Core Viewpoint - HCA Healthcare Inc. reported mixed financial results for the fourth quarter of 2025, with revenues slightly below expectations but adjusted earnings exceeding forecasts [1][2]. Financial Performance - Total revenues for HCA Healthcare in Q4 2025 were $19.513 billion, a 6.7% increase year-over-year, but below the consensus estimate of $19.67 billion [1]. - Adjusted earnings per share were $8.01, up from $6.22 a year ago, surpassing the consensus estimate of $7.43 [1]. Future Outlook - HCA Healthcare forecasts fiscal 2026 earnings per share in the range of $29.10 to $31.50, compared to the consensus estimate of $29.54 [2]. - The company anticipates 2026 sales between $76.5 billion and $80 billion, while the consensus is $79.08 billion [2]. Stock Performance - HCA Healthcare shares closed at $505.84 following the earnings announcement [3]. - Analysts have adjusted their price targets for HCA Healthcare after the earnings report [3].

Core Insights - HCA Healthcare reported fourth-quarter earnings of $8.01 per share, surpassing analyst expectations of $7.45, leading to a 6% increase in pre-market trading [1] - Revenue for the quarter was $19.51 billion, a 6.7% year-over-year increase, although it fell short of the forecasted $19.67 billion [1] Financial Performance - Same-facility admissions rose by 2.4% year-over-year, while equivalent admissions increased by 2.5% [2] - Revenue per equivalent admission grew by 2.9% year-over-year, indicating improved pricing trends [2] - Adjusted EBITDA increased by 10.8% to $4.11 billion, with margins expanding to 21.1% from 20.3% a year earlier [2] Future Outlook - HCA issued a positive outlook for 2026, projecting earnings between $29.10 and $31.50 per share, exceeding the analyst consensus of $27.70 [3] - The company also forecasts revenue between $76.5 billion and $80.0 billion, surpassing expectations of $75.74 billion [3]

Core Insights - HCA Healthcare reported a revenue increase of 6.7% year-over-year for Q4 2025, with net income rising nearly 31% and adjusted EBITDA increasing about 11% compared to the prior year [1][5][7] Financial Performance - The company achieved its 19th consecutive quarter of volume growth, with a record of approximately 47 million patient encounters in 2025 [2][5] - Full-year 2025 results showed a consolidated adjusted EBITDA growth of 12.1% and a 90-basis-point improvement in adjusted EBITDA margin [7] - For Q4 2025, same-facility net revenue per equivalent admission increased by 2.9% year-over-year, with equivalent admissions growth of 2.4% [5][7] Capital Allocation and Investments - HCA Healthcare deployed significant capital in 2025, with capital expenditures of $4.9 billion and share repurchases totaling $10 billion [4][12] - The company announced a new $10 billion share repurchase program and increased its quarterly dividend to $0.78 per share from $0.72 [16] 2026 Outlook - For 2026, HCA Healthcare guided revenue between $76.5 billion and $80 billion, with adjusted EBITDA projected at $15.55 billion to $16.45 billion [3][9] - The guidance includes anticipated headwinds from health insurance exchange reforms and supplemental payment program changes, with an expected EBITDA impact of $600 million to $900 million [3][13] Operational Strategies - Management emphasized disciplined capital allocation and improvements in capacity management and quality outcomes as key drivers of performance [2][3] - The company is focusing on resiliency initiatives to offset expected declines in health insurance exchange volumes, with a projected 15% to 20% decline in 2026 [11][12][15] Outpatient Services - HCA Healthcare continues to invest heavily in outpatient facilities, adding approximately 100 outpatient business units in 2025 [20] - Outpatient revenue growth outpaced inpatient growth, although same-facility outpatient surgery cases saw a slight decline [19][20]

Key Takeaways HCA reported Q4 EPS of $8.01, up 28.8% year over year and 8.8% above the consensus estimate.Results were driven by gains in admissions, ER visits and revenue per equivalent admission.HCA projects 2026 EPS of $29.10-$31.50 and EBITDA of $15.55B-$16.45B.HCA Healthcare, Inc. (HCA) reported fourth-quarter 2025 adjusted earnings per share (EPS) of $8.01, which outpaced the Zacks Consensus Estimate by 8.8%. The bottom line advanced 28.8% year over year.Revenues rose 6.7% year over year to $19.5 bill ...

Company Performance - Boeing Company reported fourth-quarter revenue of $23.948 billion, a 57% increase from $15.242 billion, driven by a sharp rise in commercial deliveries, with 160 airplanes delivered in the quarter [2][3] - The revenue exceeded analyst estimates of $22.470 billion, but the company reported an adjusted loss of $1.91 per share, missing Wall Street expectations for a loss of $0.39 per share [3] Stock Movements - Boeing's stock fell 3% following the earnings report [2] - Redwire Corp shares surged 135% to $0.63 after securing a contract worth up to $151 billion for the Missile Defense Agency [9] - HCA Healthcare Inc shares rose 9% to $514.82 after reporting better-than-expected fourth-quarter adjusted EPS and raising FY25 guidance [9] - Corning Inc shares increased by 15% to $109.16 after announcing a $6 billion agreement with Meta [9] - CommVault Systems, Inc. shares dropped 35% to $84.72 following third-quarter results [9] - Twin Hospitality Group Inc shares fell 43% to $0.30 after filing for Chapter 11 [9] - FAT Brands Inc shares decreased by 43% to $0.23 after commencing Chapter 11 [9] Sector Performance - Information technology shares gained 1.3% on Tuesday, while health care stocks fell by 1% [1]

Shares of HCA Healthcare, Inc. ( HCA ) have been a strong performer over the past year, gaining over 40%. The company has used buybacks to aggressively reduce share count while also steadily expanding operating margins, creating a favorable environment for shares. A solid Q4Over fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a ques ...

Core Insights - HCA Healthcare reported strong operational performance in 2025, achieving a record 47 million patient encounters and a 6.7% increase in revenue year-over-year [3][4] - The company is well-positioned for 2026 with a revenue guidance range of $76.5 billion to $80 billion and adjusted EBITDA expected between $15.55 billion and $16.45 billion [10][12] - HCA's strategic focus includes enhancing patient access through network expansion, improving operational efficiencies, and investing in technology and AI initiatives [1][20][80] Financial Performance - For 2025, net income attributable to HCA increased nearly 31%, with diluted earnings per share adjusted up by 29% [4][8] - The company achieved a consolidated adjusted EBITDA growth of 12.1% over the prior year, with a 90 basis point improvement in adjusted EBITDA margin [8][9] - Capital expenditures totaled $4.9 billion for the year, with a significant share repurchase program of $10 billion authorized by the board [9][13] Volume and Admissions - Same facility equivalent admissions increased by 2.4%, with inpatient surgeries flat and outpatient surgical volume slightly down [6][8] - Emergency room visits increased by 50 basis points, reflecting solid demand across HCA's markets [6] - The payer mix showed a 3.5% increase in Medicare and a 2.2% increase in Medicaid admissions [6][62] Strategic Initiatives - HCA is enhancing its resiliency program, focusing on revenue integrity, cost efficiencies, and capacity management to navigate policy changes effectively [2][20] - The company plans to invest significantly in technology and digital innovation, particularly in AI, to improve operational efficiency and patient care [80][86] - HCA's outpatient facility development continues to expand, with approximately 100 new business units added in the past year [56][58] Policy Environment - The company is monitoring several policy matters, including the expiration of enhanced premium tax credits and Medicaid supplemental payment programs, which may impact financial performance [2][11] - HCA anticipates a decline in supplemental payment programs' net benefit between $250 million and $450 million due to changes in state programs [11][78] - The company expects an adverse impact on adjusted EBITDA of $600 million to $900 million related to health insurance exchange reforms [11][21] Future Outlook - HCA's 2026 guidance reflects expectations for stable margins and continued growth in equivalent admissions between 2% to 3% [10][11] - The company is committed to ongoing investments in high-acuity programs and expanding its network through new access points [10][12] - HCA's leadership emphasizes a cultural commitment to cost-effectiveness and operational excellence as part of its long-term strategy [35][86]

Core Viewpoint - HCA Healthcare Inc. reported mixed financial results for the fourth quarter of 2025, with total revenues slightly missing consensus estimates but adjusted earnings exceeding expectations [1][2]. Financial Performance - Total revenues for Q4 2025 were $19.513 billion, a 6.7% increase year-over-year, but below the consensus estimate of $19.67 billion [1]. - Adjusted earnings were $8.01 per share, up from $6.22 a year ago, surpassing the consensus of $7.43 [1]. - Net income for the quarter reached $1.878 billion, or $8.14 per share, compared to $1.438 billion, or $5.63 per share, a year ago [2]. Operational Metrics - Same-facility admissions increased by 2.4%, and same-facility equivalent admissions rose by 2.5% in Q4 2025 [3]. - Same-facility emergency room visits increased by 0.5%, while same-facility inpatient surgeries remained flat, and same-facility outpatient surgeries decreased by 0.5% [3]. - Adjusted EBITDA totaled $4.114 billion, compared to $3.712 billion a year ago [3]. Cash Flow and Investments - Cash flows from operating activities totaled $2.359 billion, down from $2.559 billion in Q4 2024 [4]. - The CEO highlighted strong performance and ongoing investments in network expansion, workforce development, and clinical capabilities [4]. Stock Buyback and Future Outlook - HCA Healthcare authorized an additional share repurchase program for up to $10 billion, representing approximately 10% of its market cap of $103 billion [5]. - The company forecasts fiscal 2026 earnings of $29.10-$31.50 per share, slightly below the consensus of $29.54 [5]. - Projected sales for 2026 are between $76.5 billion and $80 billion, compared to the consensus of $79.08 billion [5]. - Expected adjusted EBITDA for 2026 is between $15.55 billion and $16.45 billion, with net income projected at $6.495 billion-$7.035 billion [6]. Market Reaction - HCA Healthcare shares rose by 11.29% to $525.69, reaching a new 52-week high [7].

HCA Healthcare (NYSE:HCA) Q4 2025 Earnings call January 27, 2026 10:00 AM ET Company ParticipantsAndrew Mok - Director of Equity ResearchFrank Morgan - Head of Investor RelationsJoshua Raskin - Co-Founder and PartnerKevin Fischbeck - Managing DirectorMike Marks - CFOSam Hazen - CEOConference Call ParticipantsA.J. Rice - Managing Director and Senior Health Care Equity Research AnalystAnn Hynes - Managing Director and Senior Healthcare Services Equity AnalystBen Hendrix - VP and Equity Research AnalystBrian T ...

HCA Healthcare (NYSE:HCA) Q4 2025 Earnings call January 27, 2026 10:00 AM ET Company ParticipantsFrank Morgan - Head of Investor RelationsMike Marks - CFOSam Hazen - CEOConference Call ParticipantsAnn Hynes - Managing Director and Senior Healthcare Services Equity AnalystOperatorLadies and gentlemen, welcome to HCA Healthcare Fourth Quarter 2025 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 Vice President ...