HCA Healthcare Says Hurricane Ian Impacted Q3 Earnings

HCA Healthcare Inc HCA has reported Q3 FY22 revenues of $14.97 billion, compared to $15.27 billion a year ago, marginally missing the consensus of $15.00 billion.
EPS of $3.93, lower than the $4.57 reported a year ago, surpasses the estimate of $3.88.
Net income almost halved from $2.27 billion a year ago to $1.13 billion.
The company said Q3 results include Hurricane Ian’s impact, primarily on Florida facilities, causing additional expenses and lost revenues estimated at $35 million.
Same-facility admissions decreased 1.5% Y/Y, and equivalent admissions increased 2.3%.
Significantly higher COVID-19 volumes impacted Y/Y comparisons in the prior year when COVID-19 represented 12.7% of same-facility admissions versus 5.2% in the current quarter.
Same facility revenue per equivalent admission decreased 3.5%.
Same-facility emergency room visits decreased by 1.3%, inpatient surgeries increased 5.6%, and outpatient surgeries increased 2%.
Adjusted EBITDA totaled $2.9 billion, compared to $3.22 billion in Q3 FY21.
Price Action: HCA shares are down 4.13% at $200.00 during the premarket session on the last check Friday.

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