Core Viewpoint - HCA Healthcare, Inc. reported strong first-quarter 2025 results with adjusted earnings per share (EPS) of $6.45, exceeding estimates and showing a year-over-year increase of 20.3% [1]. Financial Performance - Revenues for the first quarter reached $18.3 billion, reflecting a 5.7% year-over-year growth and slightly surpassing consensus estimates by 0.1% [1]. - Adjusted EBITDA increased to $3.7 billion from $3.4 billion in the previous year [4]. Operational Metrics - Same-facility equivalent admissions rose by 2.6% year over year, while same-facility admissions increased by 2.8%, both falling short of growth estimates [3]. - Same-facility revenue per equivalent admission grew by 2.9% year over year, missing the growth estimate of 3% [3]. - Same-facility inpatient surgeries saw a minor increase of 0.2% year over year, below the expected 2.2% growth, while outpatient surgeries decreased by 2.1% [4]. - Emergency room visits increased by 4% year over year [4]. Expense Overview - Salaries and benefits, supplies, and other operating expenses rose by 4.4% year over year to $14.6 billion, which was lower than the estimated $14.8 billion [4]. Cash Flow and Capital Deployment - Cash generated from operations was $1.7 billion, down from $2.5 billion in the previous year [8]. - The company repurchased shares worth $2.5 billion in the first quarter, with an available buyback capacity of $8.3 billion [9]. Financial Position - As of March 31, 2025, HCA Healthcare had cash and cash equivalents of $1 billion, down from $1.9 billion at the end of 2024 [6]. - Total assets increased to $59.8 billion from $59.5 billion at the end of 2024, while long-term debt rose to $41.1 billion from $38.3 billion [6]. Guidance - HCA Healthcare anticipates annual revenues between $72.8 billion and $75.8 billion for 2025, indicating a 5.2% rise from 2024 [10]. - Adjusted EBITDA is expected to range from $14.3 billion to $15.1 billion, reflecting a 5.9% growth from the previous year [10]. - EPS is forecasted to be between $24.05 and $25.85, implying a 13.6% increase from 2024 [11].

Financial Data and Key Metrics Changes - In the first quarter of 2025, diluted earnings per share, as adjusted, increased more than 20% year-over-year to $6.45 [9] - Adjusted EBITDA grew 11.3% over the prior year quarter, with an adjusted EBITDA margin improvement of 110 basis points [20][22] - Cash flow from operations was $1.65 billion in the quarter, with a decrease attributed to working capital changes [24] Business Line Data and Key Metrics Changes - Inpatient admissions grew 2.6% year-over-year, equivalent admissions increased 2.8%, and emergency room visits rose by 4% [10] - Same facilities revenue grew almost 6%, driven by volume increases and approximately 3% higher revenue per equivalent admission [11] - Surgical volumes were mixed, with inpatient surgeries slightly up and outpatient cases down [10][33] Market Data and Key Metrics Changes - Same-facility managed care equivalent admissions increased by 5.4% compared to the prior year quarter, while same-facility equivalent exchange admissions surged by 22.4% [20] - Exchange volume represented about 8% of equivalent admissions and approximately 10% of revenues for the quarter [108] Company Strategy and Development Direction - The company is focused on maintaining operational discipline while continuing to invest in its strategic agenda, including increasing the number of facilities by 3.3% [12][13] - Capital allocation strategy includes $991 million in capital expenditures, $225 million in share repurchases, and $180 million in dividends [25] - The company is investing heavily in technology and digital transformation to improve operational efficiency and clinical care [132][133] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall demand for healthcare services and the company's ability to navigate through uncertain policy environments [14][18] - The company is developing plans to address potential adverse impacts from health policy changes and tariffs, drawing from experiences during the COVID-19 pandemic [17][75] - Management remains optimistic about maintaining market share gains and operational efficiencies despite competitive pressures [100][101] Other Important Information - The company reaffirmed its guidance ranges for the full-year 2025, indicating confidence in its operational performance [26] - The company reported an $18 million increase in net benefits related to Medicaid in the first quarter of 2025 compared to the prior year quarter [23] Q&A Session Summary Question: Any major changes in assumptions embedded in the reiteration of guidance? - Management stated that the first quarter performance was solid, and guidance for 2025 remains appropriate [31] Question: How do you get that much leverage this quarter? - Management explained that operating leverage is created by pushing more volume through the organization, which improves profitability and margins [42] Question: Can you clarify the revenue per adjusted admission increase? - Management noted that the increase was driven by payer mix trends and improved acuity, with managed care positioning improving year-over-year [55][59] Question: Any changes with MA plan behavior denials? - Management indicated that there were no significant changes in denials and underpayments that materially impacted financial results [68] Question: How is the surgical schedule and block time utilization looking? - Management believes that demand for healthcare will remain strong, with expectations for surgical volumes to recover [126] Question: Can you speak to your technology agenda? - Management highlighted significant investments in technology and digital transformation to enhance operational efficiency and clinical care [132][133]

HCA Healthcare (HCA) reported $18.32 billion in revenue for the quarter ended March 2025, representing a year-over-year increase of 5.7%. EPS of $6.45 for the same period compares to $5.36 a year ago.The reported revenue represents a surprise of +0.08% over the Zacks Consensus Estimate of $18.31 billion. With the consensus EPS estimate being $5.77, the EPS surprise was +11.79%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...

Group 1 - HCA Healthcare reported quarterly earnings of $6.45 per share, exceeding the Zacks Consensus Estimate of $5.77 per share, and up from $5.36 per share a year ago, representing an earnings surprise of 11.79% [1] - The company posted revenues of $18.32 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 0.08%, and an increase from $17.34 billion year-over-year [2] - HCA shares have increased approximately 13.8% since the beginning of the year, contrasting with the S&P 500's decline of -6.8% [3] Group 2 - The current consensus EPS estimate for the upcoming quarter is $6.18 on revenues of $18.45 billion, and for the current fiscal year, it is $24.98 on revenues of $74.69 billion [7] - The Medical - Hospital industry, to which HCA belongs, is currently ranked in the top 10% of over 250 Zacks industries, indicating strong performance potential [8] Group 3 - HCA has surpassed consensus EPS estimates in all four of the last quarters, indicating consistent performance [2] - The estimate revisions trend for HCA is currently mixed, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6]

HCA Healthcare delivered a strong first quarter, beating expectations in both earnings and revenue.HCA Healthcare (HCA 1.64%), a prominent player in the healthcare sector, announced robust first-quarter results for 2025 on Friday, April 25, that surpassed market expectations. The company recorded an adjusted EPS of $6.45 for Q1 2025, exceeding the anticipated $5.75. Its reported revenue was $18.32 billion, slightly above the expected $18.26 billion.MetricQ1 2025Analysts' EstimateQ1 2024Change (YOY)Adjusted ...

Exhibit 99.1 For the first quarter of 2025, Adjusted EBITDA totaled $3.733 billion, compared to $3.353 billion in the first quarter of 2024. Adjusted EBITDA is a non-GAAP financial measure. A table providing supplemental information on Adjusted EBITDA and reconciling net income attributable to HCA Healthcare, Inc. to Adjusted EBITDA is included in this release. Same facility admissions increased 2.6 percent and same facility equivalent admissions increased 2.8 percent in the first quarter of 2025, compared ...

Group 1: Earnings Estimates - HCA Healthcare is expected to report first-quarter 2025 earnings of $5.77 per share on revenues of $18.31 billion, indicating a year-over-year earnings growth of 7.7% and revenue growth of 5.6% [1][2] - For the full year 2025, the revenue estimate is $74.69 billion, reflecting a 5.8% increase year-over-year, while the EPS estimate is $24.98, implying a 13.8% increase year-over-year [2] Group 2: Recent Performance - HCA Healthcare has consistently beaten earnings estimates in the last four quarters, with an average surprise of 5.9% [2] - The company has an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold), indicating uncertainty regarding an earnings beat for the upcoming quarter [3] Group 3: Operational Metrics - The consensus estimate for equivalent admissions shows a 3.4% year-over-year growth, while the model predicts a 3.5% increase; revenue per equivalent admission is expected to rise by 2% [5] - Equivalent patient days are estimated to grow by 1.8% year-over-year, but rising expenses and lower occupancy rates pose challenges [6] Group 4: Expense and Occupancy Trends - Total operating expenses are projected to increase by 5.8% year-over-year, driven by higher salaries, benefits, and supply costs, with supply costs expected to rise nearly 8% [7] - The occupancy rate is estimated at 72.68%, down from 75.20% a year ago, and the average length of stay is expected to decline by 2.4% [7]

Core Insights - HCA Healthcare is expected to report quarterly earnings of $5.77 per share, reflecting a year-over-year increase of 7.7% and revenues of $18.31 billion, up 5.6% from the previous year [1] Earnings Estimates - There have been no revisions in the consensus EPS estimate over the last 30 days, indicating stability in analysts' forecasts [1][2] Key Metrics Projections - Revenue per Equivalent Admission is projected to reach $18,026.95, compared to $17,666 in the same quarter last year [4] - Equivalent Admissions are estimated at 1.02 billion, up from 981.52 million year-over-year [4] - Admissions are expected to total 579.28 million, an increase from 560.87 million [5] - Equivalent Patient Days are projected at 4.96 million, compared to 4.87 million last year [5] - Average Length of Stay is expected to remain at 5 days, consistent with the previous year [5] - The Number of hospitals is projected to increase to 191 from 188 [6] - Inpatient Revenue per Admission is estimated at $19,580.02, up from $18,923 in the same quarter last year [6] - Licensed Beds at End of Period are expected to reach 50,132, compared to 49,724 last year [7] - Patient Days are projected at 2,817.09, up from 2,781.6 days year-over-year [7] - The Number of freestanding outpatient surgery centers is expected to be 124, compared to 121 last year [8] Stock Performance - Over the past month, HCA shares have recorded a return of -4.9%, while the Zacks S&P 500 composite has seen a decline of -8.9% [8]

Core Insights - The article discusses an investment service and community focused on the oil and natural gas sector, emphasizing cash flow and the potential for value and growth in this industry [1]. Group 1: Investment Service Features - The service offers subscribers access to a model account with over 50 stocks, detailed cash flow analyses of exploration and production (E&P) firms, and live chat discussions about the sector [2]. - A promotional offer is available for a two-week free trial, encouraging new users to explore opportunities in the oil and gas market [3].

Three major U.S. indexes the Nasdaq Composite, the S&P 500 and the Dow Jones Industrial Average closed deeply in red by 9.89%, 9.58% and 8.78% respectively, last week. The stocks have taken a beating after the implementation of President Donald Trump’s reciprocal tariff policies with major trading partners on April 2, 2025. Uncertainty over the impact of such policies on the U.S. economy has stoked fear of a near-term recession among market participants.Analysts are expecting a slowdown in economic growth a ...