HCA Holdings (HCA) Offers Prelim. Q2 Results; Revenue, EPS Top Expectations
HCA Holdings (NYSE: HCA) announced preliminary financial and operating results for its second quarter ended June 30, 2015. The financial results are subject to finalization of the Company’s quarterly financial and accounting procedures.
HCA anticipates revenues for the second quarter of 2015 should approximate $9.897 billion compared to $9.230 billion in the second quarter of 2014. Income before income taxes for the second quarter is expected to approximate $984 million compared to $904 million in the prior year period. Net income per diluted share for the second quarter of 2015 is expected to be approximately $1.18 per diluted share compared to $1.07 per diluted share for the second quarter of 2014. Adjusted EBITDA for the second quarter of 2015 is expected to be approximately $2.008 billion compared to $2.000 billion in the previous year’s second quarter. Adjusted EBITDA is a non-GAAP financial measure. A table reconciling expected income before income taxes to Adjusted EBITDA is included in this release.
The second quarter 2015 results are expected to include losses on retirement of debt of approximately $125 million, or $0.18 per diluted share, and losses on sales of facilities of approximately $5 million, or $0.01 per diluted share. The second quarter 2014 results include a $142 million, or $0.20 per diluted share, adjustment to increase Medicaid revenues related to the receipt of reimbursements in excess of our estimates for the indigent care component of the Texas Medicaid Waiver Program for the program year ended September 30, 2013. Second quarter 2014 results also include losses on retirement of debt of $226 million, or $0.32 per diluted share, and gains on sales of facilities of $11 million, or $0.02 per diluted share.
**** The Street sees Q2 EPS of $1.32 and revenue of $9.77 billion.
Same facility admissions for the second quarter of 2015 increased 4.1 percent, while same facility equivalent admissions increased 4.9 percent. Same facility emergency room visits for the second quarter of 2015 increased 7.4 percent from the prior year’s second quarter.
Same facility revenue per equivalent admission is expected to increase approximately 2.8 percent in the second quarter of 2015 compared to the prior year’s second quarter, after adjusting second quarter 2014 revenues to exclude the impact of the $142 million adjustment to increase revenues related to the Texas Medicaid Waiver Program.
The Company now anticipates its Adjusted EBITDA for the year ending December 31, 2015 to be near the high-end of its previously issued guidance range of $7.55 to $7.85 billion.
HCA anticipates reporting its complete financial results for the second quarter of 2015 on, or about, August 5, 2015.
