Shares of HCA Healthcare Inc.
HCA,
-0.72%
were up 6.6% in premarket trading on Tuesday after the hospital company reported that it has largely recovered from the slow second quarter of 2020, when many people avoided going to hospitals for care as a result of the COVID-19 pandemic. The company’s net income was $1.45 billion, or $4.36 per share, in the second quarter of 2021, compared with $1.08 billion, or $3.16 per share, in the second quarter of last year. The FactSet consensus for EPS was $3.16. Revenue jumped to $14.43 billion for the quarter, up from $11.07 in the same quarter in 2020, against a FactSet consensus of $13.6 billion. This is an important quarter to watch because the most restrictive lockdown days occurred during those three months; during this time, many Americans and providers canceled non-urgent medical care to limit the spread of the virus. Year-over-year, HCA said same-facility admissions increased 17.5%, same-facility emergency room visits rose 40.5%, and same-facility outpatient surgeries soared 52.5%. Admissions and outpatient surgery cases were also up when compared to the second quarter of 2019, though ER visits and inpatient surgeries were not. HCA updated its 2021 guidance, citing revenues of $57 billion to $58 billion and EPS of $16.30 to $17.10. This is above the FactSet consensus of revenue of $55.3 billion and EPS of $14.02. HCA’s stock is up 32.3% for the year, while the broader S&P 500
SPX,
-1.59%
is up 15.2%.
