Raises 2024 Guidance
HCA Healthcare, Inc. (NYSE: HCA) today announced financial and
operating results for the second quarter ended June 30, 2024.
Key second quarter metrics (all percentage changes
compare 2Q 2024 to 2Q 2023 unless otherwise noted):
- Revenues totaled $17.492 billion
- Net income attributable to HCA Healthcare, Inc. totaled $1.461
billion, or $5.53 per diluted share
- Adjusted EBITDA totaled $3.550 billion
- Cash flows from operating activities totaled $1.971
billion
- Same facility admissions increased 5.8 percent while same
facility equivalent admissions increased 5.2 percent
“The company’s results for the second quarter were positive and
reflected strong demand for our services. Our teams continued to
execute our strategic plan effectively and produce positive
outcomes for our patients. I want to thank our HCA colleagues for
their outstanding work and their continued pursuits to innovate and
deliver on our mission,” said Sam Hazen, Chief Executive Officer of
HCA Healthcare.
Revenues in the second quarter of 2024 totaled $17.492 billion,
compared to $15.861 billion in the second quarter of 2023. Net
income attributable to HCA Healthcare, Inc. totaled $1.461 billion,
or $5.53 per diluted share, compared to $1.193 billion, or $4.29
per diluted share, in the second quarter of 2023. Results for the
second quarter of 2024 include gains on sales of facilities of $12
million, or $0.03 per diluted share.
For the second quarter of 2024, Adjusted EBITDA totaled $3.550
billion, compared to $3.056 billion in the second quarter of 2023.
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 5.8 percent while same
facility equivalent admissions increased 5.2 percent in the second
quarter of 2024, compared to the prior year period. Same facility
emergency room visits increased 5.5 percent in the second quarter
of 2024, compared to the prior year period. Same facility inpatient
surgeries increased 2.6 percent, and same facility outpatient
surgeries declined 2.1 percent in the second quarter of 2024,
compared to the same period of 2023. Same facility revenue per
equivalent admission increased 4.4 percent in the second quarter of
2024, compared to the second quarter of 2023.
Six Months Ended June 30, 2024
Revenues for the six months ended June 30, 2024 totaled $34.831
billion, compared to $31.452 billion in the same period of 2023.
Net income attributable to HCA Healthcare, Inc. was $3.052 billion,
or $11.47 per diluted share, compared to $2.556 billion, or $9.14
per diluted share, for the first six months of 2023. Results for
the six months ended June 30, 2024 include gains on sales of
facilities of $213 million, or $0.61 per diluted share. Results for
the six months ended June 30, 2023 included losses on sales of
facilities of $14 million, or $0.08 per diluted share.
Balance Sheet and Cash Flows from Operations
As of June 30, 2024, HCA Healthcare, Inc.’s balance sheet
reflected cash and cash equivalents of $831 million, total debt of
$40.880 billion, and total assets of $57.379 billion. During the
second quarter of 2024, capital expenditures totaled $1.281
billion, excluding acquisitions. Cash flows provided by operating
activities in the second quarter of 2024 totaled $1.971 billion,
compared to $2.475 billion in the second quarter of 2023.
During the second quarter of 2024, the Company repurchased 4.217
million shares of its common stock at a cost of $1.367 billion. The
Company had $4.228 billion remaining under its repurchase
authorization as of June 30, 2024. As of June 30, 2024, the Company
had $7.137 billion of availability under its credit facilities.
Dividend
HCA today announced that its Board of Directors declared a
quarterly cash dividend of $0.66 per share on the Company’s common
stock. The dividend will be paid on September 30, 2024 to
stockholders of record at the close of business on September 16,
2024.
The declaration and payment of any future dividend will be
subject to the discretion of the Board of Directors and will depend
on a variety of factors, including the Company’s financial
condition, results of operations, and contractual restrictions.
Future dividends are expected to be funded by cash balances and
future cash flows from operations.
2024 Revised Guidance
Today, the Company revised its 2024 estimated guidance ranges
issued on January 30, 2024.
Previous 2024 Guidance Range as of January
30, 2024
Revised 2024 Guidance Range as of July 23,
2024
Revenues
$67.750 to $70.250 billion
$69.750 to $71.750 billion
Net Income Attributable to HCA Healthcare,
Inc.
$5.200 to $5.600 billion
$5.675 to $5.975 billion
Adjusted EBITDA
$12.850 to $13.550 billion
$13.750 to $14.250 billion
EPS (diluted)
$19.70 to $21.20 per diluted share
$21.60 to $22.80 per diluted share
Capital expenditures for 2024, excluding acquisitions, are
estimated to be in the range of $5.1 to $5.3 billion.
The Company’s revised 2024 guidance contains a number of
assumptions, including, among others, the Company’s current
expectations regarding patient volumes and payor mix as well as
general economic conditions, including inflation, and excludes the
impact of items such as, but not limited to, gains or losses on
sales of facilities, losses on retirement of debt, legal claims
costs and impairment of long-lived assets.
Adjusted EBITDA is a non-GAAP financial measure. A table
reconciling forecasted net income attributable to HCA Healthcare,
Inc. to forecasted Adjusted EBITDA is included in this release.
The Company’s guidance is based on current plans and
expectations and is subject to a number of known and unknown
uncertainties and risks, including those set forth below in the
Company’s “Forward-Looking Statements.”
Earnings Conference Call
HCA Healthcare will host a conference call for investors at 9:00
a.m. Central Time today. All interested investors are invited to
access a live audio broadcast of the call via webcast. The
broadcast also will be available on a replay basis beginning this
afternoon. The webcast can be accessed through the Company’s
Investor Relations web page at
https://investor.hcahealthcare.com/events-and-presentations/default.aspx.
About the Company
As of June 30, 2024, HCA operated 188 hospitals and
approximately 2,400 ambulatory sites of care, including surgery
centers, freestanding emergency rooms, urgent care centers and
physician clinics, in 20 states and the United Kingdom.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws, which involve risks and
uncertainties. Forward-looking statements include the Company’s
financial guidance for the year ending December 31, 2024, as well
as other statements that do not relate solely to historical or
current facts. Forward-looking statements can be identified by the
use of words like “may,” “believe,” “will,” “expect,” “project,”
“estimate,” “anticipate,” “plan,” “initiative” or “continue.” These
forward-looking statements are based on our current plans and
expectations and are subject to a number of known and unknown
uncertainties and risks, many of which are beyond our control,
which could significantly affect current plans and expectations and
our future financial position and results of operations. These
factors include, but are not limited to, (1) changes in or related
to general economic conditions nationally and regionally in our
markets, including inflation and economic and business conditions
(and the impact thereof on the economy, financial markets and
banking industry); changes in revenues due to declining patient
volumes; changes in payer mix (including increases in uninsured and
underinsured patients); potential increased expenses related to
labor, supply chain or other expenditures; workforce disruptions;
supply shortages and disruptions (including as a result of
geopolitical disruptions); and the impact of potential federal
government shutdowns, (2) the impact of our significant
indebtedness and the ability to refinance such indebtedness on
acceptable terms, (3) the impact of current and future federal and
state health reform initiatives and possible changes to other
federal, state or local laws and regulations affecting the health
care industry, including, but not limited to, proposals to expand
coverage of federally-funded insurance programs as an alternative
to private insurance or establish a single-payer system (such
reforms often referred to as “Medicare for All”), (4) the effects
related to the implementation of sequestration spending reductions
required under the Budget Control Act of 2011, related legislation
extending these reductions and those required under the
Pay-As-You-Go Act of 2010 as a result of the federal budget deficit
impact of the American Rescue Plan Act of 2021, and the potential
for future deficit reduction legislation that may alter these
spending reductions, which include cuts to Medicare payments, or
create additional spending reductions, (5) increases in the amount
and risk of collectability of uninsured accounts and deductibles
and copayment amounts for insured accounts, (6) the ability to
achieve operating and financial targets, attain expected levels of
patient volumes and revenues, and control the costs of providing
services, (7) possible changes in Medicare, Medicaid and other
state programs, including Medicaid supplemental payment programs,
Medicaid waiver programs or state directed payments, that may
impact reimbursements to health care providers and insurers and the
size of the uninsured or underinsured population, (8)
personnel-related capacity constraints, increases in wages and the
ability to attract, utilize and retain qualified management and
other personnel, including affiliated physicians, nurses and
medical and technical support personnel, (9) the highly competitive
nature of the health care business, (10) changes in service mix,
revenue mix and surgical volumes, including potential declines in
the population covered under third-party payer agreements, the
ability to enter into and renew third-party payer provider
agreements on acceptable terms and the impact of consumer-driven
health plans and physician utilization trends and practices, (11)
the efforts of health insurers, health care providers, large
employer groups and others to contain health care costs, (12) the
outcome of our continuing efforts to monitor, maintain and comply
with appropriate laws, regulations, policies and procedures, (13)
the availability and terms of capital to fund the expansion of our
business and improvements to our existing facilities, (14) changes
in accounting practices, (15) the emergence of and effects related
to pandemics, epidemics and outbreaks of infectious diseases or
other public health crises, including but not limited to
developments related to COVID-19, (16) future divestitures which
may result in charges and possible impairments of long-lived
assets, (17) changes in business strategy or development plans,
(18) delays in receiving payments for services provided, (19) the
outcome of pending and any future tax audits, disputes and
litigation associated with our tax positions, (20) the impact of
known and unknown government investigations, litigation and other
claims that may be made against us, (21) the impact of actual and
potential cybersecurity incidents or security breaches involving us
or our vendors and other third parties, including the data security
incident disclosed in July 2023, (22) our ongoing ability to
demonstrate meaningful use of certified electronic health record
technology and the impact of interoperability requirements, (23)
the impact of natural disasters, such as hurricanes and floods,
physical risks from climate change or similar events beyond our
control, (24) changes in U.S. federal, state, or foreign tax laws
including interpretive guidance that may be issued by taxing
authorities or other standard setting bodies, (25) the results of
our efforts to use technology and resilience initiatives, including
artificial intelligence and machine learning, to drive
efficiencies, better outcomes and an enhanced patient experience,
(26) the impact of recent decisions of the U.S. Supreme Court
regarding the actions of federal agencies, and (27) other risk
factors described in our annual report on Form 10-K for the year
ended December 31, 2023 and our other filings with the Securities
and Exchange Commission. Many of the factors that will determine
our future results are beyond our ability to control or predict. In
light of the significant uncertainties inherent in the
forward-looking statements contained herein, readers should not
place undue reliance on forward-looking statements, which reflect
management’s views only as of the date hereof. We undertake no
obligation to revise or update any forward-looking statements, or
to make any other forward-looking statements, whether as a result
of new information, future events or otherwise. All references to
“Company,” “HCA” and “HCA Healthcare” as used throughout this
release refer to HCA Healthcare, Inc. and its affiliates.
HCA Healthcare, Inc. Condensed Consolidated Comprehensive
Income Statements Second Quarter Unaudited
(Dollars in millions, except per share amounts)
2024
2023
Amount
Ratio
Amount
Ratio
Revenues
$
17,492
100.0
%
$
15,861
100.0
%
Salaries and benefits
7,685
43.9
7,277
45.9
Supplies
2,634
15.1
2,478
15.6
Other operating expenses
3,623
20.7
3,043
19.2
Equity in losses of affiliates
-
-
7
-
Depreciation and amortization
819
4.7
763
4.8
Interest expense
506
2.9
485
3.1
Gains on sales of facilities
(12
)
(0.1
)
(1
)
-
15,255
87.2
14,052
88.6
Income before income taxes
2,237
12.8
1,809
11.4
Provision for income taxes
550
3.2
397
2.5
Net income
1,687
9.6
1,412
8.9
Net income attributable to noncontrolling interests
226
1.2
219
1.4
Net income attributable to HCA Healthcare, Inc.
$
1,461
8.4
$
1,193
7.5
Diluted earnings per share
$
5.53
$
4.29
Shares used in computing diluted earnings per share
(millions)
264.071
278.198
Comprehensive income attributable to HCA Healthcare, Inc.
$
1,461
$
1,207
HCA Healthcare, Inc. Condensed Consolidated Comprehensive
Income Statements For the Six Months Ended June 30, 2024 and
2023 Unaudited (Dollars in millions, except per share
amounts)
2024
2023
Amount
Ratio
Amount
Ratio
Revenues
$
34,831
100.0
%
$
31,452
100.0
%
Salaries and benefits
15,392
44.2
14,361
45.7
Supplies
5,305
15.2
4,901
15.6
Other operating expenses
7,229
20.8
5,937
18.8
Equity in losses of affiliates
2
-
25
0.1
Depreciation and amortization
1,614
4.6
1,519
4.8
Interest expense
1,018
2.9
964
3.1
Losses (gains) on sales of facilities
(213
)
(0.6
)
14
-
30,347
87.1
27,721
88.1
Income before income taxes
4,484
12.9
3,731
11.9
Provision for income taxes
995
2.9
776
2.5
Net income
3,489
10.0
2,955
9.4
Net income attributable to noncontrolling interests
437
1.2
399
1.3
Net income attributable to HCA Healthcare, Inc.
$
3,052
8.8
$
2,556
8.1
Diluted earnings per share
$
11.47
$
9.14
Shares used in computing diluted earnings per share
(millions)
266.044
279.573
Comprehensive income attributable to HCA Healthcare, Inc.
$
3,044
$
2,590
HCA Healthcare, Inc. Condensed Consolidated
Balance Sheets Unaudited (Dollars in millions)
June 30,
March 31,
December 31,
2024
2024
2023
Current assets: Cash and cash equivalents
$
831
$
1,284
$
935
Accounts receivable
10,239
10,044
9,958
Inventories
1,800
1,903
2,021
Other
2,303
2,051
2,013
15,173
15,282
14,927
Property and equipment, at cost
60,625
59,440
58,548
Accumulated depreciation
(31,986
)
(31,344
)
(30,833
)
28,639
28,096
27,715
Investments of insurance subsidiaries
483
471
477
Investments in and advances to affiliates
702
736
756
Goodwill and other intangible assets
9,963
9,967
9,945
Right-of-use operating lease assets
2,179
2,211
2,207
Other
240
199
184
$
57,379
$
56,962
$
56,211
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities: Accounts payable
$
4,029
$
4,735
$
4,233
Accrued salaries
1,993
1,759
2,127
Other accrued expenses
3,705
3,619
3,871
Long-term debt due within one year
4,574
3,028
2,424
14,301
13,141
12,655
Long-term debt, less debt issuance costs and discounts of
$371, $381 and $333
36,306
37,163
37,169
Professional liability risks
1,573
1,571
1,557
Right-of-use operating lease obligations
1,894
1,912
1,903
Income taxes and other liabilities
1,966
1,905
1,867
Stockholders' equity: Stockholders' deficit attributable to
HCA Healthcare, Inc.
(1,600
)
(1,615
)
(1,774
)
Noncontrolling interests
2,939
2,885
2,834
1,339
1,270
1,060
$
57,379
$
56,962
$
56,211
HCA Healthcare, Inc. Condensed Consolidated Statements of
Cash Flows For the Six Months Ended June 30, 2024 and
2023 Unaudited (Dollars in millions)
2024
2023
Cash flows from operating activities: Net income
$
3,489
$
2,955
Adjustments to reconcile net income to net cash provided by
operating activities: Increase (decrease) in cash from operating
assets and liabilities: Accounts receivable
(285
)
306
Inventories and other assets
(68
)
(301
)
Accounts payable and accrued expenses
(459
)
(505
)
Depreciation and amortization
1,614
1,519
Income taxes
(4
)
3
Losses (gains) on sales of facilities
(213
)
14
Amortization of debt issuance costs and discounts
17
17
Share-based compensation
199
133
Other
150
137
Net cash provided by operating activities
4,440
4,278
Cash flows from investing activities: Purchase of
property and equipment
(2,399
)
(2,438
)
Acquisition of hospitals and health care entities
(131
)
(124
)
Sales of hospitals and health care entities
311
172
Change in investments
(14
)
(16
)
Other
(2
)
(2
)
Net cash used in investing activities
(2,235
)
(2,408
)
Cash flows from financing activities: Issuances of
long-term debt
4,483
3,218
Net change in revolving credit facilities
(1,030
)
(1,840
)
Repayment of long-term debt
(2,269
)
(608
)
Distributions to noncontrolling interests
(338
)
(342
)
Payment of debt issuance costs
(40
)
(30
)
Payment of dividends
(356
)
(339
)
Repurchase of common stock
(2,547
)
(1,761
)
Other
(212
)
(221
)
Net cash used in financing activities
(2,309
)
(1,923
)
Effect of exchange rate changes on cash and cash equivalents
-
7
Change in cash and cash equivalents
(104
)
(46
)
Cash and cash equivalents at beginning of period
935
908
Cash and cash equivalents at end of period
$
831
$
862
Interest payments
$
943
$
925
Income tax payments, net
$
999
$
773
HCA Healthcare, Inc.
Operating Statistics
For the Six Months Second Quarter
Ended June 30,
2024
2023
2024
2023
Operations: Number of Hospitals
188
182
188
182
Number of Freestanding Outpatient Surgery Centers* .
123
126
123
126
Licensed Beds at End of Period
49,844
49,063
49,844
49,063
Weighted Average Beds in Service
42,624
41,802
42,594
41,743
Reported: Admissions
554,456
522,996
1,115,325
1,048,231
% Change
6.0
%
6.4
%
Equivalent Admissions
994,835
938,834
1,976,356
1,855,369
% Change
6.0
%
6.5
%
Revenue per Equivalent Admission
$
17,583
$
16,894
$
17,624
$
16,952
% Change
4.1
%
4.0
%
Inpatient Revenue per Admission
$
18,814
$
17,689
$
18,869
$
17,759
% Change
6.4
%
6.3
%
Patient Days
2,662,550
2,558,563
5,444,146
5,196,466
% Change
4.1
%
4.8
%
Equivalent Patient Days
4,779,234
4,594,604
9,647,027
9,197,745
% Change
4.0
%
4.9
%
Inpatient Surgery Cases
135,860
132,447
269,258
262,907
% Change
2.6
%
2.4
%
Outpatient Surgery Cases
258,967
263,601
511,802
519,572
% Change
-1.8
%
-1.5
%
Emergency Room Visits
2,414,960
2,294,205
4,843,874
4,546,874
% Change
5.3
%
6.5
%
Outpatient Revenues as a Percentage of Patient Revenues
38.2
%
39.8
%
37.6
%
38.7
%
Average Length of Stay (days)
4.802
4.892
4.881
4.957
Occupancy**
71.9
%
71.1
%
73.6
%
72.6
%
Same Facility: Admissions
550,610
520,520
1,106,303
1,043,978
% Change
5.8
%
6.0
%
Equivalent Admissions
975,130
926,526
1,936,030
1,839,489
% Change
5.2
%
5.2
%
Revenue per Equivalent Admission
$
17,503
$
16,766
$
17,534
$
16,876
% Change
4.4
%
3.9
%
Inpatient Revenue per Admission
$
18,845
$
17,718
$
18,904
$
17,755
% Change
6.4
%
6.5
%
Inpatient Surgery Cases
135,129
131,656
267,294
261,584
% Change
2.6
%
2.2
%
Outpatient Surgery Cases
254,371
259,733
502,037
512,575
% Change
-2.1
%
-2.1
%
Emergency Room Visits
2,400,248
2,275,021
4,800,438
4,513,084
% Change
5.5
%
6.4
%
* Excludes freestanding endoscopy centers (23 centers
at June 30, 2024 and 22 centers at June 30, 2023). ** Reflects the
rate of occupancy (patient days and observations) based on weighted
average beds in service.
HCA Healthcare, Inc.
Supplemental Non-GAAP Disclosures Operating Results
Summary (Dollars in millions, except per share amounts)
For Six Months Second Quarter Ended
June 30,
2024
2023
2024
2023
Revenues
$
17,492
$
15,861
$
34,831
$
31,452
Net income attributable to HCA Healthcare, Inc.
$
1,461
$
1,193
$
3,052
$
2,556
Losses (gains) on sales of facilities (net of tax)
(9
)
-
(163
)
22
Net income attributable to HCA Healthcare, Inc., as adjusted (a)
1,452
1,193
2,889
2,578
Depreciation and amortization
819
763
1,614
1,519
Interest expense
506
485
1,018
964
Provision for income taxes
547
396
945
768
Net income attributable to noncontrolling interests
226
219
437
399
Adjusted EBITDA (a)
$
3,550
$
3,056
$
6,903
$
6,228
Adjusted EBITDA margin (a)
20.3
%
19.3
%
19.8
%
19.8
%
Diluted earnings per share: Net income attributable to HCA
Healthcare, Inc.
$
5.53
$
4.29
$
11.47
$
9.14
Losses (gains) on sales of facilities
(0.03
)
-
(0.61
)
0.08
Net income attributable to HCA Healthcare, Inc., as adjusted (a)
$
5.50
$
4.29
$
10.86
$
9.22
Shares used in computing diluted earnings per share
(millions)
264.071
278.198
266.044
279.573
(a) Net income attributable to HCA Healthcare,
Inc., as adjusted, diluted earnings per share, as adjusted, and
Adjusted EBITDA should not be considered as measures of financial
performance under generally accepted accounting principles
("GAAP"). These non-GAAP financial measures are adjusted to exclude
losses (gains) on sales of facilities and losses on retirement of
debt. We believe net income attributable to HCA Healthcare, Inc.,
as adjusted, diluted earnings per share, as adjusted, and Adjusted
EBITDA are important measures that supplement discussions and
analysis of our results of operations. We believe it is useful to
investors to provide disclosures of our results of operations on
the same basis used by management. Management relies upon net
income attributable to HCA Healthcare, Inc., as adjusted, diluted
earnings per share, as adjusted, and Adjusted EBITDA as the primary
measures to review and assess operating performance of its health
care facilities and their management teams. Management and
investors review both the overall performance (including net income
attributable to HCA Healthcare, Inc., as adjusted, diluted earnings
per share, as adjusted, and GAAP net income attributable to HCA
Healthcare, Inc.) and operating performance (Adjusted EBITDA) of
our health care facilities. Adjusted EBITDA and the Adjusted EBITDA
margin (Adjusted EBITDA divided by revenues) are utilized by
management and investors to compare our current operating results
with the corresponding periods during the previous year and to
compare our operating results with other companies in the health
care industry. It is reasonable to expect that adjustments,
including losses (gains) on sales of facilities and losses on
retirement of debt will occur in future periods, but the amounts
recognized can vary significantly from period to period, do not
directly relate to the ongoing operations of our health care
facilities and complicate period comparisons of our results of
operations and operations comparisons with other health care
companies. Net income attributable to HCA Healthcare, Inc.,
as adjusted, diluted earnings per share, as adjusted, and Adjusted
EBITDA are not measures of financial performance under GAAP, and
should not be considered as alternatives to net income attributable
to HCA Healthcare, Inc. as a measure of operating performance or
cash flows from operating, investing and financing activities as a
measure of liquidity. Because net income attributable to HCA
Healthcare, Inc., as adjusted, diluted earnings per share, as
adjusted, and Adjusted EBITDA are not measurements determined in
accordance with GAAP and are susceptible to varying calculations,
net income attributable to HCA Healthcare, Inc., as adjusted,
diluted earnings per share, as adjusted, and Adjusted EBITDA, as
presented, may not be comparable to other similarly titled measures
presented by other companies.
HCA Healthcare, Inc.
Supplemental Non-GAAP Disclosures 2024 Operating Results
Forecast (Dollars in millions, except per share amounts)
For the Year Ending December 31, 2024
Low High Revenues
$
69,750
$
71,750
Net income attributable to HCA Healthcare, Inc. (a)
$
5,675
$
5,975
Depreciation and amortization
3,245
3,295
Interest expense
2,065
2,095
Provision for income taxes
1,860
1,950
Net income attributable to noncontrolling interests
905
935
Adjusted EBITDA (a) (b)
$
13,750
$
14,250
Diluted earnings per share: Net income attributable to HCA
Healthcare, Inc.
$
21.60
$
22.80
Shares used in computing diluted earnings per share
(millions)
262.000
262.000
The Company's forecasted guidance range is based on current
plans and expectations and is subject to a number of known and
unknown uncertainties and risks. (a) The Company does
not forecast the impact of items such as, but not limited to,
losses (gains) on sales of facilities, losses on retirement of
debt, legal claim costs (benefits) and impairments of long-lived
assets because the Company does not believe that it can forecast
these items with sufficient accuracy. (b) Adjusted EBITDA
should not be considered a measure of financial performance under
generally accepted accounting principles ("GAAP"). We believe
Adjusted EBITDA is an important measure that supplements
discussions and analysis of our results of operations. We believe
it is useful to investors to provide disclosures of our results of
operations on the same basis used by management. Management relies
upon Adjusted EBITDA as a primary measure to review and assess
operating performance of its health care facilities and their
management teams. Management and investors review both the
overall performance (including net income attributable to HCA
Healthcare, Inc.) and operating performance (Adjusted EBITDA) of
our health care facilities. Adjusted EBITDA is utilized by
management and investors to compare our current operating results
with the corresponding periods during the previous year and to
compare our operating results with other companies in the health
care industry. Adjusted EBITDA is not a measure of financial
performance under GAAP and should not be considered as an
alternative to net income attributable to HCA Healthcare, Inc. as a
measure of operating performance or cash flows from operating,
investing and financing activities as a measure of liquidity.
Because Adjusted EBITDA is not a measurement determined in
accordance with GAAP and is susceptible to varying calculations,
Adjusted EBITDA, as presented, may not be comparable to other
similarly titled measures presented by other companies.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240723606355/en/
INVESTOR CONTACT: Frank Morgan 615-344-2688 MEDIA
CONTACT: Harlow Sumerford 615-344-1851
HCA Healthcare (NYSE:HCA)
過去 株価チャート
から 6 2024 まで 7 2024
HCA Healthcare (NYSE:HCA)
過去 株価チャート
から 7 2023 まで 7 2024
