HCA Healthcare Sees Easing Staffing Challenges As Q1 Earnings Beat Consensus, Lifts Annual Guidance - HCA Healthcare (NYSE:HCA)

HCA Healthcare Inc HCA has reported Q1 FY23 revenues of $15.59 billion, compared to $14.94 billion a year ago, missing the consensus of $15.27 billion.
EPS of $4.93 was higher than the $4.12 reported a year ago, surpassing the estimate of $3.93.
Same-facility admissions increased by 4.4% Y/Y, and equivalent admissions increased by 7.5%.
HCA's inpatient surgery cases increased by 2.8%, and outpatient surgery cases climbed by 3.5%.
COVID-19 represented 3.1% of same-facility admissions in the first quarter of 2023 versus 9.7% a year ago.
Also Read: Hospital Facilities To Face Slower Earnings Growth In 2023, Analyst Says While Initiating Coverage On Two Large Stocks.
HCA saw a moderation of its staffing costs, with salaries and benefits expenses accounting for 45.4% of its revenue versus 46.4% a year ago.
For Q1 2023, Adjusted EBITDA totaled $3.172 billion, compared to $2.944 billion in the first quarter of 2022.
Cash flows from operating activities totaled $1.8 billion.
Outlook: For FY23, HCA Healthcare raised revenues guidance to $62.5-$64.5 billion from $61.5-63.5 billion compared to the consensus Of $62.61 billion.
The company forecasts EPS Of $17.25-$18.55, up from $16.40-$17.60 versus the consensus of $17.25.
Price Action: HCA shares are up 5.31% at $285.15 during the premarket session on the last check Friday.

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