HCA Adjusted EPS of $7.22 as Revenue Tops Third-Quarter Estimates
Key Facts
HCA Healthcare reported adjusted earnings per share of $7.22 in the third quarter of 2026, beating analysts’ estimate of $6.65 by $0.57, according to Investing.com. Revenue was $19.85 billion, above the estimate of $19.33 billion. Revenue rose 3.6% from the same period a year earlier, when it was $19.16 billion. The actual results were released before the draft was published, which had presented pre-announcement figures as expected results. After the results were released on October 27, the stock rose 4.4%, according to Investing.com.
Earnings diverged between adjusted and accounting measures: diluted EPS rose 4.5% year over year to $7.27, while net income attributable to the company fell 3.9% to $1.579 billion, according to the text of the company’s statement published by StockTitan. Meanwhile, inpatient surgeries declined 1.4% and outpatient surgeries fell 3.7% compared with the third quarter of 2025. These figures reflect continued growth in some measures of service use alongside a decline in surgical activity. In the second quarter, revenue had risen 8.7% to $20.230 billion, and net income attributable to the company increased 2.8% to $1.699 billion, according to investor relations data.
The shift in payer mix toward uninsured patients remained a drag on results; the company said the shift reduced income before taxes by about $400 million in the third quarter. Coverage linked the shift to an increase in patients who lost insurance coverage, a factor affecting the mix through which the company generates revenue. CEO Sam Hazen said the company believes it is positioned to finish the year positively, despite challenges stemming from federal policy changes. The statement puts the company’s operating outlook alongside the financial pressure it disclosed for the same quarter. The company reported a similar estimated negative impact of about $400 million in the second quarter, according to its statement for that quarter.
Following its third-quarter results, HCA said it expects annual operating results to fall in the upper half of its previously issued 2026 guidance ranges. July guidance put revenue at between $77.000 billion and $79.500 billion, and diluted EPS at between $28.70 and $30.50, according to the investor relations page. Cash flow from operations was also $4.461 billion in the third quarter, compared with $4.416 billion in the same period of 2025. The company repurchased 7.230 million shares at a cost of $2.970 billion during the quarter and declared a quarterly cash dividend of $0.78 per share. The dividend is scheduled to be paid on December 29, 2026, to shareholders of record on December 15, according to the statement text published by StockTitan.
The third-quarter earnings call was held on October 27, 2026, at 9:00 a.m. Central time, corresponding to 10:00 a.m. Eastern time, according to an investor relations announcement. HCA shares closed at $465.26 on October 26, according to EL7 data. That close preceded the share increase reported by Investing.com after the results were announced the following day. The new results put the company’s annual guidance in the upper half of its previous ranges, while the payer mix continues to weigh on income. The company also set December 15 as the record date for shareholders eligible for the cash dividend scheduled to be paid on December 29.