HCA Healthcare Stock Drops 7% On Q2 Profit, Revenue Misses

By Emma CourtMarketsMarketWatch Pulse

HCA Healthcare Inc. stock dropped as much as 7% in premarket trade Tuesday after the company reported second-quarter profit and revenue misses. Earnings for the latest quarter declined to $657 million, or $1.75 per share, from $658 million, or $1.65 per share in the year-earlier period. The FactSet EPS consensus is $1.80. Revenue rose to $10.73 billion from $10.32 billion, compared with the FactSet consensus of $10.76 billion. The latest results include 1 cent per share in gains on sales of facilities and 2 cents per share in legal claim costs, HCA said. The company affirmed its 2017 revenue outlook of $43 million to $44 million but cut its 2017 EPS outlook to between $7 and $7.30 from between $7.20 and $7.60. HCA shares have risen 1.8% over the last three months, compared with a 3.4% rise in the S&P 500 .

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