Market Updates
HCA Healthcare Lowers Annual Outlook, Higher Labor Costs Depress Quarterly Earnings
Bridgette Randall
23 Apr, 2022
New York City
HCA Healthcare said first quarter 2022 revenues increased 7% to $14.9 billion, net income declined 8.4% to $1.3 billion, and diluted earnings per share was $.412 compared to $4.14 a year ago.
In the quarter, the company operated 182 hospitals with 48,892 beds available for the service. Number of equivalent admissions increased 3.5% to 859,290 and revenue per admission increased 3.6% to $17,392.
Average length of stay was stable at 5.29 days and occupancy based on weighted average beds in service increased to 71.3% from 70.1%.
Emergency room visits increased 11.7% from a year ago to 2.06 million.
Outlook and Guidance
The hospital operator lowered its full year earnings and revenues range.
The annual revenues range was revised down to between $59.5 billion to $61.5 billion from the previous estimate of $60 billion to $62 billion.
Annual net income attributable to shareholders range was revised down to between $4.95 billion and $5.34 billion from the previous estimated range between $5.55 billion and $5.83 billion.
The diluted earnings per share range was revised lower between $16.40 and $17.60 from $18.40 to $19.20.
The company announced a quarterly dividend of 56 cents a share payable on June 20, 2022 to shareholders of record at the close of business on June 16, 2022.
Annual Returns
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Earnings
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