HCA Healthcare (HCA) Q1 2026 Financial Results Summary

Nashville, Tenn., April 24, 2026 – HCA Healthcare, Inc. (NYSE: HCA) today announced its financial and operating results for the first quarter ended March 31, 2026. Below is a summary of the key metrics and events from the report:

Key Financial Metrics (Q1 2026 vs. Q1 2025)

• Revenues: Increased by 4.3% to $19.109 billion
• Net Income: Increased by 0.6% to $1.620 billion
• Diluted Earnings Per Share (EPS): Increased by 10.9% to $7.15
• Adjusted EBITDA: Increased by 1.9% to $3.802 billion
• Cash Flows from Operating Activities: Increased by 22.0% to $2.014 billion

Admissions and Patient Metrics

• Same Facility Admissions: Increased by 0.9%
• Same Facility Equivalent Admissions: Increased by 1.3%
• Same Facility Emergency Room Visits: Increased by 0.3%
• Same Facility Inpatient Surgeries: Decreased by 0.3%
• Same Facility Outpatient Surgeries: Decreased by 1.7%
• Same Facility Revenue per Equivalent Admission: Increased by 3.1%

Notable Observations:

• The typical seasonal volume increase usually expected at the start of the year was not experienced, primarily due to a 42% decline in respiratory-related admissions.
• A 32% decline in respiratory-related emergency room visits compared to the same period in 2025.
• Traffic disruptions from a winter storm in January also impacted volumes.

Financial Position

• Cash and Cash Equivalents: $940 million
• Total Debt: $48.023 billion
• Total Assets: $61.450 billion
• Capital Expenditures: Totaled $1.119 billion

Share Repurchase and Dividend Declaration

• Shares Repurchased: 3.157 million shares at a cost of $1.571 billion; $9.179 billion remaining under stock repurchase authorization.
• Quarterly Cash Dividend: The Board of Directors declared a dividend of $0.78 per share, payable on June 30, 2026 to stockholders of record as of June 16, 2026.

Future Guidance

HCA Healthcare reaffirmed its 2026 estimated guidance ranges:

• Revenues: Expected between $76.5 billion and $80.0 billion
• Net Income: Expected between $6.495 billion and $7.035 billion

The guidance is contingent on various assumptions regarding volume growth, an anticipated stable operating environment, and external factors impacting health care public policy.

Operating Statistics

• Number of Hospitals: 189
• Number of Licensed Beds: 50,459
• Weighted Average Beds in Service: 42,848
• Reported Admissions: 580,258, a 0.7% increase
• Equivalent Admissions: 1,023,575, a 1.1% increase
• Revenue per Equivalent Admission: $18,669, which is an increase of 3.1%
• Patient Days: 2,774,607, a 2.2% decrease
• Occupancy Rate: 75.5%

Conclusion

HCA Healthcare's first-quarter results reflect solid growth in revenues and earnings, despite facing challenges in patient volumes attributable to seasonal factors and weather impacts. The ongoing share repurchase program and a declared dividend indicate a commitment to returning value to shareholders. The guidance for the remainder of 2026 appears stable, with expectations for continued growth underpinned by ongoing business strategies and operational efficiency.

Here are the extracted tables from the press release:

HCA Healthcare, Inc. Condensed Consolidated Statements of Income First Quarter Unaudited (Dollars in millions, except per share amounts)

Note: All amounts are in millions.

	2026	Ratio	2025	Ratio
Revenues	$19,109	100.0 %	$18,321	100.0 %
Salaries and benefits	8,283	43.3	7,997	43.6
Supplies	2,853	14.9	2,764	15.1
Other operating expenses	4,180	21.9	3,845	21.0
Equity in earnings of affiliates	(9)	—	(18)	(0.1)
Depreciation and amortization	930	4.8	860	4.7
Interest expense	584	3.1	547	3.0
Losses (gains) on sales of facilities	1	—	(1)	—
	$16,822	88.0	$15,994	87.3
Income before income taxes	2,287	12.0	2,327	12.7
Provision for income taxes	430	2.3	502	2.7
Net income	1,857	9.7	1,825	10.0
Net income attributable to	237	1.2	215	1.2
noncontrolling interests
Net income attributable to HCA	$1,620	8.5	$1,610	8.8
Healthcare, Inc.
Diluted earnings per share	$7.15		$6.45
Shares used in computing diluted	226.652		249.440
earnings per share (millions)
Comprehensive income attributable to	$1,598		$1,640
HCA Healthcare, Inc.

HCA Healthcare, Inc. Condensed Consolidated Balance Sheets Unaudited (Dollars in millions)

Note: All amounts are in millions.

	March 31, 2026	December 31, 2025
Current assets:
Cash and cash equivalents	$940	$1,040
Accounts receivable	11,324	10,867
Inventories	1,681	1,652
Other	2,107	2,224
	16,052	15,783
Property and equipment, at cost	67,365	66,275
Accumulated depreciation	(35,893)	(35,134)
	31,472	31,141
Investments of insurance subsidiaries	387	485
Investments in and advances to	615	633
affiliates
Goodwill and other intangible assets	10,504	10,293
Right-of-use operating lease assets	2,094	2,130
Other	326	255
	$61,450	$60,720
LIABILITIES AND STOCKHOLDERS'
(DEFICIT) EQUITY
Current liabilities:
Accounts payable	$4,806	$4,659
Accrued salaries	2,022	2,525
Other accrued expenses	3,898	4,277
Short-term borrowings and long-term debt due within	8,532	4,889
one year
	19,258	16,350
Long-term debt, less debt issuance costs and discounts	39,491	41,603
Professional liability risks	1,509	1,466
Right-of-use operating lease obligations	1,822	1,853
Income taxes and other liabilities	2,348	2,219
Stockholders' (deficit) equity:
Stockholders' deficit attributable to	(6,303)	(6,027)
HCA Healthcare, Inc.
Noncontrolling interests	3,325	3,256
	(2,978)	(2,771)
	$61,450	$60,720

Disclaimer

The content on MarketsFN.com is provided for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or trading guidance. All investments carry risk and past performance does not guarantee future results. You are solely responsible for your investment decisions and should conduct independent research and consult a qualified financial advisor before acting. MarketsFN.com and its authors are not liable for any losses or damages arising from the use of this information.