By Ciara Linnane

Disruptions at facilities in affected states, driven by losses and revenue losses

HCA Healthcare Inc.’s stock fell 9% Friday morning after the hospital operator’s third-quarter profit fell short of estimates as the company posted losses and lost revenue when Hurricane Helene disrupted operations at facilities in affected states.

Nashville, Tenn.-based HCA (HCA) reported net income of $1.270 billion, or $4.88 per share, for the quarter, compared with $1.079 billion, or $3.91 per share, for the period of the previous year. The company said Hurricane Helene reduced its EPS by about 15 cents as facilities in affected states were impacted, while a loss on facility sales reduced another 2 cents.

Revenue increased to $17.487 billion from $16.213 billion a year ago.

The FactSet consensus forecast EPS of $4.96 and revenue of $17.540 billion.

Admissions to the same institution increased by 4.5% and equivalent admissions to the same institution increased by 4.5%. Same-facility emergency room visits increased 4.6%, while same-facility inpatient surgeries increased 1.6% and same-facility outpatient surgeries decreased 2%.

HCA expects the impact of Hurricane Helene on North Carolina facilities and Hurricane Milton on Florida facilities in October to reduce fourth quarter EPS by 60 to 90 cents.

For the full year, it expects earnings to be at the lower end of its forecast range. But the company is more optimistic for 2025, where it expects to be at or slightly above the upper end of the ranges.

The company expects full-year EPS to be between $21.60 and $22.80 and revenue to be between $69.750 billion and $71.750 billion. The FactSet consensus forecasts EPS of $22.48 and revenue of $70.832 billion.

The stock has gained 37% year to date, while the S&P 500 has gained 21.8%.

-Ciara Linnane

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25/10/24 0816ET

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