- Hospital giant HCA Holdings reported 2016 Q2 revenues of $10.32 billion, up 4.3% from $9.90 billion in the same period a year ago. Revenues for the six months ended June 30 totaled $20.58 billion.
- Quarterly earnings were $658 million, or $1.65 per share, up 29.8% from $507 million this time last year.
- Equivalent admissions at individual facilities grew 1.6%, while facility revenue per equivalent admission rose 2.1%.
The growth in admissions continues a boost seen in the first quarter of 2016, when same facility equivalent admissions grew 3.1% and revenue per equivalent admission went up 2.2%.
During the quarter, the number of emergency room visits at HCA hospitals increased 4.3% to 2.1 million, compared with a year ago. Inpatient and outpatient surgery cases 1.7% and 2.8%, respectively, while the average hospital stay held steady at 4.9 days.
Salaries and benefits, supplies and other operating expenses amounted to $8.3 billion, or about 80% of revenues, HCA said.
The Nashville-based company said it realized a $44 million tax benefit in the second quarter related to adoption earlier this year of a new accounting standard that
Despite solid growth in the first half of 2016, HCA said it was below expectations. The company adjusted its guidance, predicting full-year revenues of $41 billion to $42 billion and EBITDA of around $8.1 billion to $8.3 billion. Capital expenditures are expected to total about $2.7 billion.