HCA Healthcare, Inc. (NYSE:HCA) reported fourth-quarter 2019 adjusted earnings of $3.09 per share, surpassing the Zacks Consensus Estimate by 0.9%. Moreover, the bottom line inched up 3.3% year over year on the back of higher revenues and increased admissions.
Quarterly Details
HCA Healthcare generated revenues of $13.5 billion, beating the Zacks Consensus Estimate by 1.6%. The top line was also up 10.2% from the year-ago period.
Same facility equivalent admissions increased 5% year over year while same facility admissions rose 4.7%. Same facility revenue per equivalent admission also grew 1.1% year over year.
Salaries and benefits, supplies and other operating expenses increased 10.6 % year over year to $10.8 billion.
Adjusted EBITDA totaled $2.7 billion, up 9.2% year over year.
As of Dec 31, 2019, HCA Healthcare operated 184 hospitals.
Financial Update
As of Dec 31, 2019, the company had cash and cash equivalents of about $621 million, total debt of $33.72 billion and total assets of $45.05 billion.
In the reported quarter, capex came in at $1.27 billion minus acquisitions.
Cash flows provided by operating activities were $2.5 billion, up 15.2% year over year.
Dividend and Share Repurchase Update
HCA Healthcare announced a quarterly cash dividend of 43 cents per share payable Mar 31 to its stockholders of record at the close of business on Mar 2.
The company bought back shares worth $272 million in the fourth quarter and had $1.24 billion remaining under its current repurchase authorization as of Dec 31, 2019.
Full-Year Results
The company reported 2019 revenues of $51.3 billion, up 9.95% year over year.
Net income of the company was $10.07 per share, down 5.5% year over year.
2020 Outlook
Following fourth-quarter results, the company has provided its 2020 guidance.
It expects its 2020 revenues in the band of $53.5-$55.5 billion. Adjusted EBITDA is projected to a new range of $10.25-10.65 billion.
Capital expenditures are anticipated in the range of $4-$4.2 billion.
The company expects its EPS in the bracket of $11.30-$12.10 per share.
Zacks Rank
HCA Healthcare carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases From Medical Sector
Some stocks worth considering from the medical sector with a perfect mix of elements to surpass estimates in the upcoming quarterly releases are as follows:
AmerisourceBergen Corporation (NYSE:ABC) is slated to announce fourth-quarter earnings on Jan 30. The stock has an Earnings ESP of +0.82% and is Zacks #3 Ranked.
Molina Healthcare, Inc (NYSE:MOH) has an Earnings ESP of +0.48% and a Zacks Rank of 3. The company is scheduled to release fourth-quarter earnings on Feb 10.
Teladoc Health, Inc. (NYSE:TDOC) is set to report fourth-quarter earnings on Feb 26. The stock is #3 Ranked and has an Earnings ESP of +11.17%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Molina Healthcare, Inc (MOH): Free Stock Analysis Report
HCA Healthcare, Inc. (HCA): Free Stock Analysis Report
Teladoc Health, Inc. (TDOC): Free Stock Analysis Report
AmerisourceBergen Corporation (ABC): Free Stock Analysis Report
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