Earnings per share and revenue grew year over year, but HCA’s 2023 guidance fell short of analyst expectations.
HCA Healthcare—a Nashville-based healthcare provider operating 182 hospitals and 2,300 ambulatory sites of care—has reported its financial results for the 2022 fourth quarter, which showed a year-over-year rise in revenue and net income.
For the fourth quarter of 2022, HCA Healthcare reported revenue of $15.49 billion, versus $15.06 billion for the same period in 2022. Net income grew to $2.08 billion, or $7.28 per diluted share, compared to $1.81 billion, or $5.75 per diluted share for the 2021 fourth quarter.
"The last three years have been an extraordinary experience for everyone at HCA Healthcare," Sam Hazen, CEO of HCA Healthcare, said in the earnings report. "It was truly a challenge like no other, but I strongly believe that our board, our management teams, and our caregivers have shined through it all."
Despite the year-over-year growth, HCA Healthcare’s 2023 guidance came in below analysts’ expectations, though EPS for the quarter beat projections. The FactSet consensus for EPS in the 2022 fourth quarter was $4.79, according to MarketWatch. Analysts anticipated revenue of $15.6 billion for the quarter.
Looking ahead to the 2023 full fiscal year, HCA Healthcare said it expects revenue to range between $61.5 billion and $63.5 billion, earnings between $4.5 billion and $4.9 billion; and earnings per share between $16.40 and $17.60. FactSet analysts were looking for EPS guidance of $18.17 for fiscal 2023, according to MarketWatch.
Amanda Schiavo is the Finance Editor for HealthLeaders.