago.

Guidance: HCA Healthcare reaffirmed its 2024 estimated guidance ranges. Given the ongoing impact of the two major hurricanes on the remainder of the year, the company estimates that results will likely be in the lower half of the ranges provided.

During its second-quarter earnings release, the company revised its fiscal year 2024 revenue guidance to $69.75 billion—$71.75 billion, compared to prior guidance of $67.75 billion—$70.25 billion and the consensus of $70.91 billion.

The company forecasts 2024 EPS guidance of $21.60-22.80, up from the prior guidance of $19.70-$21.20 and the consensus of $22.62.

The company expects 2024 adjusted EBITDA of $12.85 billion—$13.55 billion, versus the prior guidance of $13.75 billion—$14.25 billion.

During the fourth quarter of 2024, the company anticipates ongoing additional expenses and revenue losses due to Hurricane Helene's impact on its North Carolina facilities and Hurricane Milton, which impacted certain facilities in Florida during October, of approximately $200 to $300 million, or $0.60 to $0.90 per diluted share.

HCA Healthcare anticipates some ongoing impact in 2025 from Hurricane Helene on its North Carolina facilities.

The company believes these ongoing effects will be manageable and expects 2025 diluted EPS and Adjusted EBITDA growth to be near or slightly above the upper end of its long-term growth ranges.

Price Action: HCA Healthcare stock is down 8.95% at $363.19 during the premarket session at last check Friday.

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