HCA Holdings Inc. stock slumped 2% in premarket trade Monday after the company warned of a first-quarter revenue and earnings miss. HCA Holdings expects earnings of $659 million, or $1.74 per share, down from $694 million, or $1.69 per share, in the year-earlier period. Earnings of $1.74 per share are below the FactSet consensus of $1.79. The company reaffirmed its 2017 financial guidance. HCA Holdings expects revenue of $10.6 billion, below the FactSet consensus of $10.7 billion. The latest results can be attributed to changes in payer mix, including a slightly higher percentage of Medicare admissions, and a slightly lower percentage of same facility managed care/health exchange admissions, the company said. The company said same facility admissions increased 1.2% in the first quarter and same facility equivalent admissions increased 1.6%, with same facility emergency room visits increasing 1.1%. The company plans to report earnings around May 2, it said. HCA Holdings shares have risen 8.4% over the last three months, compared with a 2.7% rise in the S&P 500 .
Continue Reading Below
Copyright © 2017 MarketWatch, Inc.