Nashville, Tenn.-based Hospital Corporation of America anticipates its income before income taxes for the third quarter will reach approximately $929 million, up from $701 million in the third quarter of 2013, according to preliminary financial and operating results.
HCA expects third-quarter revenues of $9.22 billion, up from $8.46 billion in the third quarter of 2013. Adjusted EBITDA for the quarter is projected to be approximately $1.83 billion, compared with approximately $1.6 billion in 2013. These financial results are still subject to finalization of HCA's quarterly financial and accounting procedures. The company expects to report its complete third-quarter financial results on or around Oct. 28.
HCA has also increased its 2014 guidance. Revenues are now expected to reach $36.5 billion to $37 billion, up from the $36 billion to $36.5 billion projected in the company's July 2014 guidance. Adjusted EBITDA is now projected to be $7.25 billion to 7.35 billion, up from $7 billion to $7.15 billion.
The revised guidance takes into account various factors, such as an expected 4 percent benefit to adjusted EBITDA from the Patient Protection and Affordable Care Act and estimated EHR incentive income assumptions of $110 million to $130 million.