Nashville, Tenn.-based HCA Healthcare posted an operating income of $1.9 billion (10.9% operating margin) in the third quarter of 2024, up from an operating income of $1.6 billion (10.1% margin) over the same period last year, according to its Oct. 25 financial report.
Here are six things to know:
1. The for-profit system reported revenue of $17.5 billion for the quarter ended Sept. 30, up from $16.2 billion over the same period in 2023.
2. HCA reported total operating expenses of $15.6 billion in the third quarter, up from $14.6 billion posted over the same period last year. Salary and benefit expenses were $7.9 billion in the third quarter of 2024, up from $7.6 billion last year. Supply costs were $2.7 billion, up from $2.4 billion over the same period last year.
3. The system posted a net income of $4.3 billion in the third quarter of 2024, up from $3.6 billion posted over the same period last year.
4. Same-facility admissions increased 4.5% year over year and same-facility equivalent admissions also increased 4.5% year over year in the third quarter. Same-facility emergency room visits increased 4.6%, inpatient surgeries increased 1.6% and same-facility outpatient surgeries declined 2%. Same-facility revenue per equivalent admission increased 2.5%.
5. HCA incurred additional expenses and loss of revenues estimated at $50 million associated with Hurricane Helene’s impact on certain facilities in Florida, Georgia and North Carolina. The system anticipates ongoing additional expenses and loss of revenue due to Helene's impact on its North Carolina facilities, as well as from Hurricane Milton, which affected certain facilities in Florida during October. The financial effect of the hurricanes is estimated at $200 million to $300 million. Those estimates do not include any insurance recoveries HCA might receive.
6. The system reaffirmed its 2024 estimated guidance ranges, but said that, given the effects of the two hurricanes on the rest of the year, estimates are likely to fall within the lower half of the estimated range. HCA raised its 2024 guidance in July, estimating a net income of $5.7 billion to $6 billion for the year ending Dec. 31. That was up from its previous estimate of $5.2 billion to $5.6 billion.