HCA Healthcare Reports Third Quarter 2024 Financial Results
HCA Healthcare, Inc. (NYSE: HCA) has announced its financial and operating results for the third quarter, ending September 30, 2024.
1. Key Financial Metrics
| Metric | 3Q 2024 | 3Q 2023 | Year-over-Year Change |
|---|---|---|---|
| Total Revenue | $17.487 billion | $16.213 billion | +7.86% |
| Earnings Per Share (EPS) | $4.88 | $3.91 | +24.55% |
| Adjusted EBITDA | $3.267 billion | $2.880 billion | +13.44% |
Interpretation: HCA Healthcare witnessed a strong year-over-year growth in total revenue and earnings per share. Revenues grew by 7.86%, reflecting increased patient admissions and effective operational management despite adverse impacts from Hurricane Helene.
2. Segment Performance
The report does not provide specific guidance-based segment data, so segment breakdown and comparison against guidance are not applicable.
Interpretation: While specific segmental performance is not disclosed, the overall increase in facility admissions indicates broad-based growth across various service lines.
3. Key Developments & Operational Highlights
- Impact of Hurricane Helene resulted in additional expenses and revenue loss estimated at $50 million, or $0.15 per diluted share.
- Cash Flows : Operational cash flows totaled $3.515 billion, up from $2.479 billion in the previous year.
- Share Repurchase : Repurchased 4.948 million shares at $1.795 billion; $2.433 billion remains under repurchase authorization.
- Dividend Declaration : A quarterly cash dividend of $0.66 per share declared, payable on December 27, 2024.
4. CEO Commentary
Sam Hazen, CEO of HCA Healthcare, acknowledged the significant challenges posed by two major hurricanes during the quarter, emphasizing the company's commitment to patient care and safety. Through dedicated efforts, HCA maintained operational stability and demonstrated resilience.
5. Dividends & Share Repurchase
The company announced a quarterly cash dividend of $0.66 per share, consistent with its ongoing shareholder return strategy, alongside an active share repurchase program with $2.433 billion remaining authorized.
6. Forward Guidance
HCA reaffirmed its 2024 earnings guidance but hinted that results might trend towards the lower half of target ranges due to ongoing hurricane impacts. Initial forecasts for 2025 suggest that earnings per share and Adjusted EBITDA growth may exceed long-term growth ranges.
7. Stock Price Movement
Following the earnings announcement, HCA's stock experienced a decline, with a post-event share price change of -5.54%.
The report highlights HCA Healthcare's continued growth trajectory and robust financial performance amidst challenging circumstances, underpinning its commitment to strategic shareholder returns and operational excellence.
For more in-depth analysis and insights, stay tuned with our platform to stay ahead of the market.
