HCA to report higher second-quarter profit as admissions rose
July 16 (Reuters) - HCA Holdings Inc, the largest U.S. for-profit hospital operator, on Tuesday said facility admissions rose more than 1 percent during the second quarter and it expects to report a rise in earnings and revenue, pushing shares up 5 percent.
Shares were trading at $39 in pre-market activity after having closed at $37.20 on Monday.
HCA and other hospitals have been struggling with low admissions as consumers have been using medical services less. In the first quarter, the company previously said, admissions barely increased, 0.1 percent. Same facility admissions rose 1.3 percent in the second quarter.
It said that it expects to report second-quarter earnings of about 91 cents per share, up from 85 cents per share a year earlier. Analysts were expecting second-quarter earnings of 78 cents per share, although it was not immediately clear whether the figures were comparable.
HCA estimated revenue at $8.45 billion, up from $8.11 billion a year earlier.
HCA said it expects to report net income before tax of $806 million, up from $699 million a year earlier, and adjusted earnings before interest, taxes, depreciation and amortization of about $1.69 billion versus $1.57 billion a year before. (Reporting by Caroline Humer; Editing by Gerald E. McCormick)
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