HCA Healthcare Q1 Earnings Up, Above Estimates; Raises Annual Outlook

(RTTNews) - Health care services provider HCA Healthcare, Inc. (HCA) Friday reported higher profit in the first quarter, helped by rise in revenue. The company's earnings as well as revenue beat the Street view. HCA also raised its full-year outlook.

Net income was $1.363 billion, or $4.85 per share for the first quarter, up from $1.273 billion, or $4.14 per share, in the same quarter a year ago.

19 analysts on average polled by Thomson-Reuters were expecting earnings of $3.93 per share. Analysts' estimates typically exclude special items.

Revenues in the quarter increased to $15.591 billion, from $14.945 billion last year. The consensus estimate was for $15.27 billion.

For the full year, the company now expects revenues in the range of $62.5 billion-$64.5 billion, up from the prior guidance of $61.5- $63.5 billion.

EPS outlook for the full year is raised to $17.25 to $18.55 from $16.40 to $17.60.

Analysts expect the company to report earnings of $17.25 per share on revenue of $62.61 billion for the year.

HCA's Board has declared a quarterly dividend of $0.60 per share to be paid on June 30, to stockholders of record on June 16.

HCA shares are up more than 3% in pre-market. Thursday, it closed at $270.78, down 0.81%.