NYSE$HCA

HCA Holdings Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

HCA Healthcare's financial performance was strong, marked by revenue growth and increased profitability.

HCA Healthcare reported a revenue of $13.523 billion and net income of $1.071 billion for Q4 2019. Adjusted EBITDA totaled $2.738 billion. Same facility admissions and equivalent admissions increased by 4.7% and 5.0%, respectively.

  • Revenues reached $13.523 billion, marking an increase from $12.274 billion in Q4 2018.
  • Net income attributable to HCA Healthcare, Inc. was $1.071 billion, or $3.09 per diluted share.
  • Adjusted EBITDA amounted to $2.738 billion, up from $2.508 billion in the prior year.
  • Cash flows from operating activities totaled $2.505 billion.

Headline financials

Total Revenue

$13.5B

Previous: $12.3B+10.2%
EPS (adj)

$3.09

Previous: $2.95+4.7%
Admissions

540.2K

No prior period
Number of Hospitals

184

No prior period
Licensed Beds at End of Period

49.0K

No prior period
Occupancy

57.8%

No prior period
Average Length of Stay (days)

4.815

No prior period
Capital Expenditures

$1.27B

Previous: $1.15B+10.5%
Free Cash Flow

$2.51B

Previous: $1.02B+145.1%
Net Income

$1.07B

Previous: $1.06B+0.7%
Operating Income

$1.61B

No prior period
Gross Profit

$11.3B

Previous: $10.3B+9.9%
Cash & Equivalents

$621M

Previous: $502M+23.7%
Total Assets

$45.1B

Previous: $39.2B+14.9%
Stock-Based Comp

$84M

Previous: $64M+31.3%

Revenue & EPS history

HCA · Revenue · Quarterly

$13.5B

Q4 2019+10.2%vs Q4 2018
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Forward guidance

HCA issued estimated guidance for 2020, projecting revenues between $53.5 to $55.5 billion, Adjusted EBITDA between $10.25 to $10.65 billion, and EPS between $11.30 to $12.10 per diluted share. Capital expenditures are expected to be $4.0 to $4.2 billion.

Tailwinds

  • Revenues are projected to be between $53.5 and $55.5 billion.
  • Adjusted EBITDA is expected to range from $10.25 to $10.65 billion.
  • EPS (diluted) is anticipated to be between $11.30 and $12.10 per diluted share.
  • Company's guidance is based on current plans and expectations.
  • Future dividends are expected to be funded by future cash flows from operations.

Headwinds

  • Guidance excludes the impact of items such as gains or losses on sales of facilities.
  • Guidance excludes the impact of losses on retirement of debt.
  • Guidance excludes the impact of legal claims costs.
  • Guidance excludes the impact of impairment of long-lived assets.
  • Company's guidance is subject to a number of known and unknown uncertainties and risks.

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 Q4 2019

Historical avgQ4 2019

-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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