Q3 2024 HCA Healthcare Inc Earnings Call Transcript
Key Points
- HCA Healthcare Inc (HCA) reported strong financial results for the third quarter, with a 25% increase in diluted earnings per share to $4.90, despite the impact of hurricanes.
- The company experienced solid revenue growth of 7.9% year-over-year, driven by strong volume growth across most service lines.
- Inpatient admissions and emergency room visits both grew by 4.5% and 4.6% respectively, indicating robust demand for healthcare services.
- HCA Healthcare Inc (HCA) continues to invest in network development, expecting to add approximately 600 inpatient beds and 100 new outpatient facilities by the end of the year.
- The company maintains a strong balance sheet, with cash flow from operations at $3.5 billion in the quarter and a low debt to adjusted EBITDA leverage ratio.
- HCA Healthcare Inc (HCA) faced significant challenges due to two major hurricanes, resulting in an estimated $0.15 per share impact in the third quarter and expected additional expenses and lost revenue of $200 million to $300 million in the fourth quarter.
- The company anticipates ongoing hurricane-related impacts into 2025, particularly affecting hospitals in North Carolina and Florida.
- Outpatient surgery volumes declined by 2%, although revenue in this service line increased due to higher acuity and payer mix.
- Medicaid admissions decreased by 8.5% on a same-facility basis, reflecting challenges in this payer category.
- The company expects its 2024 results to be in the lower half of its guidance ranges due to the hurricane impacts.
Hello. Welcome to the HCA Healthcare third-quarter 2024 earnings conference call. Today's call is being recorded.
At this time, for opening remarks and introductions, I would like to turn the call over to the Vice President of Investor Relations, Mr. Frank Morgan. Please go ahead, sir.
Good morning, and welcome to everyone on today's call. With me this morning is our CEO, Sam Hazen; and CFO, Mike Marks. Sam and Mike will provide some prepared remarks and then we'll take questions.
Before I turn the call over to Sam, let me remind everyone that should today's call contain any forward-looking statements that are based on management's current expectations, numerous risks, uncertainties, and other factors may cause actual results to differ materially from those that might be expressed today, more information on forward-looking statements and these factors are listed in today's press release and in our various SEC filings.
On this morning's call, we may reference
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