HCA Healthcare stock falls after profit tops expectations but revenue falls shy, as admissions declined

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Shares of HCA Healthcare Inc. HCA, -5.73% fell 1.7% in premarket trading Friday, after the hospital operator reported third-quarter profit that topped expectations but revenue that fell shy, as admissions declined. Net income fell $1.34 billion, or $3.91 a share, from $2.27 billion, or $7.00 a share, in the year-ago period. The latest quarter’s results include losses on sales of facilities reduced earnings per share by 2 cents. The FactSet EPS consensus was $3.88. Revenue declined 2.0% to $14.97 billion, just below the FactSet consensus of $15.00 billion. Same-facility admissions fell 1.5% and same-facility emergency room visits were down 1.3%, while same-facility revenue per equivalent admission dropped 3.5%. Same-facility inpatient surgeries increased 5.6% and same-facility outpatient surgeries grew 2.0%. The stock has run up 15.1% over the past three months through Thursday, while the SPDR Health Care Select Sector ETF XLV, +2.25% has lost 5.1% and the S&P 500 SPX, +2.37% has dropped 8.3%.

This article was originally published by Marketwatch.com. Read the original article here.

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