HCA beats first-quarter profit estimates on higher patient admissions
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HCA Healthcare on Friday (Apr 26) beat Wall Street estimates for quarterly profit, helped by higher patient admissions due to demand for healthcare services.
The hospital operator, however, reaffirmed its annual forecast.
In the first quarter, HCA saw a 6.2 per cent increase in same-facility admissions, while emergency room visits increased by 7.2 per cent.
HCA posted quarterly revenue of US$17.34 billion, beating estimates of US$16.78 billion.
Demand for medical care has been healthy even after the Covid-induced backlog has cleared, analysts say. Some have attributed it to an overall ageing population in the US, while others also said a shift in the preference for more efficient setting such as ambulatory care centres that do not require patients to stay overnight has also aided demand.
The largest for-profit hospital operator in the US reported an adjusted profit of US$5.36 per share for the quarter. Analysts on average had expected a profit of US$5.01 per share, according to LSEG data. REUTERS
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