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VOL. 129 | NO. 84 | Wednesday, April 30, 2014

HCA First-Quarter Profit Climbs But Misses Expectations

AP

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NASHVILLE (AP) – Shares of HCA Holdings Inc. slipped Tuesday after the hospital operator reported first-quarter earnings that inched up but fell short of Wall Street's expectations.

The Nashville, Tenn., company said results for the quarter that ended March 31 included $78 million in legal claim costs from an increase in an estimate of the company's liability in a lawsuit over the purchase of some hospitals from Health Midwest. The quarter also included a $21-million gain on the sale of some facilities.

Not counting those items, HCA earned 84 cents per share in the quarter, a penny short of average analyst expectations for 85 cents per share.

Overall, the company earned $347 million, or 76 cents per share, in the first quarter. That compares with earnings of $344 million, or 74 cents per share, last year.

Revenue climbed 4.6 percent to $8.83 billion.

Analysts expected, on average, $8.87 billion in revenue, according to FactSet.

HCA runs about 165 hospitals and 115 free-standing surgery centers in 20 states and England. It said adjusted admissions at hospitals open at least a year fell slightly, but revenue per admission at those locations rose 3.7 percent.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 66 153 14,870
MORTGAGES 64 144 19,474
FORECLOSURE NOTICES 0 22 3,817
BUILDING PERMITS 217 359 35,689
BANKRUPTCIES 59 121 14,155
BUSINESS LICENSES 24 86 5,077
UTILITY CONNECTIONS 71 170 21,603
MARRIAGE LICENSES 22 59 4,616

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