HCA Healthcare, Inc. reported significant financial growth in its Q3 2024 results, with revenues reaching $17,487 million, a 7.9% increase from $16,213 million in Q3 2023. For the nine months ending September 30, 2024, revenues totaled $52,318 million, compared to $47,665 million in the same period of 2023, marking a 9.8% increase. The growth in revenue was driven by a 5.0% increase in equivalent admissions and a 2.8% rise in revenue per equivalent admission.
Net income for Q3 2024 was $1,482 million, up 17.7% from $1,275 million in Q3 2023, while net income attributable to HCA Healthcare, Inc. increased to $1,270 million from $1,079 million. For the nine-month period, net income rose to $4,971 million from $4,230 million, with net income attributable to HCA Healthcare, Inc. increasing to $4,322 million from $3,635 million. Basic earnings per share for Q3 2024 were $4.94, compared to $3.98 in Q3 2023, and diluted earnings per share were $4.88, up from $3.91.
The company’s income before income taxes also saw a notable increase, reaching $1,906 million in Q3 2024, compared to $1,630 million in Q3 2023. For the nine months ended September 30, 2024, income before income taxes was $6,390 million, up from $5,361 million in the prior year.
HCA Healthcare's operational metrics showed a mixed performance, with consolidated admissions and same facility admissions both increasing by 4.5%. However, outpatient surgeries declined by 2.0%. Emergency department visits increased by 4.4% on a consolidated basis.
Strategically, HCA Healthcare made several acquisitions, including three hospital facilities in Texas for $112 million and nonhospital healthcare entities for an additional $112 million during the nine months ended September 30, 2024. In contrast, the previous year saw the acquisition of one hospital facility for $83 million and nonhospital entities for $198 million. The company also recognized gains of $209 million from the sale of a hospital facility in California, compared to losses of $12 million from sales in the prior year.
HCA Healthcare's total debt increased to $42.965 billion as of September 30, 2024, from $39.593 billion at the end of 2023, with interest expenses rising to $1.533 billion for the first nine months of 2024, compared to $1.447 billion in the same period of 2023. The company continues to manage its debt portfolio primarily with fixed rates to mitigate interest rate fluctuations.
As of September 30, 2024, HCA Healthcare operated 187 hospitals and 125 freestanding surgery centers across 20 states and England. The company’s corporate office costs increased to $111 million in Q3 2024 from $89 million in Q3 2023.
About HCA Healthcare, Inc.
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