HCA Finishes 2019 With $51.3B in Revenues

The Nashville-based for-profit hospital operator's full-year net income did slide by $282 million.

HCA Healthcare ended 2019 on a strong note as quarterly revenues topped $13.5 billion and full-year revenues hit $51.3 billion, an increase of nearly $5 billion year-over-year.

The Nashville-based for-profit hospital operator's net income in Q4 2019 was over $1 billion, a slight increase compared to Q4 2018.

Additionally, the company's adjusted EBITDA was $2.7 billion, eclipsing its adjusted EBITDA of $2.5 billion from this time last year.

HCA's full-year net income did slide from almost $3.7 billion to $3.5 billion, down $282 million.

Related: HCA Beats Q3 Revenue Estimates, Financial Guidance Raised

In light of the year-end earnings report, HCA's stock was trading up more than 3.3% Tuesday morning. 

Overall, HCA's admissions grew by 7.3% in Q4 2019 and 5.2% for the full year. 

During Q4 2019, HCA's same facility admissions and same facility equivalent admissions increased by 4.7% and 5%, respectively.

The company's same facility emergency room visits led the way, rising by 6.7% compared to this time last year.

Unlike past quarterly statistics, HCA's inpatient and outpatient surgery cases grew but not at a faster rate than its same facility admissions. Inpatient surgery cases rose 5% in Q4 2019 and outpatient surgery cases rose by 4%.

Earlier this month, HCA announced that it completed its acquisition of Galen College of Nursing.

The Nashville-based for-profit provider first announced that it took a majority stake in one of the largest private nursing schools in the nation in March 2018.

Related: HCA Completes Galen College of Nursing Purchase

By the end of 2019, HCA was operating 184 hospitals, up from 179 at the end of 2018.

ADDITIONAL HCA Q4 EARNINGS REPORT HIGHLIGHTS:

• Salaries, benefits, supplies, and other operating expenses accounted for nearly 80% of revenues.
• The company repurchased $272 million worth of stock in Q4 2019 and has just over $1.24 billion remaining under its existing repurchase agreement.  
• The company increased its quarterly cash dividend to $0.43 per share, which will be paid on March 31.

For complete financial information, review HCA Healthcare's filing with the Securities and Exchange Commission.