HCA Healthcare reported first-quarter 2026 revenue of $19.109 billion, up 4.3% from $18.321 billion a year earlier.
Net income attributable to the company rose to $1.620 billion from $1.610 billion, a gain of 0.6%. Diluted earnings per share increased 10.9% to $7.15 from $6.45.
Adjusted EBITDA climbed 1.9% to $3.802 billion from $3.733 billion. Cash flow from operating activities jumped 22.0% to $2.014 billion from $1.651 billion.
On the volume side, same-facility admissions increased 0.9% and same-facility equivalent admissions rose 1.3%. Same-facility emergency room visits were up 0.3%.
Procedure volumes were weaker: same-facility inpatient surgeries slipped 0.3%, and outpatient surgeries fell 1.7%.
Revenue per equivalent admission increased 3.1% from the prior-year quarter.
HCA said respiratory-related admissions fell 42% and respiratory-related emergency room visits declined 32% versus the first quarter of 2025, while a January winter storm also weighed on volumes in some markets. Those volume pressures were partly offset by recognition of Medicaid supplemental programs not included in the company’s initial 2026 guidance.
At March 31, HCA held $940 million in cash and cash equivalents, $48.023 billion in total debt and $61.450 billion in total assets.
During the quarter, capital expenditures totaled $1.119 billion, excluding acquisitions. The company repurchased 3.157 million shares for $1.571 billion and had $9.179 billion remaining under its buyback authorization. It also had $4.336 billion of availability under its credit facility.
The board declared a quarterly dividend of $0.78 per share, payable June 30 to shareholders of record June 16. The market has reacted to these announcements by moving the company's shares -0.76% to a price of $480.32. If you want to know more, read the company's complete 8-K report here.
