--- title: "HCA Healthcare | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 20.23 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/293751784.md" datetime: "2026-07-24T11:48:19.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293751784.md) - [en](https://longbridge.com/en/news/293751784.md) - [zh-HK](https://longbridge.com/zh-HK/news/293751784.md) generator: "portal-rs" --- # HCA Healthcare | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 20.23 B Revenue: As of FY2026 Q2, the actual value is USD 20.23 B, beating the estimate of USD 19.74 B. EPS: As of FY2026 Q2, the actual value is USD 7.62, beating the estimate of USD 7.4576. EBIT: As of FY2026 Q2, the actual value is USD 3.093 B. ### Second Quarter 2026 Financial and Operational Highlights #### Net Income and Profitability Net income attributable to HCA Healthcare, Inc. increased by 2.8 percent to $1.699 billion in the second quarter of 2026, compared to $1.653 billion in the second quarter of 2025.Adjusted EBITDA increased by 4.6 percent to $4.027 billion in the second quarter of 2026, compared to $3.849 billion in the second quarter of 2025.Income before income taxes was $2.494 billion in the second quarter of 2026, compared to $2.415 billion in the second quarter of 2025.Net income was $1.930 billion in the second quarter of 2026, compared to $1.891 billion in the second quarter of 2025.Net income attributable to noncontrolling interests was $231 million in the second quarter of 2026, compared to $238 million in the second quarter of 2025.Comprehensive income attributable to HCA Healthcare, Inc. was $1.692 billion in the second quarter of 2026, compared to $1.701 billion in the second quarter of 2025.Adjusted EBITDA margin was 19.9 percent in the second quarter of 2026, down from 20.7 percent in the second quarter of 2025. #### Operating Costs Salaries and benefits were $8.290 billion (41.0% of revenues) in the second quarter of 2026, compared to $8.138 billion (43.7% of revenues) in the second quarter of 2025.Supplies were $2.886 billion (14.3% of revenues) in the second quarter of 2026, compared to $2.844 billion (15.3% of revenues) in the second quarter of 2025.Other operating expenses totaled $5.043 billion (24.9% of revenues) in the second quarter of 2026, compared to $3.793 billion (20.4% of revenues) in the second quarter of 2025.Equity in earnings of affiliates was - $16 million in the second quarter of 2026, compared to - $19 million in the second quarter of 2025.Depreciation and amortization was $944 million in the second quarter of 2026, compared to $863 million in the second quarter of 2025.Interest expense was $599 million in the second quarter of 2026, compared to $568 million in the second quarter of 2025.Losses (gains) on sales of facilities were - $10 million in the second quarter of 2026, compared to $3 million in the second quarter of 2025.Provision for income taxes was $564 million in the second quarter of 2026, compared to $524 million in the second quarter of 2025. #### Cash Flow Cash flows from operating activities totaled $2.335 billion in the second quarter of 2026, compared to $4.210 billion in the second quarter of 2025.Capital expenditures totaled $1.231 billion in the second quarter of 2026, excluding acquisitions. #### Operational Metrics Same facility admissions increased by 2.5 percent.Same facility equivalent admissions increased by 2.7 percent.Same facility emergency room visits increased by 3.6 percent.Same facility inpatient surgeries declined by 2.3 percent.Same facility outpatient surgeries declined by 3.4 percent.Same facility revenue per equivalent admission increased by 6.4 percent.Reported admissions increased by 2.4 percent to 579,562.Reported equivalent admissions increased by 2.6 percent to 1,044,384.Reported revenue per equivalent admission was $19,370, an increase of 6.0 percent.Reported inpatient revenue per admission was $22,524, an increase of 14.6 percent.Patient days increased by 0.6 percent to 2,690,923.Equivalent patient days increased by 0.8 percent to 4,850,633.Inpatient surgery cases decreased by -2.3 percent to 133,041.Outpatient surgery cases decreased by -4.4 percent to 246,947.Emergency room visits increased by 3.5 percent to 2,526,147.Outpatient revenues as a percentage of patient revenues was 33.7 percent, down from 38.4 percent.Average length of stay was 4.643 days, down from 4.726 days.Occupancy was 72.7 percent, up from 72.0 percent. #### Unique Metrics and Factors A payer mix shift, primarily due to an increase in uninsured volume, had an estimated unfavorable impact of approximately - $400 million on income before income taxes in the second quarter, including an increase of approximately $75 million related to the Company’s previous estimate of the first quarter health insurance exchange impact.The Company recognized approximately $400 million of incremental net benefit from Medicaid Supplemental Payment Programs, primarily related to the Florida program.The second quarter of 2026 included incremental revenues of $1.372 billion and other operating expenses of $829 million related to the Florida directed payment program, with approximately $980 million of these incremental revenues and $557 million of other operating expenses related to periods prior to 2026. ### Six Months Ended June 30, 2026 Financial and Operational Highlights #### Net Income and Profitability Net income attributable to HCA Healthcare, Inc. was $3.319 billion for the first six months of 2026, compared to $3.263 billion for the first six months of 2025.Income before income taxes was $4.781 billion for the six months ended June 30, 2026, compared to $4.742 billion for the same period of 2025.Net income was $3.787 billion for the six months ended June 30, 2026, compared to $3.716 billion for the same period of 2025.Net income attributable to noncontrolling interests was $468 million for the six months ended June 30, 2026, compared to $453 million for the same period of 2025.Comprehensive income attributable to HCA Healthcare, Inc. was $3.290 billion for the six months ended June 30, 2026, compared to $3.341 billion for the same period of 2025.Adjusted EBITDA was $7.829 billion for the six months ended June 30, 2026, compared to $7.582 billion for the same period of 2025.Adjusted EBITDA margin was 19.9 percent for the six months ended June 30, 2026, down from 20.5 percent for the same period of 2025. #### Operating Costs Salaries and benefits were $16.573 billion (42.1% of revenues) for the six months ended June 30, 2026, compared to $16.135 billion (43.7% of revenues) for the same period of 2025.Supplies were $5.739 billion (14.6% of revenues) for the six months ended June 30, 2026, compared to $5.608 billion (15.2% of revenues) for the same period of 2025.Other operating expenses totaled $9.223 billion (23.5% of revenues) for the six months ended June 30, 2026, compared to $7.638 billion (20.7% of revenues) for the same period of 2025.Equity in earnings of affiliates was - $25 million for the six months ended June 30, 2026, compared to - $37 million for the same period of 2025.Depreciation and amortization was $1.874 billion for the six months ended June 30, 2026, compared to $1.723 billion for the same period of 2025.Interest expense was $1.183 billion for the six months ended June 30, 2026, compared to $1.115 billion for the same period of 2025.Losses (gains) on sales of facilities were - $9 million for the six months ended June 30, 2026, compared to $2 million for the same period of 2025.Provision for income taxes was $994 million for the six months ended June 30, 2026, compared to $1.026 billion for the same period of 2025. #### Cash Flow Net cash provided by operating activities was $4.349 billion for the six months ended June 30, 2026, compared to $5.861 billion for the same period of 2025.Net cash used in investing activities was - $2.839 billion for the six months ended June 30, 2026, compared to - $2.283 billion for the same period of 2025.Net cash used in financing activities was - $1.534 billion for the six months ended June 30, 2026, compared to - $4.584 billion for the same period of 2025.Cash and cash equivalents at the end of the period were $1.013 billion as of June 30, 2026. #### Operational Metrics Reported admissions increased by 1.5 percent to 1,159,820.Reported equivalent admissions increased by 1.9 percent to 2,067,959.Reported revenue per equivalent admission was $19,023, an increase of 4.6 percent.Reported inpatient revenue per admission was $21,409, an increase of 9.8 percent.Patient days decreased by -0.8 percent to 5,465,530.Equivalent patient days decreased by -0.5 percent to 9,745,040.Inpatient surgery cases decreased by -1.3 percent to 266,303.Outpatient surgery cases decreased by -3.6 percent to 487,008.Emergency room visits increased by 1.5 percent to 5,035,230.Outpatient revenues as a percentage of patient revenues was 35.1 percent, down from 37.9 percent.Average length of stay was 4.712 days, down from 4.825 days.Occupancy was 74.1 percent, down from 74.4 percent.Same facility admissions increased by 1.7 percent.Same facility equivalent admissions increased by 2.0 percent.Same facility revenue per equivalent admission increased by 4.8 percent.Same facility inpatient revenue per admission increased by 10.2 percent.Same facility inpatient surgery cases decreased by -1.4 percent.Same facility outpatient surgery cases decreased by -2.5 percent.Same facility emergency room visits increased by 1.9 percent. ### Balance Sheet as of June 30, 2026 Cash and cash equivalents were $1.013 billion.Total debt was $49.718 billion.Total assets were $63.250 billion.Stockholders’ deficit attributable to HCA Healthcare, Inc. was - $6.642 billion.Noncontrolling interests were $3.433 billion. ### Shareholder Returns and Liquidity HCA Healthcare, Inc. repurchased 4.752 million shares of its common stock at a cost of $2.064 billion during the second quarter of 2026.As of June 30, 2026, $7.210 billion remained under its repurchase authorization.The Company had $3.086 billion of availability under its credit facility as of June 30, 2026.HCA Healthcare, Inc.’s Board of Directors declared a quarterly cash dividend of $0.78 per share, payable on September 30, 2026. ### 2026 Updated Guidance HCA Healthcare, Inc. revised its 2026 guidance, now expecting revenues between $77.000 billion and $79.500 billion, and net income attributable to HCA Healthcare, Inc. to be between $6.300 billion and $6.700 billion.Adjusted EBITDA is projected to range from $15.400 billion to $16.100 billion, while the estimated unfavorable impact from health insurance exchanges worsened to - $1.000 billion to - $1.200 billion.Conversely, the estimated net benefit from Medicaid Supplemental Payment Programs improved to $300 million to $500 million, and capital expenditures remain unchanged at $5.0 billion to $5.5 billion, excluding acquisitions. ### Related Stocks - [HCA.US](https://longbridge.com/en/quote/HCA.US.md) ## Related News & Research - [1ST Source Bank Invests $3.38 Million in HCA Healthcare, Inc. $HCA](https://longbridge.com/en/news/296066817.md) - [HCA Healthcare, Inc. to Present at September Conferences | HCA Stock News](https://longbridge.com/en/news/296536002.md) - [Shore Capital sells Texas MedClinic to HCA Healthcare](https://longbridge.com/en/news/295931728.md) - [HCA Healthcare (HCA) Stock May Be 49% Undervalued As Wage Pressure Builds](https://longbridge.com/en/news/295629002.md) - [NewEdge Advisors LLC Buys 3,025 Shares of HCA Healthcare, Inc. $HCA](https://longbridge.com/en/news/295636564.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**