Six key results:
1. Revenues reached about $12.5 billion in the first quarter ended March 31, compared to $11.4 billion in the first quarter of 2018. HCA’s $86 million increase in revenues during the first quarter of 2019 was attributed to ending an arbitration over out-of-network claims.
2. HCA’s net income for the quarter was about $1 billion, or $2.97 per diluted share. That’s a decrease from $1.14 billion, or $3.18 per diluted share, in the first quarter of 2018.
3. Same-facility inpatient surgeries dipped 0.3 percent year over year. Same-facility outpatient surgeries continued climbing, with a 1.3 percent year-over-year increase.
4. The company’s adjusted EBITDA was $2.54 billion, compared to about $2.12 billion in the first quarter of 2018.
5. Cash flows from operations were $974 million, down from nearly $1.3 billion in the first quarter of 2018.
6. HCA revised its 2019 guidance. It now expects between $50.5 billion and $51.5 billion in revenues; adjusted EBITDA between $9.45 billion and $9.85 billion; and about $3.7 billion in capital expenditures for the year.
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