Summary
HCA Healthcare, Inc.'s (HCA) Q2 2022 filing shows a modest revenue increase of 2.7% to $14.82 billion, driven by a 4.2% rise in revenue per equivalent admission, despite a 1.5% decline in equivalent admissions. Net income attributable to HCA Healthcare, Inc. decreased by 20.3% to $1.155 billion, or $3.90 per diluted share, compared to $1.450 billion, or $4.36 per diluted share, in Q2 2021. This decline was impacted by losses on debt retirement and facility sales, as well as increased salaries and benefits, which rose as a percentage of revenue. The company continues to manage its significant debt load, which stood at $38.9 billion at the end of June 2022. Despite increased interest expenses, HCA maintains ample liquidity, with $2.725 billion available under its senior secured credit facilities. Management expressed confidence in their ability to meet liquidity needs through operating cash flows, credit facilities, and access to debt markets. The company also continued its share repurchase program, buying back $4.783 billion worth of stock in the first six months of 2022.
Financial Highlights
46 data points| Revenue | $14.82B |
| Operating Expenses | $13.06B |
| Interest Expense | $434.00M |
| Net Income | $1.16B |
| EPS (Basic) | $3.95 |
| EPS (Diluted) | $3.90 |
| Shares Outstanding (Basic) | 292.53M |
| Shares Outstanding (Diluted) | 296.06M |
Key Highlights
- 1Revenue increased by 2.7% year-over-year to $14.82 billion in Q2 2022, primarily due to higher revenue per equivalent admission (+4.2%).
- 2Net income attributable to HCA Healthcare, Inc. decreased by 20.3% to $1.155 billion ($3.90 per diluted share) compared to $1.450 billion ($4.36 per diluted share) in Q2 2021.
- 3Operating expenses, particularly salaries and benefits, rose as a percentage of revenue (45.8% vs. 44.2%), driven by labor costs and inflation.
- 4Cash flow from operations declined significantly, down $621 million in Q2 2022 compared to Q2 2021, largely due to changes in working capital.
- 5Total debt remained substantial at $38.9 billion as of June 30, 2022, with interest expense increasing in Q2 2022.
- 6HCA repurchased $4.783 billion of its common stock in the first six months of 2022, demonstrating a commitment to returning capital to shareholders.
- 7Despite a drop in net income, the company highlighted strong revenue growth on a same-facility basis (+4.0%) and continued investment in capital expenditures ($1.941 billion in H1 2022).