HCA Healthcare Shares Gain As Rebound In Services Demand Lift Q2 Earnings, Raises FY21 Forecast

HCA Healthcare Inc HCA shares are rising after reporting 2Q earnings that easily beat the consensus. Revenues increased to $14.4 billion, compared to $11.1 billion a year ago and ahead of the $13.61 billion consensus.
EPS of $4.36, higher than $3.16 reported in 3Q of 2020, surpassed the estimate of $3.16.
As vaccination programs helped moderate COVID-19-related restrictions, the hospital chain firm experienced a rebound in demand for healthcare services.
Same facility admissions increased 17.5% Y/Y and same facility equivalent admissions increased 26.8%.
Same facility revenue per equivalent admission increased 2.6%.
Adjusted EBITDA totaled $3.2 billion.
FY 2021 Guidance: The Company raised revenue outlook to $57.0 to $58.0 billion from $54.0 to $55.5 billion guided in the Q1 earnings release, higher the consensus of $55.3 billion.
It expects adjusted EBITDA of $12.10 to $12.50 billion higher than $10.85 to $11.35 billion guided earlier.
HCA sees EPS of $16.30 to $17.10 compared to $13.30 to $14.30 previously guided vs. $14.08 estimate.
HCA declared a quarterly dividend of $0.48 per share payable on September 30, with a record date of September 16.
Price Action: HCA shares are up 5.6% at $230 during the premarket session on the last check Tuesday.

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