April 24 Reuters) – Hospital operator HCA Healthcare beat Wall Street estimates for first-quarter profit on Friday, helped by strong demand for its medical care services.
Hospital operators have been benefiting from elevated demand for non-urgent procedures, particularly from older Americans, since the second half of 2023.
However, the company said it did not experience a typical volume increase associated with the flu season, as respiratory-related admissions were down 42%, and respiratory-related emergency room visits were down 32% year-over-year, HCA said.
Shares of HCA fell 7.6% in premarket trading.
Revenue per equivalent admission at same facilities – a measure combining inpatient and outpatient volumes – rose 3.1%.
The company earned adjusted profit of $7.15 per share, compared with analysts’ estimates of $7.14 per share, according to data compiled by LSEG.
(Reporting by Siddhi Mahatole and Christy Santhosh in Bengaluru; Editing by Devika Syamnath)
