Core Insights - HCA Healthcare Inc. reported better-than-expected earnings for Q4, with revenues of $18.29 billion, a 5.7% year-over-year increase, and adjusted EPS of $6.22, surpassing consensus estimates [1][2] - The company forecasts 2025 EPS between $24.05 and $25.85, with a sales outlook of $72.8 billion to $75.8 billion, indicating continued growth [2][3] Financial Performance - Q4 revenues reached $18.29 billion, exceeding the consensus of $18.23 billion [1] - Adjusted EPS for Q4 was $6.22, up from $5.90 a year ago, surpassing the consensus of $6.13 [1] - For 2025, HCA expects a net profit of $5.85 billion to $6.29 billion and adjusted EBITDA of $14.30 billion to $15.10 billion [3] Future Outlook - Capital expenditures for 2025 are estimated at approximately $5.0 billion to $5.2 billion, excluding acquisitions [3] - Analysts have adjusted their price targets post-earnings, with Barclays lowering its target from $392 to $366 while maintaining an Overweight rating, and Cantor Fitzgerald maintaining a $405 target [3]

Core Insights - Michael Dion is an expert in FP&A, Corporate Finance, and Small Business with 12 years of experience in Fortune 100 companies and various industries [1] - He founded F9 Finance to assist finance professionals and small business owners in understanding finance and accounting concepts [1] - Dion's investment strategy focuses on identifying value opportunities where market reactions to news are disproportionate, emphasizing strong fundamentals and dividends [1] Industry Insights - The finance and accounting sectors are increasingly recognizing the importance of cash flow for both companies and investors [1] - There is a growing trend among investors to seek value in companies that are mispriced due to market overreactions [1]

HCA Healthcare's Financial Performance - Adjusted EPS for Q4 2024 was $6.22, surpassing the Zacks Consensus Estimate by 4.2% and increasing 5.4% YoY [1] - Revenues rose 5.7% YoY to $18.3 billion, beating the consensus mark by 1.1% [2] - Full-year 2024 revenues increased 8.7% YoY to $70.6 billion, with adjusted EPS rising 15.5% YoY to $21.96 [11] - Adjusted EBITDA for 2024 improved 9.1% YoY to $13.9 billion [11] Operational Highlights - Same-facility equivalent admissions grew 3.1% YoY, while same-facility admissions increased 3% YoY in Q4 2024 [3] - Same-facility revenue per equivalent admission rose 2.9% YoY, exceeding the growth estimate of 2.7% [3] - Same-facility inpatient surgeries increased 2.8% YoY, outpacing the growth estimate of 2.1% [4] - Same-facility emergency room visits rose 2.4% YoY in Q4 2024 [4] Expenses and EBITDA - Salaries and benefits, supplies, and other operating expenses increased 6.3% YoY to $14.6 billion, higher than the estimate of $14.4 billion [4] - Adjusted EBITDA for Q4 2024 improved 2.6% YoY to $3.7 billion [4] Financial Position and Capital Deployment - Cash and cash equivalents at the end of Q4 2024 were $1.9 billion, more than double the 2023-end level [6] - Total assets increased 5.9% YoY to $59.5 billion [6] - Long-term debt rose 3.1% YoY to $38.3 billion [6] - Capital expenditures were $1.3 billion, excluding acquisitions [7] - Cash from operations in 2024 advanced 11.5% YoY to $10.5 billion [8] - HCA bought back shares worth $1.7 billion in Q4 2024 and approved a new $10 billion share repurchase program [9] - Quarterly cash dividend increased 9.1% to 72 cents per share, payable on March 31, 2025 [10] 2025 Guidance - Annual revenues for 2025 are expected to be between $72.8 billion and $75.8 billion, indicating a 5.2% rise at the midpoint [12] - Adjusted EBITDA for 2025 is projected to be in the range of $14.3-$15.1 billion, with a midpoint growth of 5.9% [12] - Net income attributable to HCA Healthcare is expected to be between $5.85 billion and $6.29 billion [12] - EPS is forecasted to be in the $24.05-$25.85 range, implying a 13.6% rise at the midpoint [13] - Capital expenditures, excluding acquisitions, are expected to be within $5-$5.2 billion [13] Industry Updates - UnitedHealth Group reported Q4 2024 adjusted EPS of $6.81, beating the consensus estimate by 1.5% and increasing 10.6% YoY [16] - UnitedHealth's revenues rose 6.8% YoY to $100.8 billion, though it missed the consensus mark by 1.4% [16] - Elevance Health reported Q4 2024 adjusted EPS of $3.84, surpassing the consensus estimate by 1.1%, but declining 31.7% YoY [18] - Elevance Health's operating revenues increased 6% YoY to $45 billion, slightly beating the consensus mark [18] Upcoming Earnings - Merit Medical Systems is scheduled to report Q4 2024 earnings on Feb 25, with a Zacks Consensus Estimate of 83 cents per share, indicating a 2.5% rise YoY [21][22]

Financial Data and Key Metrics Changes - The company reported significant changes in financial metrics, with a focus on revenue growth and profitability margins [4]. Business Line Data and Key Metrics Changes - Specific business lines showed varied performance, with some segments outperforming expectations while others faced challenges [4]. Market Data and Key Metrics Changes - The company highlighted changes in market dynamics, including shifts in demand and competitive pressures that impacted overall performance [4]. Company Strategy and Development Direction - The management discussed strategic initiatives aimed at enhancing operational efficiency and expanding market share, particularly in high-growth areas [4]. Management Comments on Operating Environment and Future Outlook - Management provided insights into the current operating environment, noting challenges but expressing optimism about future growth prospects [4]. Other Important Information - Additional information included updates on regulatory changes and their potential impact on operations and financial performance [4]. Q&A Session Summary Question: What are the expectations for revenue growth in the upcoming quarters? - Management indicated a cautious but positive outlook, expecting steady revenue growth driven by strategic initiatives and market demand [4]. Question: How is the company addressing competitive pressures? - The company is focusing on innovation and customer service enhancements to maintain a competitive edge in the market [4].

Core Viewpoint - HCA Healthcare reported strong revenue growth in Q4 2024 but missed earnings per share estimates due to the impact of hurricanes on operations [2][6]. Financial Performance - Revenue for Q4 2024 was $18.285 billion, exceeding analyst expectations of $18.234 billion, representing a year-over-year increase of 5.7% from $17.303 billion in Q4 2023 [3][6]. - Diluted earnings per share (EPS) were $5.63, falling short of the expected $6.13, and down 5.1% from $5.93 in Q4 2023 [3][6]. - Adjusted EBITDA for the quarter was $3.712 billion, reflecting a 2.6% increase from $3.618 billion in the previous year [3]. - Net income decreased by 10.5% to $1.438 billion compared to $1.607 billion in Q4 2023 [3]. Operational Highlights - Same-facility admissions increased by 3.0%, and inpatient surgeries grew by 2.8%, indicating strong demand for healthcare services despite external challenges [7]. - Emergency room visits rose by 2.4%, while outpatient surgeries saw a decline of 1.3% [7]. - The company faced revenue losses of approximately $200 million due to Hurricanes Helene and Milton, which significantly impacted operations in North Carolina and Florida [6]. Cash Flow and Share Repurchase - Operating cash flow was reported at $2.559 billion, demonstrating the company's strong cash generation capabilities [8]. - The company continued its share repurchase strategy, buying back 4.739 million shares for $1.7 billion [8]. Future Outlook - For 2025, HCA Healthcare projects revenue between $72.8 billion and $75.8 billion, with EPS expected to range from $24.05 to $25.85, indicating anticipated stability [9]. - Key strategies include investments in AI and digital technologies to enhance operational efficiency and patient care [9]. - The company aims to expand infrastructure with new inpatient and outpatient facilities while refining operational practices to adapt to changing healthcare regulations [10].

Core Insights - HCA Healthcare reported $18.29 billion in revenue for Q4 2024, a year-over-year increase of 5.7% [1] - The EPS for the same period was $6.22, up from $5.90 a year ago, exceeding the consensus estimate of $5.97 by 4.19% [1] Financial Performance - Revenue surpassed the Zacks Consensus Estimate of $18.09 billion, resulting in a surprise of +1.07% [1] - HCA's shares returned +7.5% over the past month, outperforming the Zacks S&P 500 composite's +2.5% change [3] Key Metrics - Revenue per Equivalent Admission was $18,146, exceeding the five-analyst average estimate of $18,036.69 [4] - Equivalent Admissions reached 1.01 billion, surpassing the five-analyst average estimate of 997.59 million [4] - Admissions totaled 559.17 million, slightly below the average estimate of 561.41 million [4] - Equivalent Patient Days were 4.85 million, close to the average estimate of 4.89 million [4] - Average Length of Stay remained at 5 days, matching the two-analyst average estimate [4] - The number of hospitals increased to 190, above the two-analyst average estimate of 187 [4] - Inpatient Revenue per Admission was $19,737, exceeding the average estimate of $19,608.16 [4] - Licensed Beds at the end of the period were 49,985, slightly above the two-analyst average estimate of 49,819 [4] - Patient Days were recorded at 2,691.71, below the average estimate of 2,714.32 [4] - The number of freestanding outpatient surgery centers was 124, slightly below the average estimate of 125 [4]

Group 1: Earnings Performance - HCA Healthcare reported quarterly earnings of $6.22 per share, exceeding the Zacks Consensus Estimate of $5.97 per share, and up from $5.90 per share a year ago, representing an earnings surprise of 4.19% [1] - The company posted revenues of $18.29 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 1.07%, compared to $17.3 billion in the same quarter last year [2] - Over the last four quarters, HCA has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - HCA shares have increased approximately 8.4% since the beginning of the year, outperforming the S&P 500's gain of 4% [3] - The sustainability of the stock's price movement will depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $5.82 on revenues of $18.22 billion, and for the current fiscal year, it is $24.77 on revenues of $74.54 billion [7] Group 3: Industry Context - The Medical - Hospital industry, to which HCA belongs, is currently ranked in the bottom 7% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact HCA's stock performance [5][6]

Exhibit 99.1 FOR IMMEDIATE RELEASE INVESTOR CONTACT: MEDIA CONTACT: Frank Morgan Harlow Sumerford 615-344-2688 615-344-1851 HCA HEALTHCARE REPORTS FOURTH QUARTER 2024 RESULTS AND PROVIDES 2025 GUIDANCE Nashville, Tenn., January 24, 2025 – HCA Healthcare, Inc. (NYSE: HCA) today announced financial and operating results for the fourth quarter ended December 31, 2024. Key fourth quarter metrics (all percentage changes compare 4Q 2024 to 4Q 2023 unless otherwise noted): "We finished 2024 with strong business fu ...

Earnings and Financial Performance - HCA Healthcare is expected to report quarterly earnings of $6 14 per share for Q4 2025, up from $5 90 per share in the same period last year [1] - The company projects revenue of $18 23 billion for the recent quarter, compared to $17 3 billion a year earlier [1] Stock Performance and Analyst Ratings - HCA Healthcare shares gained 1 8% to close at $325 36 on Thursday [3] - Truist Securities analyst David Macdonald maintained a Buy rating but cut the price target from $430 to $390 [5] - Raymond James analyst John Ransom downgraded the stock from Outperform to Market Perform [5] - Keybanc analyst Matthew Gillmor maintained an Overweight rating but cut the price target from $475 to $420 [5] - Oppenheimer analyst Michael Wiederhorn maintained an Outperform rating and raised the price target from $390 to $400 [5] - Deutsche Bank analyst Pito Chickering maintained a Buy rating and raised the price target from $359 to $375 [5] Leadership Changes - HCA Healthcare named Wendy Warren as Senior Vice President and Chief Ethics and Compliance Officer on Dec 20, 2024 [2]

HCA Healthcare, Inc. (HCA) is scheduled to report fourth-quarter 2024 results on Jan. 24, before the opening bell. The Zacks Consensus Estimate for fourth-quarter earnings per share of $5.99 indicates a 1.5% increase from the prior-year figure of $5.90.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The earnings estimate has witnessed downward revisions over the past 60 days. The consensus estimate for fourth-quarter revenues of $18.1 billion indicates 4.6% growth from the year-ago ...