HCA Beats Profit Expectations, But Revenue Falls Shy

HCA Holdings Inc. reported Thursday second-quarter earnings of $658 million, or $1.65 a share, up from $507 million, or $1.18 a share, in the same period a year ago. The results include a gain of 1 cent a share from the sale of facilities and legal claim costs of 2 cents a share. The FactSet EPS consensus was $1.56. Total revenue rose to $10.3 billion from $9.9 billion, just shy of the FactSet consensus of $10.5 billion. Provision for doubtful accounts declined to $762 million from $1.04 billion. Looking ahead, the health care services company expects adjusted EPS of $6.40 to $6.70, surrounding the FactSet consensus of $6.51. Revenue is expected to be $41.0 billion to $42.0 billion, compared with the FactSet consensus of $42.1 billion. The stock, which fell 1.3% in light premarket trade, has climbed 15% year to date through Wednesday, while the S&P 500 gained 6%.