HCA Healthcare has reported a net income attributable to the company of $1.46bn in the second quarter (Q2) of 2024, up 22.4% from $1.19bn in the corresponding quarter of 2023.
For the reported quarter ending 30 June 2024, the company’s diluted earnings per share stood at $5.53, marking an increase from the $4.29 per diluted share reported in the same period last year.
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HCA’s revenue in Q2 2024 saw an upswing, totalling $17.49bn compared to $15.86bn in Q2 2023.
The company said its reported quarter’s results also include gains on sales of facilities amounting to $12m, which translated to $0.03 per diluted share.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for Q2 2024 was $3.55bn, up from $3.05bn in Q2 2023.
In terms of service demand, same facility admissions and equivalent admissions saw increases of 5.8% and 5.2% respectively in Q2 2024, compared to the prior year.
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By GlobalDataEmergency room visits at the same facilities also rose by 5.5% during this quarter.
Surgical procedures experienced mixed trends, with same-facility inpatient surgeries increasing by 2.6%, while outpatient surgeries witnessed a slight decline of 2.1%.
Revenue per equivalent admission at the same facilities grew by 4.4% in Q2 2024, compared to Q2 2023, the company reported.
During the first half (H1) of 2024, revenues for the six months ended 30 June reached $34.83bn, an increase from $31.45bn in the same period of 2023.
In H1 2024, net income attributable to HCA Healthcare was $3.05bn, as against $2.55bn in H1 2023.
The six-month results for 2024 also reflect gains on sales of facilities totalling $213m, contrasting with losses of $14m, in the same period of 2023.
Operational cash flows for Q2 2024 were reported at $1.97bn, a decrease from $2.47bn generated in Q2 2023.
HCA Healthcare operated 188 hospitals and approximately 2,400 ambulatory sites of care, including surgery centres, urgent care centres, freestanding emergency rooms, and physician clinics across 20 US states and the UK as of the end of the quarter.
HCA Healthcare CEO Sam Hazen said: “The company’s results for the second quarter were positive and reflected strong demand for our services.
“Our teams continued to execute our strategic plan effectively and produce positive outcomes for our patients. I want to thank our HCA colleagues for their outstanding work and their continued pursuits to innovate and deliver on our mission.”
