Summary
HCA Healthcare, Inc. reported a revenue increase of 6.9% to $14.945 billion for the first quarter of 2022, compared to $13.977 billion in the prior year period. This growth was driven by a combination of increased revenue per equivalent admission and higher equivalent admissions. However, net income attributable to HCA Healthcare, Inc. saw a decrease of 10.6% to $1.273 billion ($4.14 per diluted share) from $1.423 billion ($4.14 per diluted share) in the first quarter of 2021. The company experienced an increase in operating expenses, particularly in salaries and benefits, which rose as a percentage of revenue, and other operating expenses impacted by inflation. Despite the decline in net income, the company demonstrated robust activity in managing its capital structure. HCA Healthcare repurchased approximately $2.1 billion of its common stock in the quarter and issued $6 billion in senior secured notes. Cash flow from operations decreased significantly primarily due to changes in working capital, including a payment for deferred payroll taxes. Management believes existing liquidity and access to capital markets are sufficient to meet its needs over the next 12 months.
Financial Highlights
46 data points| Revenue | $14.95B |
| Operating Expenses | $13.13B |
| Interest Expense | $408.00M |
| Net Income | $1.27B |
| EPS (Basic) | $4.21 |
| EPS (Diluted) | $4.14 |
| Shares Outstanding (Basic) | 302.45M |
| Shares Outstanding (Diluted) | 307.37M |
Key Highlights
- 1Revenue increased by 6.9% year-over-year to $14.945 billion, driven by higher revenue per equivalent admission and increased admissions.
- 2Net income attributable to HCA Healthcare, Inc. decreased by 10.6% to $1.273 billion, or $4.14 per diluted share, compared to the prior year.
- 3Operating expenses rose, with salaries and benefits increasing as a percentage of revenue and other operating expenses impacted by inflation.
- 4Cash flow from operations declined by $643 million due to negative working capital changes, including a $344 million payment for deferred payroll taxes.
- 5The company actively managed its capital structure, repurchasing $2.101 billion of common stock and issuing $6 billion in senior secured notes during the quarter.
- 6Same facility revenues increased by 7.8%, indicating continued growth in core operations.
- 7Emergency department visits and outpatient surgeries saw significant increases, up 11.7% and 7.0% respectively on a consolidated basis.