Summary
HCA Healthcare, Inc. reported strong financial performance for the first quarter of 2024, with revenues increasing by 11.2% year-over-year to $17.339 billion. This growth was driven by a 7.1% increase in equivalent admissions and a 3.9% rise in revenue per equivalent admission, indicating robust patient volume and effective pricing strategies. Net income attributable to HCA Healthcare, Inc. rose by 16.7% to $1.591 billion, or $5.93 per diluted share, demonstrating improved profitability. The company also reported a significant increase in cash flow from operations, which grew by $666 million to $2.469 billion, primarily due to favorable working capital changes and higher net income. Despite significant planned capital expenditures of $5.1 billion to $5.3 billion for 2024, HCA Healthcare maintains a solid liquidity position, with substantial amounts available under its senior secured credit facilities. The company continued its commitment to shareholder returns through active share repurchases and dividend payments.
Financial Highlights
46 data points| Revenue | $17.34B |
| Operating Expenses | $15.09B |
| Interest Expense | $512.00M |
| Net Income | $1.59B |
| EPS (Basic) | $6.01 |
| EPS (Diluted) | $5.93 |
| Shares Outstanding (Basic) | 264.44M |
| Shares Outstanding (Diluted) | 268.02M |
Key Highlights
- 1Revenues grew 11.2% year-over-year to $17.339 billion in Q1 2024, driven by increased patient volumes (7.1% rise in equivalent admissions) and improved revenue per admission (3.9% increase).
- 2Net income attributable to HCA Healthcare, Inc. increased 16.7% to $1.591 billion, or $5.93 per diluted share, showcasing enhanced profitability.
- 3Cash flow from operating activities saw a significant increase of $666 million, reaching $2.469 billion in Q1 2024, boosted by working capital improvements.
- 4The company repurchased $1.180 billion of its common stock in Q1 2024, signaling confidence and commitment to shareholder value.
- 5Planned capital expenditures for 2024 are substantial, projected between $5.1 billion and $5.3 billion, indicating ongoing investment in facilities and services.
- 6Other operating expenses as a percentage of revenue increased to 20.9% from 18.7% in the prior year, primarily due to higher professional fees and state provider fees, with management expecting continued inflationary pressures.
- 7The company's payer mix shows continued reliance on managed care and insurers (49.2% of revenue), with a slight increase in Medicaid and Managed Medicare contributions.