Nashville, Tenn.-based HCA Healthcare reported a 7.4 percent increase in revenue to $11.5 billion, as well as success among its outpatient surgery facilities.
Here are six things to know:
1. The company reported second quarter same-facility outpatient surgeries increased 2.6 percent year over year, while same-facility inpatient surgeries were up 1.5 percent. Freestanding ASC surgeries were up 1.5 percent in the second quarter, according to a Seeking Alpha transcript of the earnings call.
2. Salaries and benefits, supplies and other operating expenses for the second quarter were 80.8 percent of revenue, totaling $9.3 billion. On a same-facility basis, the salary and benefits, supplies and other operating expenses hit $8.5 billion, 77.8 percent of revenue.
3. HCA realized a tax benefit of $121 million on net income attributable to HCA Healthcare, related to the Tax Cuts and Jobs Act.
4. Adjusted EBITDA totaled $2.2 billion for the quarter, up from $2 billion over the same period last year. Net income attributable to HCA was $820 million and cash flow from operations was $1.5 billion.
5. For the six months ended , HCA reported $22.9 billion in revenue and $1.9 billion in net income. The company reported cash and cash equivalents of $868 million for the first half of the year and total debt at $33.2 billion.
6. As of June 30, HCA operated around 1,800 sites of care, including ASCs and freestanding emergency rooms as well as urgent care centers and physician clinics. The company operates 178 hospitals.