展示99.1
即時リリース
投資家連絡先： |
|
「さらに読む」 |
フランク・モーガン |
|
Harlow Sumerford |
615-344-2688 |
|
615-344-1851 |
HCA Healthcare reports THIRD quarter 2024 results
Nashville, Tenn., October 25, 2024 – hcaヘルスケア、インク。 (nyse: hca)は、2024年9月30日に終了した第3四半期の財務および営業結果を発表しました。
全セクターの第3四半期の主要メトリクス (すべてのパーセンテージの変化は、特に記載がない限り、2024年第3四半期と2023年第3四半期を比較)
「最近、そして勇敢に、HCAヘルスケアは2週間未満で二つの大型ハリケーンに対応しました。これらの嵐の前から、嵐中、そして後において、HCAヘルスケアのチームワークとエンタープライズ能力が完全に発揮されました。私は、これらの嵐を通じて我々の人々が示した絶え間ない献身、顕著な勇気、優れたリーダーシップに感謝し、感銘を受けています。彼らは本当に、他の何よりも、人間の生活のケアと向上に専念していることを証明しました。」とHCAヘルスケアの最高経営責任者サム・ヘイゼン氏は述べました。
2024年第3四半期の収益は174.87億ドルで、2023年第3四半期の162.13億ドルと比較して増加しました。HCAヘルスケアに帰属する当期純利益は12.7億ドル、希薄化後シェア当たり4.88ドルで、2023年第3四半期の10.79億ドル、希薄化後シェア当たり3.91ドルと比較して増加しました。2024年第3四半期の結果には施設売却に伴う損失400万ドル、または希薄化後シェア当たり0.02ドルが含まれています。
2024年第3四半期の調整後EBITDAは32.67億ドルで、2023年第3四半期の28.8億ドルと比較して増加しました。調整後EBITDAは一般に受け入れられる会計原則外の財務指標です。調整後EBITDAとHCAヘルスケアに帰属する当期純利益を調整後EBITDAに調整する補足情報を提供する表がこのリリースに含まれています。
2023年第3四半期には、収益が39700万ドル、フロリダ指向支払いプログラムの終了に関連する営業費用が19500万ドル含まれていました。
1
同じ施設の入院患者数は2024年第3四半期に前年同期比で4.5％増加し、同等入院患者数も4.5％増加しました。同じ施設の緊急外来受診は2024年第3四半期に前年同期比で4.6％増加し、同じ施設の入院手術は1.6％増加し、同じ施設の外来手術は2.0％減少しました。2024年第3四半期における同等入院患者当たりの収益は、2023年第3四半期と比較して2.5％増加しました。
2024年9月30日までの9ヶ月間
2024年9月30日までの9か月間の売上は、2023年の同時期の476.65億ドルに対して、523.18億ドルでした。HCAヘルスケア社に帰属する当期純利益は43.22億ドルで、希薄化後シェアあたり16.37ドルで、2023年の最初の9か月間の36.35億ドル、希薄化後シェアあたり13.07ドルと比較しています。2024年9月30日までの9か月間の結果には、施設売却による利益20900万ドル、希薄化後シェアあたり0.61ドルが含まれています。一方、2023年9月30日までの9か月間の結果には、施設売却による損失1200万ドル、希薄化後シェアあたり0.07ドルが含まれています。
ハリケーンの影響
2024年第3四半期に、企業はフロリダ、ジョージア、ノースカロライナにある施設にハリケーンHeleneがもたらした影響に関連する追加費用と売上高損失を5000万ドル、希薄化後シェアあたり0.15ドルと見積もりました。
2024年第4四半期に、企業はハリケーンHeleneによる北カロライナの施設への持続的な追加費用と売上高損失、および10月にフロリダの一部の施設に影響を与えたハリケーンMiltonによる損失を、約2億〜30000万ドル、希薄化後シェアあたり0.60〜0.90ドルと見積もっています。これらの見積もりには、企業が受け取る可能性のある保険金は含まれていません。
2024年の見通し
本日、企業は2024年の見積もりガイダンス範囲を再確認しました。今年残りの期間における2つの大型ハリケーンの持続的な影響を考慮すると、企業は結果が提供された範囲の下半分になりそうだと評価しています。
2024年の資本支出は、買収を除いて約50億ドルと見積もられています。
当社のガイダンスには、様々な仮定が含まれており、その中には、会社の出来高成長への期待と予想されるほぼ安定した運営環境、ペイヤーミックス、2つの大型ハリケーンの影響、一般的なインフレを含む経済状況、施設の売却に伴う利益または損失、債務の解約に伴う損失、法的請求コスト、そして長期資産の損耗などの影響は除外されています。
調整後EBITDAは非GAAP財務指標です。予測されるHCAヘルスケア株式会社に帰属する当期純利益と予測される調整後EBITDAを調整した表が、このリリースに含まれています。
会社の2024年のガイダンスおよび続く2025年の展望は、現在の計画と期待に基づいており、一連の既知および未知の不確実性とリスクに影響を受けています。これは、会社の「将来を見据えた声明」で以下に記載されているものを含むものです。
2
2025年初の展望
会社は、ノースカロライナ州の施設について2025年にハリケーンHeleneからの影響が継続することを予想していますが、会社はこれらの継続的な影響を管理可能であり、2025年の希薄化後1株当たりの収益と調整後EBITDA成長は、長期成長範囲の上限近く、またはわずかに上回ると現在予想しています。この2025年初の展望は、2025年の企画プロセスが完了し、変更される可能性があります。2025年に関連する追加の早期コメントは、今日の決算説明会通話で提供される予定です。
貸借対照表と運用キャッシュフロー
2024年9月30日時点で、hcaヘルスケア社の貸借対照表には現金及び現金同等物が28.88億ドル、総負債が429.65億ドル、総資産が594.59億ドルが反映されていました。2024年第3四半期には、資本支出は11.91億ドル（買収費用を除く）、運用活動によるキャッシュフローは、2024年第3四半期には35.15億ドルで、2023年第3四半期の24.79億ドルと比較していました。
2024年第3四半期に、会社は普通株式494.8万株を17.95億ドルで取り戻しました。2024年9月30日時点で、取り戻し権限の下に残っている資金は24.33億ドルでした。同期日時点で、会社はクレジット施設で79.86億ドルの利用可能額を有していました。
配当
HCAは本日、取締役会が会社の普通株式に対して1株当たり0.66ドルの四半期配当を宣言したことを発表しました。配当金は2024年12月13日の取引終了時に会社株主に支払われる予定です。
将来の配当の宣言と支払いは取締役会の裁量に従い、会社の財務状況など、さまざまな要因に依存することになります。 将来の配当金は、現金残高および運営活動からの将来の現金流入によって賄われる予定です。
会議呼び出し： 通話料金無料ダイヤル番号
hcaヘルスケアは、本日午前9時（中部時間）に投資家向けのコールを開催します。ご興味のある投資家の皆様は、ウェブキャストを通じてコールのライブオーディオ放送にアクセスいただけます。放送は、当日午後からリプレイ形式でも提供されます。ウェブキャストは、当社の投資家向けウェブページからアクセスできます。 https://investor.hcahealthcare.com/events-and-presentations/default.aspx.
FLCXは技術企業であり、教育、医療、消費者、ビジネスなど全セクターに向けて、直接エネルギーシステムの利点を提供します。
2024年9月30日現在、hcaは、イギリスを含む20州において、187の病院と約2,400の診療所（手術センター、独立型救急室、救急ケアセンター、医師クリニックを含む）を運営しています。
3
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, which involve risks and uncertainties. Forward-looking statements include the Company’s financial guidance for the year ending December 31, 2024 and initial perspectives on the outlook for 2025, as well as other statements that do not relate solely to historical or current facts. Forward-looking statements can be identified by the use of words like “may,” “believe,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “initiative” or “continue.” These forward-looking statements are based on our current plans and expectations and are subject to a number of known and unknown uncertainties and risks, many of which are beyond our control, which could significantly affect current plans and expectations and our future financial position and results of operations. These factors include, but are not limited to, (1) changes in or related to general economic conditions nationally and regionally in our markets, including inflation and economic and business conditions (and the impact thereof on the economy, financial markets and banking industry); changes in revenues due to declining patient volumes; changes in payer mix (including increases in uninsured and underinsured patients); potential increased expenses related to labor, supply chain or other expenditures; workforce disruptions; supply shortages and disruptions (including as a result of geopolitical disruptions); and the impact of potential federal government shutdowns, (2) the impact of our significant indebtedness and the ability to refinance such indebtedness on acceptable terms, (3) the impact of current and future federal and state health reform initiatives and possible changes to other federal, state or local laws and regulations affecting the health care industry, including, but not limited to, proposals to expand coverage of federally-funded insurance programs as an alternative to private insurance or establish a single-payer system (such reforms often referred to as “Medicare for All”), and the expiration of enhanced subsidies for individuals eligible to purchase insurance coverage through federal and state-based health insurance marketplaces, (4) the effects related to the implementation of sequestration spending reductions required under the Budget Control Act of 2011, related legislation extending these reductions and those required under the Pay-As-You-Go Act of 2010 as a result of the federal budget deficit impact of the American Rescue Plan Act of 2021, and the potential for future deficit reduction legislation that may alter these spending reductions, which include cuts to Medicare payments, or create additional spending reductions, (5) increases in the amount and risk of collectability of uninsured accounts and deductibles and copayment amounts for insured accounts, (6) the ability to achieve operating and financial targets, attain expected levels of patient volumes and revenues, and control the costs of providing services, (7) possible changes in Medicare, Medicaid and other state programs, including Medicaid supplemental payment programs, Medicaid waiver programs or state directed payments, that may impact reimbursements to health care providers and insurers and the size of the uninsured or underinsured population, (8) personnel-related capacity constraints, increases in wages and the ability to attract, utilize and retain qualified management and other personnel, including affiliated physicians, nurses and medical and technical support personnel, (9) the highly competitive nature of the health care business, (10) changes in service mix, revenue mix and surgical volumes, including potential declines in the population covered under third-party payer agreements, the ability to enter into and renew third-party payer provider agreements on acceptable terms and the impact of consumer-driven health plans and physician utilization trends and practices, (11) the efforts of health insurers, health care providers, large employer groups and others to contain health care costs, (12) the outcome of our continuing efforts to monitor, maintain and comply with appropriate laws, regulations, policies and procedures, (13) the availability and terms of capital to fund the expansion of our business and improvements to our existing facilities, (14) changes in accounting practices, (15) the emergence of and effects related to pandemics, epidemics and outbreaks of infectious diseases or other public health crises, including but not limited to developments related to COVID-19, (16) future divestitures which may result in charges and possible impairments of long-lived assets,
4
(17) changes in business strategy or development plans, (18) delays in receiving payments for services provided, (19) the outcome of pending and any future tax audits, disputes and litigation associated with our tax positions, (20) the impact of known and unknown government investigations, litigation and other claims that may be made against us, (21) the impact of actual and potential cybersecurity incidents or security breaches involving us or our vendors and other third parties, including the data security incident disclosed in July 2023, (22) our ongoing ability to demonstrate meaningful use of certified electronic health record technology and the impact of interoperability requirements, (23) the impact of natural disasters, such as hurricanes and floods, physical risks from climate change or similar events beyond our control, including Hurricanes Helene and Milton, (24) changes in U.S. federal, state, or foreign tax laws including interpretive guidance that may be issued by taxing authorities or other standard setting bodies, (25) the results of our efforts to use technology and resilience initiatives, including artificial intelligence and machine learning, to drive efficiencies, better outcomes and an enhanced patient experience, (26) the impact of recent decisions of the U.S. Supreme Court regarding the actions of federal agencies, and (27) other risk factors described in our annual report on Form 10-K for the year ended December 31, 2023 and our other filings with the Securities and Exchange Commission. Many of the factors that will determine our future results are beyond our ability to control or predict. In light of the significant uncertainties inherent in the forward-looking statements contained herein, readers should not place undue reliance on forward-looking statements, which reflect management’s views only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All references to “Company,” “HCA” and “HCA Healthcare” as used throughout this release refer to HCA Healthcare, Inc. and its affiliates.
5
HCA Healthcare, Inc.
Condensed Consolidated Comprehensive Income Statements
Third Quarter
Unaudited
(Dollars in millions, except per share amounts)
|
|
|
2024 |
|
|
|
2023 |
|
|
||||||||||
|
|
|
Amount |
|
|
Ratio |
|
|
|
Amount |
|
|
Ratio |
|
|
||||
Revenues |
|
|
$ |
17,487 |
|
|
|
100.0 |
|
% |
|
$ |
16,213 |
|
|
|
100.0 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Salaries and benefits |
|
|
|
7,861 |
|
|
|
45.0 |
|
|
|
|
7,556 |
|
|
|
46.6 |
|
|
Supplies |
|
|
|
2,657 |
|
|
|
15.2 |
|
|
|
|
2,417 |
|
|
|
14.9 |
|
|
Other operating expenses |
|
|
|
3,717 |
|
|
|
21.2 |
|
|
|
|
3,379 |
|
|
|
20.8 |
|
|
Equity in earnings of affiliates |
|
|
|
(15 |
) |
|
|
(0.1 |
) |
|
|
|
(19 |
) |
|
|
(0.1 |
) |
|
Depreciation and amortization |
|
|
|
842 |
|
|
|
4.9 |
|
|
|
|
769 |
|
|
|
4.7 |
|
|
Interest expense |
|
|
|
515 |
|
|
|
2.9 |
|
|
|
|
483 |
|
|
|
3.0 |
|
|
Losses (gains) on sales of facilities |
|
|
|
4 |
|
|
|
— |
|
|
|
|
(2 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
15,581 |
|
|
|
89.1 |
|
|
|
|
14,583 |
|
|
|
89.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Income before income taxes |
|
|
|
1,906 |
|
|
|
10.9 |
|
|
|
|
1,630 |
|
|
|
10.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Provision for income taxes |
|
|
|
424 |
|
|
|
2.4 |
|
|
|
|
355 |
|
|
|
2.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income |
|
|
|
1,482 |
|
|
|
8.5 |
|
|
|
|
1,275 |
|
|
|
7.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income attributable to noncontrolling interests |
|
|
|
212 |
|
|
|
1.2 |
|
|
|
|
196 |
|
|
|
1.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income attributable to HCA Healthcare, Inc. |
|
|
$ |
1,270 |
|
|
|
7.3 |
|
|
|
$ |
1,079 |
|
|
|
6.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diluted earnings per share |
|
|
$ |
4.88 |
|
|
|
|
|
|
$ |
3.91 |
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Shares used in computing diluted earnings per share (millions) |
|
|
|
259.917 |
|
|
|
|
|
|
|
275.424 |
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Comprehensive income attributable to HCA Healthcare, Inc. |
|
|
$ |
1,325 |
|
|
|
|
|
|
$ |
1,044 |
|
|
|
|
|
||
6
HCA Healthcare, Inc.
Condensed Consolidated Comprehensive Income Statements
For the Nine Months Ended September 30, 2024 and 2023
Unaudited
(Dollars in millions, except per share amounts)
|
|
2024 |
|
|
|
2023 |
|
|
||||||||||
|
|
Amount |
|
|
Ratio |
|
|
|
Amount |
|
|
Ratio |
|
|
||||
Revenues |
|
$ |
52,318 |
|
|
|
100.0 |
|
% |
|
$ |
47,665 |
|
|
|
100.0 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Salaries and benefits |
|
|
23,253 |
|
|
|
44.4 |
|
|
|
|
21,917 |
|
|
|
46.0 |
|
|
Supplies |
|
|
7,962 |
|
|
|
15.2 |
|
|
|
|
7,318 |
|
|
|
15.4 |
|
|
Other operating expenses |
|
|
10,946 |
|
|
|
21.0 |
|
|
|
|
9,316 |
|
|
|
19.5 |
|
|
Equity in (earnings) losses of affiliates |
|
|
(13 |
) |
|
|
— |
|
|
|
|
6 |
|
|
|
— |
|
|
Depreciation and amortization |
|
|
2,456 |
|
|
|
4.7 |
|
|
|
|
2,288 |
|
|
|
4.9 |
|
|
Interest expense |
|
|
1,533 |
|
|
|
2.9 |
|
|
|
|
1,447 |
|
|
|
3.0 |
|
|
Losses (gains) on sales of facilities |
|
|
(209 |
) |
|
|
(0.4 |
) |
|
|
|
12 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
45,928 |
|
|
|
87.8 |
|
|
|
|
42,304 |
|
|
|
88.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Income before income taxes |
|
|
6,390 |
|
|
|
12.2 |
|
|
|
|
5,361 |
|
|
|
11.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Provision for income taxes |
|
|
1,419 |
|
|
|
2.7 |
|
|
|
|
1,131 |
|
|
|
2.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income |
|
|
4,971 |
|
|
|
9.5 |
|
|
|
|
4,230 |
|
|
|
8.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income attributable to noncontrolling interests |
|
|
649 |
|
|
|
1.2 |
|
|
|
|
595 |
|
|
|
1.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income attributable to HCA Healthcare, Inc. |
|
$ |
4,322 |
|
|
|
8.3 |
|
|
|
$ |
3,635 |
|
|
|
7.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diluted earnings per share |
|
$ |
16.37 |
|
|
|
|
|
|
$ |
13.07 |
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Shares used in computing diluted earnings per share (millions) |
|
|
263.987 |
|
|
|
|
|
|
|
278.173 |
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Comprehensive income attributable to HCA Healthcare, Inc. |
|
$ |
4,369 |
|
|
|
|
|
|
$ |
3,634 |
|
|
|
|
|
||
7
HCA Healthcare, Inc.
Condensed Consolidated Balance Sheets
Unaudited
(Dollars in millions)
|
|
September 30, |
|
|
June 30, |
|
|
December 31, |
|
|||
|
|
2024 |
|
|
2024 |
|
|
2023 |
|
|||
ASSETS |
|
|
|
|
|
|
|
|
|
|||
Current assets: |
|
|
|
|
|
|
|
|
|
|||
Cash and cash equivalents |
|
$ |
2,888 |
|
|
$ |
831 |
|
|
$ |
935 |
|
Accounts receivable |
|
|
9,915 |
|
|
|
10,239 |
|
|
|
9,958 |
|
Inventories |
|
|
1,776 |
|
|
|
1,800 |
|
|
|
2,021 |
|
Other |
|
|
2,083 |
|
|
|
2,303 |
|
|
|
2,013 |
|
|
|
|
16,662 |
|
|
|
15,173 |
|
|
|
14,927 |
|
|
|
|
|
|
|
|
|
|
|
|||
Property and equipment, at cost |
|
|
61,750 |
|
|
|
60,625 |
|
|
|
58,548 |
|
Accumulated depreciation |
|
|
(32,703 |
) |
|
|
(31,986 |
) |
|
|
(30,833 |
) |
|
|
|
29,047 |
|
|
|
28,639 |
|
|
|
27,715 |
|
|
|
|
|
|
|
|
|
|
|
|||
Investments of insurance subsidiaries |
|
|
553 |
|
|
|
483 |
|
|
|
477 |
|
Investments in and advances to affiliates |
|
|
705 |
|
|
|
702 |
|
|
|
756 |
|
Goodwill and other intangible assets |
|
|
9,982 |
|
|
|
9,963 |
|
|
|
9,945 |
|
Right-of-use operating lease assets |
|
|
2,201 |
|
|
|
2,179 |
|
|
|
2,207 |
|
Other |
|
|
309 |
|
|
|
240 |
|
|
|
184 |
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
$ |
59,459 |
|
|
$ |
57,379 |
|
|
$ |
56,211 |
|
|
|
|
|
|
|
|
|
|
|
|||
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|||
Current liabilities: |
|
|
|
|
|
|
|
|
|
|||
Accounts payable |
|
$ |
4,235 |
|
|
$ |
4,029 |
|
|
$ |
4,233 |
|
Accrued salaries |
|
|
2,164 |
|
|
|
1,993 |
|
|
|
2,127 |
|
Other accrued expenses |
|
|
3,819 |
|
|
|
3,705 |
|
|
|
3,871 |
|
Long-term debt due within one year |
|
|
4,682 |
|
|
|
4,574 |
|
|
|
2,424 |
|
|
|
|
14,900 |
|
|
|
14,301 |
|
|
|
12,655 |
|
|
|
|
|
|
|
|
|
|
|
|||
Long-term debt, less debt issuance costs and discounts |
|
|
38,283 |
|
|
|
36,306 |
|
|
|
37,169 |
|
Professional liability risks |
|
|
1,584 |
|
|
|
1,573 |
|
|
|
1,557 |
|
Right-of-use operating lease obligations |
|
|
1,924 |
|
|
|
1,894 |
|
|
|
1,903 |
|
Income taxes and other liabilities |
|
|
1,982 |
|
|
|
1,966 |
|
|
|
1,867 |
|
|
|
|
|
|
|
|
|
|
|
|||
Stockholders' equity: |
|
|
|
|
|
|
|
|
|
|||
Stockholders' deficit attributable to HCA Healthcare, Inc. |
|
|
(2,182 |
) |
|
|
(1,600 |
) |
|
|
(1,774 |
) |
Noncontrolling interests |
|
|
2,968 |
|
|
|
2,939 |
|
|
|
2,834 |
|
|
|
|
786 |
|
|
|
1,339 |
|
|
|
1,060 |
|
|
|
$ |
59,459 |
|
|
$ |
57,379 |
|
|
$ |
56,211 |
|
8
HCA Healthcare, Inc.
Condensed Consolidated Statements of Cash Flows
For the Nine Months Ended September 30, 2024 and 2023
Unaudited
(Dollars in millions)
|
|
2024 |
|
|
2023 |
|
||
Cash flows from operating activities: |
|
|
|
|
|
|
||
Net income |
|
$ |
4,971 |
|
|
$ |
4,230 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
|
||
Increase (decrease) in cash from operating assets and liabilities: |
|
|
|
|
|
|
||
Accounts receivable |
|
|
55 |
|
|
|
(168 |
) |
Inventories and other assets |
|
|
184 |
|
|
|
(274 |
) |
Accounts payable and accrued expenses |
|
|
77 |
|
|
|
211 |
|
Depreciation and amortization |
|
|
2,456 |
|
|
|
2,288 |
|
Income taxes |
|
|
(67 |
) |
|
|
61 |
|
Losses (gains) on sales of facilities |
|
|
(209 |
) |
|
|
12 |
|
Amortization of debt issuance costs and discounts |
|
|
26 |
|
|
|
26 |
|
Share-based compensation |
|
|
275 |
|
|
|
205 |
|
Other |
|
|
187 |
|
|
|
166 |
|
|
|
|
|
|
|
|
||
Net cash provided by operating activities |
|
|
7,955 |
|
|
|
6,757 |
|
|
|
|
|
|
|
|
||
Cash flows from investing activities: |
|
|
|
|
|
|
||
Purchase of property and equipment |
|
|
(3,590 |
) |
|
|
(3,585 |
) |
Acquisition of hospitals and health care entities |
|
|
(224 |
) |
|
|
(281 |
) |
Sales of hospitals and health care entities |
|
|
312 |
|
|
|
183 |
|
Change in investments |
|
|
(85 |
) |
|
|
(30 |
) |
Other |
|
|
- |
|
|
|
(7 |
) |
|
|
|
|
|
|
|
||
Net cash used in investing activities |
|
|
(3,587 |
) |
|
|
(3,720 |
) |
|
|
|
|
|
|
|
||
Cash flows from financing activities: |
|
|
|
|
|
|
||
Issuances of long-term debt |
|
|
7,495 |
|
|
|
3,220 |
|
Net change in revolving credit facilities |
|
|
(1,880 |
) |
|
|
(1,420 |
) |
Repayment of long-term debt |
|
|
(2,346 |
) |
|
|
(691 |
) |
Distributions to noncontrolling interests |
|
|
(530 |
) |
|
|
(497 |
) |
Payment of debt issuance costs |
|
|
(67 |
) |
|
|
(31 |
) |
Payment of dividends |
|
|
(525 |
) |
|
|
(501 |
) |
Repurchase of common stock |
|
|
(4,342 |
) |
|
|
(2,901 |
) |
Other |
|
|
(224 |
) |
|
|
(234 |
) |
|
|
|
|
|
|
|
||
Net cash used in financing activities |
|
|
(2,419 |
) |
|
|
(3,055 |
) |
|
|
|
|
|
|
|
||
Effect of exchange rate changes on cash and cash equivalents |
|
|
4 |
|
|
|
1 |
|
|
|
|
|
|
|
|
||
Change in cash and cash equivalents |
|
|
1,953 |
|
|
|
(17 |
) |
Cash and cash equivalents at beginning of period |
|
|
935 |
|
|
|
908 |
|
|
|
|
|
|
|
|
||
Cash and cash equivalents at end of period |
|
$ |
2,888 |
|
|
$ |
891 |
|
|
|
|
|
|
|
|
||
Interest payments |
|
$ |
1,405 |
|
|
$ |
1,460 |
|
Income tax payments, net |
|
$ |
1,486 |
|
|
$ |
1,070 |
|
9
HCA Healthcare, Inc.
Operating Statistics
|
|
Third Quarter |
|
|
For the Nine Months |
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Number of Hospitals |
|
|
187 |
|
|
|
183 |
|
|
|
187 |
|
|
|
183 |
|
Number of Freestanding Outpatient |
|
|
125 |
|
|
|
126 |
|
|
|
125 |
|
|
|
126 |
|
Licensed Beds at End of Period |
|
|
49,890 |
|
|
|
49,279 |
|
|
|
49,890 |
|
|
|
49,279 |
|
Weighted Average Beds in Service |
|
|
42,640 |
|
|
|
41,927 |
|
|
|
42,609 |
|
|
|
41,805 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Reported: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Admissions |
|
|
562,100 |
|
|
|
537,943 |
|
|
|
1,677,425 |
|
|
|
1,586,174 |
|
% Change |
|
|
4.5 |
% |
|
|
|
|
|
5.8 |
% |
|
|
|
||
Equivalent Admissions |
|
|
1,006,106 |
|
|
|
958,504 |
|
|
|
2,982,462 |
|
|
|
2,813,873 |
|
% Change |
|
|
5.0 |
% |
|
|
|
|
|
6.0 |
% |
|
|
|
||
Revenue per Equivalent Admission |
|
$ |
17,381 |
|
|
$ |
16,915 |
|
|
$ |
17,542 |
|
|
$ |
16,939 |
|
% Change |
|
|
2.8 |
% |
|
|
|
|
|
3.6 |
% |
|
|
|
||
Inpatient Revenue per Admission |
|
$ |
18,728 |
|
|
$ |
18,262 |
|
|
$ |
18,822 |
|
|
$ |
17,930 |
|
% Change |
|
|
2.6 |
% |
|
|
|
|
|
5.0 |
% |
|
|
|
||
Patient Days |
|
|
2,690,718 |
|
|
|
2,612,439 |
|
|
|
8,134,864 |
|
|
|
7,808,905 |
|
% Change |
|
|
3.0 |
% |
|
|
|
|
|
4.2 |
% |
|
|
|
||
Equivalent Patient Days |
|
|
4,816,761 |
|
|
|
4,655,252 |
|
|
|
14,463,788 |
|
|
|
13,852,997 |
|
% Change |
|
|
3.5 |
% |
|
|
|
|
|
4.4 |
% |
|
|
|
||
Inpatient Surgery Cases |
|
|
135,803 |
|
|
|
133,521 |
|
|
|
405,061 |
|
|
|
396,428 |
|
% Change |
|
|
1.7 |
% |
|
|
|
|
|
2.2 |
% |
|
|
|
||
Outpatient Surgery Cases |
|
|
249,364 |
|
|
|
254,557 |
|
|
|
761,166 |
|
|
|
774,129 |
|
% Change |
|
|
-2.0 |
% |
|
|
|
|
|
-1.7 |
% |
|
|
|
||
Emergency Room Visits |
|
|
2,446,962 |
|
|
|
2,343,514 |
|
|
|
7,290,836 |
|
|
|
6,890,388 |
|
% Change |
|
|
4.4 |
% |
|
|
|
|
|
5.8 |
% |
|
|
|
||
Outpatient Revenues as a |
|
|
38.2 |
% |
|
|
37.4 |
% |
|
|
37.8 |
% |
|
|
38.3 |
% |
Average Length of Stay (days) |
|
|
4.787 |
|
|
|
4.856 |
|
|
|
4.850 |
|
|
|
4.923 |
|
Occupancy** |
|
|
71.9 |
% |
|
|
71.4 |
% |
|
|
73.0 |
% |
|
|
72.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Same Facility: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Admissions |
|
|
558,105 |
|
|
|
534,323 |
|
|
|
1,663,509 |
|
|
|
1,577,063 |
|
% Change |
|
|
4.5 |
% |
|
|
|
|
|
5.5 |
% |
|
|
|
||
Equivalent Admissions |
|
|
985,613 |
|
|
|
943,614 |
|
|
|
2,919,458 |
|
|
|
2,781,939 |
|
% Change |
|
|
4.5 |
% |
|
|
|
|
|
4.9 |
% |
|
|
|
||
Revenue per Equivalent Admission |
|
$ |
17,311 |
|
|
$ |
16,887 |
|
|
$ |
17,468 |
|
|
$ |
16,882 |
|
% Change |
|
|
2.5 |
% |
|
|
|
|
|
3.5 |
% |
|
|
|
||
Inpatient Revenue per Admission |
|
$ |
18,793 |
|
|
$ |
18,214 |
|
|
$ |
18,873 |
|
|
$ |
17,917 |
|
% Change |
|
|
3.2 |
% |
|
|
|
|
|
5.3 |
% |
|
|
|
||
Inpatient Surgery Cases |
|
|
134,913 |
|
|
|
132,793 |
|
|
|
402,150 |
|
|
|
394,377 |
|
% Change |
|
|
1.6 |
% |
|
|
|
|
|
2.0 |
% |
|
|
|
||
Outpatient Surgery Cases |
|
|
244,733 |
|
|
|
249,753 |
|
|
|
746,717 |
|
|
|
762,328 |
|
% Change |
|
|
-2.0 |
% |
|
|
|
|
|
-2.0 |
% |
|
|
|
||
Emergency Room Visits |
|
|
2,433,887 |
|
|
|
2,325,946 |
|
|
|
7,232,588 |
|
|
|
6,839,030 |
|
% Change |
|
|
4.6 |
% |
|
|
|
|
|
5.8 |
% |
|
|
|
||
* Excludes freestanding endoscopy centers (23 centers at September 30, 2024 and 22 centers at September 30, 2023).
** Reflects the rate of occupancy (patient days and observations) based on weighted average beds in service.
10
HCA Healthcare, Inc.
Supplemental Non-GAAP Disclosures
Operating Results Summary
(Dollars in millions, except per share amounts)
|
|
Third Quarter |
|
|
For the Nine Months |
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Revenues |
|
$ |
17,487 |
|
|
$ |
16,213 |
|
|
$ |
52,318 |
|
|
$ |
47,665 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income attributable to HCA Healthcare, Inc. |
|
$ |
1,270 |
|
|
$ |
1,079 |
|
|
$ |
4,322 |
|
|
$ |
3,635 |
|
Losses (gains) on sales of facilities (net of tax) |
|
|
3 |
|
|
|
(1 |
) |
|
|
(160 |
) |
|
|
21 |
|
Net income attributable to HCA Healthcare, Inc., |
|
|
1,273 |
|
|
|
1,078 |
|
|
|
4,162 |
|
|
|
3,656 |
|
Depreciation and amortization |
|
|
842 |
|
|
|
769 |
|
|
|
2,456 |
|
|
|
2,288 |
|
Interest expense |
|
|
515 |
|
|
|
483 |
|
|
|
1,533 |
|
|
|
1,447 |
|
Provision for income taxes |
|
|
425 |
|
|
|
354 |
|
|
|
1,370 |
|
|
|
1,122 |
|
Net income attributable to noncontrolling interests |
|
|
212 |
|
|
|
196 |
|
|
|
649 |
|
|
|
595 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted EBITDA (a) |
|
|
3,267 |
|
|
$ |
2,880 |
|
|
$ |
10,170 |
|
|
$ |
9,108 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted EBITDA margin (a) |
|
|
18.7 |
% |
|
|
17.8 |
% |
|
|
19.4 |
% |
|
|
19.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diluted earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income attributable to HCA Healthcare, Inc. |
|
$ |
4.88 |
|
|
$ |
3.91 |
|
|
$ |
16.37 |
|
|
$ |
13.07 |
|
Losses (gains) on sales of facilities |
|
|
0.02 |
|
|
|
- |
|
|
|
(0.61 |
) |
|
|
0.07 |
|
Net income attributable to HCA Healthcare, Inc., |
|
$ |
4.90 |
|
|
$ |
3.91 |
|
|
$ |
15.76 |
|
|
$ |
13.14 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Shares used in computing diluted earnings per share |
|
|
259.917 |
|
|
|
275.424 |
|
|
|
263.987 |
|
|
|
278.173 |
|
Management and investors review both the overall performance (including net income attributable to HCA Healthcare, Inc., as adjusted, diluted earnings per share, as adjusted, and GAAP net income attributable to HCA Healthcare, Inc.) and operating performance (Adjusted EBITDA) of our health care facilities. Adjusted EBITDA and the Adjusted EBITDA margin (Adjusted EBITDA divided by revenues) are utilized by management and investors to compare our current operating results with the corresponding periods during the previous year and to compare our operating results with other companies in the health care industry. It is reasonable to expect that adjustments, including losses (gains) on sales of facilities and losses on retirement of debt will occur in future periods, but the amounts recognized can vary significantly from period to period, do not directly relate to the ongoing operations of our health care facilities and complicate period comparisons of our results of operations and operations comparisons with other health care companies.
Net income attributable to HCA Healthcare, Inc., as adjusted, diluted earnings per share, as adjusted, and Adjusted EBITDA are not measures of financial performance under GAAP, and should not be considered as alternatives to net income attributable to HCA Healthcare, Inc. as a measure of operating performance or cash flows from operating, investing and financing activities as a measure of liquidity. Because net income attributable to HCA Healthcare, Inc., as adjusted, diluted earnings per share, as adjusted, and Adjusted EBITDA are not measurements determined in accordance with GAAP and are susceptible to varying calculations, net income attributable to HCA Healthcare, Inc., as adjusted, diluted earnings per share, as adjusted, and Adjusted EBITDA, as presented, may not be comparable to other similarly titled measures presented by other companies.
11
HCA Healthcare, Inc.
Supplemental Non-GAAP Disclosures
2024 Operating Results Forecast
(Dollars in millions, except per share amounts)
|
|
For the Year Ending |
|
|||||
|
|
December 31, 2024 |
|
|||||
|
|
Low |
|
|
High |
|
||
Revenues |
|
$ |
69,750 |
|
|
$ |
71,750 |
|
|
|
|
|
|
|
|
||
Net income attributable to HCA Healthcare, Inc. (a) |
|
$ |
5,675 |
|
|
$ |
5,975 |
|
Depreciation and amortization |
|
|
3,245 |
|
|
|
3,295 |
|
Interest expense |
|
|
2,065 |
|
|
|
2,095 |
|
Provision for income taxes |
|
|
1,860 |
|
|
|
1,950 |
|
Net income attributable to noncontrolling interests |
|
|
905 |
|
|
|
935 |
|
|
|
|
|
|
|
|
||
Adjusted EBITDA (a) (b) |
|
$ |
13,750 |
|
|
$ |
14,250 |
|
|
|
|
|
|
|
|
||
Diluted earnings per share: |
|
|
|
|
|
|
||
Net income attributable to HCA Healthcare, Inc. |
|
$ |
21.60 |
|
|
$ |
22.80 |
|
|
|
|
|
|
|
|
||
Shares used in computing diluted earnings per share (millions) |
|
|
262.000 |
|
|
|
262.000 |
|
The Company's forecasted guidance is based on current plans and expectations and is subject to a number of known and unknown uncertainties and risks.
Management and investors review both the overall performance (including net income attributable to HCA Healthcare, Inc.) and operating performance (Adjusted EBITDA) of our healthcare facilities. Adjusted EBITDA is utilized by management and investors to compare our current operating results with the corresponding periods during the previous year and to compare our operating results with other companies in the health care industry.
Adjusted EBITDA is not a measure of financial performance under GAAP and should not be considered as an alternative to net income attributable to HCA Healthcare, Inc. as a measure of operating performance or cash flows from operating, investing and financing activities as a measure of liquidity. Because Adjusted EBITDA is not a measurement determined in accordance with GAAP and is susceptible to varying calculations, Adjusted EBITDA, as presented, may not be comparable to other similarly titled measures presented by other companies.
12