HCA Healthcare Inc. (NYSE:HCA), one of the largest hospital operators in the U.S., released first-quarter 2026 revenues of $19.11 billion, representing a 4.3% year-over-year increase, almost in line with the consensus estimate of $19.10 billion.
The hospital chain operator reported adjusted earnings of $7.15, up from $6.45 a year ago, in line with the consensus.
Same-Facility Metrics Show Mixed Volume Trends
Same-facility admissions increased by 0.9%, and same-facility equivalent admissions increased by 1.3%.
Same facility emergency room visits increased 0.3%, same facility inpatient surgeries declined 0.3%, and same facility outpatient surgeries decreased 1.7% in the quarter.
Same facility revenue per equivalent admission increased 3.1%.
Adjusted EBITDA totaled $3.80 billion, compared to $3.73 billion a year ago.
Lower Respiratory Activity And Weather Weigh On Volumes
“The start of the year presented a dynamic environment for HCA Healthcare,” said Sam Hazen, CEO of HCA Healthcare.
During the first quarter of 2026, the company did not experience a typical seasonal volume increase, primarily due to respiratory activity.
Respiratory-related admissions were down 42%, and respiratory-related emergency room visits were down 32%, compared to the first quarter of 2025.
In addition, a winter storm in January negatively impacted first-quarter volumes in certain markets.
The company highlighted a milder respiratory season in the quarter, producing a drag on quarterly volume growth in admissions and ER visits of 70 basis points and 140 basis points, respectively.
HCA Healthcare Reaffirms 2026 Guidance
The company affirmed its 2026 earnings guidance of $29.10-$31.50 per share versus the consensus of $30.14, with sales of $76.5 billion-$80 billion compared to the consensus of $78.68. billion.
HCA Price Action: HCA Healthcare shares were down 9.08% at $431.01 at the time of publication on Friday, according to Benzinga Pro data.
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