The provider has raised its full-year 2023 guidance estimates.
HCA Healthcare posted its financial results for the first quarter of 2023, with figures coming in higher than analysts expected thanks to an increase in same-facility admissions, emergency room visits, and surgeries.
Revenues in the first quarter of 2023 increased to $15.6 billion, compared to $14.9 billion in the first quarter of 2022. Net income attributable to HCA Healthcare totaled $1.4 billion, or $4.85 per diluted share, compared to $1.3 billion, or $4.14 per diluted share, in the first quarter of 2022. FactSet analysts were expecting earnings per share of $3.91 and $15.3 billion in revenue for the 2023 first quarter, according to MarketWatch.
"Once again, this quarter, our colleagues demonstrated a remarkable ability to adapt and deliver value across all of our stakeholder groups. Their efforts produced solid results that reflected strong demand for our services," Sam Hazen, Chief Executive Officer of HCA Healthcare, said in the earnings report. "Additionally, the investments we continued to make in our colleagues through various programs contributed to further improvements in key metrics. I want to thank them for their dedication, their hard work, and their overall effectiveness in providing high-quality care in the communities we serve."
HCA has revised its guidance for the 2023 full year. Revenues are expected to range between $62.5 billion and $64.5 billion, compared to previous guidance between $61.5 billion and $63.5 billion. Net income attributable to HCA Healthcare for the year is estimated to be between $4.8 billion and $5.2 billion, versus the previously estimated range of $4.5 billion and $4.9 billion.
The positive earnings results caused a spike in HCA Healthcare’s stock price.
Amanda Schiavo is the Finance Editor for HealthLeaders.