HCA Holdings Lifts Full-Year Outlook; Shares Up

(RTTNews) - HCA Holdings Inc. (HCA) on Wednesday lifted its financial outlook for the full year 2014 after the hospital operator's preliminary second-quarter results exceeded internal expectations. Shares of HCA are currently up ten percent, following the news.

For the second quarter, the Nashville, Tennessee-based company expects net income at about $1.07 per share, compared to last year's $0.91 per share.

On average, twenty-one analysts polled by Thomson Reuters currently expect earnings of $0.92 per share for the quarter. Analysts' estimates typically exclude special items.

HCA anticipates revenues of around $9.23 billion for the second quarter, compared to $8.45 billion a year ago. Sixteen analysts currently expect revenues of $8.86 billion for the second-quarter.

The company said its same facility admissions for the second quarter increased 1.2 percent while same facility revenue per equivalent admission is expected to increase about 5.4 percent in the second quarter.

Chief Executive Milton Johnson said, "Results for the second quarter of 2014 exceeded our internal expectations, both in terms of our core operations and healthcare reform. As a result, we are raising our earnings guidance for the full year 2014."

Moving ahead, HCA now expect full-year 2014 adjusted earnings in the range of $4.00 to $4.25 per share and revenues between $36.0 billion and $36.5 billion. The Street currently expect earnings of $3.71 per share on revenues of $35.94 billion for 2014.

Earlier, the company expected adjusted earnings of $3.45 to $3.75 per share, and revenues of $35.5 billion to $36.5 billion.

HCA is scheduled to report its second quarter results on or about July 29, 2014.

HCA is currently trading at $60.63, up $5.42 or 9.82%, on a volume of 8.06 million shares on the NYSE.