April 15 HCA Holdings Inc, the largest
U.S. for-profit hospital operator, on Monday announced a
preliminary first-quarter revenue estimate that was below Wall
Street expectations and its shares fell nearly 5 percent.
The company, citing a slowdown in the rate of growth in
admissions and weakness in outpatient volumes in the second half
of the quarter, said it expects to report revenue of about $8.4
billion. Analysts on average were looking for revenue of $8.7
billion, according to Thomson Reuters I/B/E/S.
However, HCA reaffirmed its full-year forecasts and still
expects to earn $3.00 to $3.30 per share, excluding items, with
revenue of $33.5 billion to $34.5 billion.
Same facility admissions for the quarter barely increased
0.1 percent, HCA said.
Volume growth trends in the first quarter declined across
all payor classes with managed care/commercial same facility
equivalent admissions down about 4.6 percent compared to an
increase of 2.8 percent in the first quarter of 2012, the
HCA said first-quarter results would include five cents per
share in charges for the sales of facilities and retirement of
debt. It said favorable Medicare adjustments would increase
earnings by 22 cents per share.
Analysts are estimating first-quarter earnings, excluding
special items, of 90 cents per share. The company said it
expects to issue its first-quarter results on or about May 2.
HCA shares fell to $35 in extended trading from their New
York Stock Exchange close of $36.72. They had fallen 4.2 percent
during regular trading.