:max_bytes(150000):strip_icc()/GettyImages-1232488471-520ed7620c944da7bd8b8606da67fdc2.jpg "HCA Healthcare Stock Price Hits All-Time High as Earnings Top Estimates")
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Key Takeaways
- HCA Healthcare had more patients use its facilities, which helped push sales and profits for the second quarter above forecasts.
- Same-facility admissions, emergency room visits, and inpatient surgeries all rose for HCA Healthcare versus a year ago, although same-facility outpatient surgeries fell, the company reported.
- HCA Healthcare raised its full-year adjusted earnings per share and revenue guidance.
- HCA shares hit a record intraday high in early trading Tuesday.
HCA Healthcare (HCA) shares jumped to an all-time high Tuesday after the health-care services provider posted better-than-expected earnings and boosted its guidance, as the company reported bringing in more patients.
The company posted second-quarter adjusted earnings per share (EPS) of $5.53, well above the average of $4.86 estimated by analysts surveyed by Visible Alpha. Revenue was up 10.3% to $17.49 billion, also higher than expected.
Company Boosts Full-Year Guidance
Same-facility admissions rose 5.8% year-on-year, HCA Healthcare said. Same-facility emergency room visits rose by 5.5%, and same-facility inpatient surgeries increased 2.6%. However, same-facility outpatient surgeries declined 2.1%.
The company boosted its full-year adjusted EPS outlook to a range of $21.60 to $22.80, up from $19.70 to $21.20. It sees the year’s revenue at $69.75 billion to $71.75 billion, up from $67.75 billion to $70.25 billion.
Shares of HCA Healthcare were up 4.2% at 338.95 in late trading, after hitting an all-time intraday high of $348.00 early in the session. The stock’s record closing high of $343.29 was recorded in late June.