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HCA beats first-quarter profit estimates on higher patient admissions
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HCA beats first-quarter profit estimates on higher patient admissions
Apr 26, 2024 5:11 AM

April 26 (Reuters) - HCA Healthcare ( HCA ) on Friday

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% increase in

same-facility admissions, while emergency room visits increased

by 7.2%.

HCA posted quarterly revenue of $17.34 billion, beating

estimates of $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 United

States, while others also said a shift in the preference for

more efficient setting such as ambulatory care centers that do

not require patients to stay overnight has also aided demand.

The largest for-profit hospital operator in the United

States reported an adjusted profit of $5.36 per share for the

quarter. Analysts on average had expected a profit of $5.01 per

share, according to LSEG data.

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