Nashville, Tenn.-based Hospital Corporation of America profits surpassed expectations in the second quarter, reaching $507 million, or $1.18 per share, up 5 percent from the same period a year earlier.
HCA, the nation's largest for-profit hospital operator, also topped expected revenue, reporting a 7.2 percent increase year-over-year to $9.90 billion. Analysts forecasted $9.82 billion, according to Reuters.
Excluding debt-retirement losses, losses on sales of facilities and legal claim costs, the company reported steady $1.37 per-share profits over Q2 last year. Reuters reported analysts on average estimated a profit of $1.34 per share.
These results are the product of increased same-facility admissions and same-facility emergency room visits, which saw a 4.1 percent and 7.4 percent boost, respectively, this quarter.
The for-profit operator also reported a $125 million loss on retirement of debt, down from a $226 million loss in 2014, and $5 million in losses from sales on facilities. In Q2 2014, HCA reported a $11 million gain from sales on facilities.
For the six months ended June 30, HCA reported an 8.4 percent increase in revenues to $19.57 billion and a 32 percent increase in net income to nearly $1.1 billion.
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