HCA Healthcare 3Q Revenue Increases; ER Visits Up Sharply

By Matt Grossman

HCA Healthcare Inc. Friday logged a rise in revenue in the third quarter as its hospitals faced a surge of patients battling Covid-19.

The Nashville, Tenn.-based hospital company posted third-quarter earnings of $7 a share, up from $1.95 a share in the same three-month period a year earlier. Analysts polled by FactSet had forecast earnings of $3.98 a share.

Net income attributable to the company rose to $2.27 billion, from $668 million a year earlier.

Gains on sales of facilities contributed $2.43 a share to the company's quarterly earnings, related to the sale of four hospitals in Georgia and other health care entity investments.

Revenue increased to $15.28 billion, from $13.31 billion in 2020's third quarter. Analysts were expecting revenue of $14.48 billion.

The third quarter brought the most intense patient surge of the Covid-19 pandemic to date, HCA said, as the virus's delta variant infected more people. Same-faculty equivalent admissions rose 9.3% year-over-year, and same-facility emergency-room visits were up 31%.

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(END) Dow Jones Newswires

October 22, 2021 07:33 ET (11:33 GMT)

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