NYSE$HCA

HCA Holdings Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

HCA Healthcare's financial performance for Q1 2021 was reported, showing increased revenues and net income compared to the same period last year, along with revised full-year guidance.

HCA Healthcare reported strong first-quarter results with revenues of $13.977 billion and net income of $1.423 billion, or $4.14 per diluted share. The company also revised its 2021 full-year guidance, reflecting confidence in its operating performance.

  • Revenues totaled $13.977 billion, an increase from $12.861 billion in Q1 2020.
  • Net income attributable to HCA Healthcare, Inc. was $1.423 billion, or $4.14 per diluted share, compared to $581 million, or $1.69 per diluted share in Q1 2020.
  • Adjusted EBITDA totaled $3.052 billion, compared to $2.200 billion in the first quarter of 2020.
  • Cash flows from operating activities totaled $1.988 billion, compared to $1.375 billion in the first quarter of 2020.

Headline financials

Total Revenue

$14B

Previous: $12.9B+8.7%
EPS (adj)

$4.14

Previous: $2.33+77.7%
Admissions

506.4K

Previous: 528.2K-4.1%
Number of Hospitals

186

Previous: 186+0.0%
Licensed Beds at End of Period

49.6K

Previous: 49.4K+0.4%
Occupancy

70.1%

Previous: 58.6%+19.6%
Average Length of Stay (days)

5.275

Previous: 4.965+6.2%
Capital Expenditures

-$654M

Previous: -$853M+23.3%
Free Cash Flow

$769M

Previous: -$272M+382.7%
Net Income

$1.42B

Previous: $581M+144.9%
Operating Income

-$2.51B

Previous: -$2.52B+0.4%
Gross Profit

$11.8B

Previous: $10.7B+9.5%
Cash & Equivalents

$1.03B

Previous: $731M+40.9%
Total Assets

$47.3B

Previous: $45.4B+4.1%
Stock-Based Comp

$97M

Previous: $82M+18.3%

Revenue & EPS history

HCA · Revenue · Quarterly

$14B

Q1 2021+8.7%vs Q1 2020
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Forward guidance

The 2021 guidance ranges for the year have been revised from our fourth quarter release and are as follows:

Tailwinds

  • Revenues $54.0 to $55.5 billion
  • Adjusted EBITDA $10.85 to $11.35 billion
  • EPS (diluted) $13.30 to $14.30 per diluted share
  • Capital Expenditures Approximately $3.7 billion

Headwinds

  • The Company’s 2021 guidance contains a number of assumptions, including, among others, the Company’s current expectations regarding the impact of the COVID-19 pandemic and related government legislation
  • excludes the impact of items such as, but not limited to, gains or losses on sales of facilities, losses on retirement of debt, legal claims costs and impairment of long-lived assets.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

-0.1%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+2.9%

Avg return

30 days after

47%

31 / 66 earnings

Positive

+16.1%

Q2 2020

Best reaction

-21.9%

Q1 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-5.2%-8.3%-16.8%
Q4 2025+6.2%+3.4%+11.3%
Q3 2025+1.5%+6.4%+11.6%
Q2 2025+0.8%+3.1%+3.8%
Q1 2025-4.0%+1.1%+10.3%
Q4 2024-3.8%+0.7%-2.7%
Q3 2024-10.6%-9.5%-18.5%
Q2 2024+5.7%+9.0%+17.7%
Q1 2024-0.9%-1.5%+1.5%
Q4 2023+6.3%+7.9%+8.7%
Q3 2023-6.5%-6.5%+5.0%
Q2 2023-3.2%-2.9%-3.2%
Q1 2023+5.7%+2.7%+4.3%
Q4 2022-0.6%+2.6%-2.2%
Q3 2022+0.8%+4.3%+10.3%
Q2 2022+9.6%+12.9%+18.6%
Q1 2022-21.9%-21.2%-24.0%
Q4 2021-1.4%-1.1%+5.5%
Q3 2021-7.0%-5.6%-8.1%
Q2 2021+14.5%+14.2%+13.3%
Q1 2021+2.5%+0.7%+4.5%
Q4 2020+3.7%+5.9%+5.6%
Q3 2020-4.4%-9.3%+12.5%
Q2 2020+16.1%+14.6%+21.2%
Q1 2020-5.4%-2.4%-2.2%
Q4 2019+2.6%-2.0%-10.1%
Q3 2019+6.2%+5.3%+10.3%
Q2 2019-8.7%-13.0%-17.4%
Q1 2019-1.1%+0.2%-2.3%
Q4 2018+5.6%+6.1%+5.5%
Q3 2018+3.5%+4.2%+12.0%
Q2 2018+14.9%+14.7%+21.4%
Q1 2018+2.1%+1.9%+7.7%
Q4 2017+3.6%+2.1%+1.9%
Q3 2017+0.9%+0.3%+11.6%
Q2 2017-5.2%-6.6%-7.9%
Q1 2017-1.2%-0.4%-0.1%
Q4 2016+3.4%+5.7%+10.2%
Q3 2016-2.1%-4.5%-9.6%
Q2 2016-1.1%-3.8%-4.8%
Q1 2016-1.7%
Q4 2015+3.1%
Q3 2015-0.1%
Q2 2015-2.8%
Q1 2015-1.2%
Q4 2014-1.7%
Q3 2014-2.1%
Q2 2014+4.1%
Q1 2014-1.2%
Q4 2013-1.0%
Q3 2013-5.1%
Q2 2013+0.1%
Q1 2013+3.8%
Q4 2012-1.1%
Q3 2012+8.0%
Q2 2012+1.1%
Q1 2012-1.1%
Q4 2009+3.5%
Q4 2011+3.5%
Q3 2011+2.6%
Q3 2010+2.6%
Q2 2011-20.6%
Q2 2010-20.6%
Q1 2011-0.2%
Q1 2010-0.2%
Q4 2010-0.2%

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