HCA Expects 2026 Results in Upper Half of Guidance After Q3 Growth

HCA Healthcare expects its 2026 operating results to land in the upper half of its July guidance ranges after quarterly revenue and adjusted earnings increased while net income declined.

Revenue for the quarter ended Sept. 30 was $19.849 billion, up 3.6% from $19.161 billion a year earlier. Adjusted diluted earnings per share rose 3.7% to $7.22 from $6.96. Adjusted EPS is a non-GAAP measure.

Net income attributable to HCA fell 3.9% to $1.579 billion. GAAP diluted EPS increased 4.5% to $7.27 from $6.96, a separate measure from adjusted EPS.

The company put the quarter’s pretax impact from higher uninsured volume at about $400 million, citing mainly patients who lost health-exchange coverage.

Same-facility equivalent admissions increased 3% year over year, and emergency room visits rose 5.1%. Inpatient surgeries declined 1.4%, while outpatient surgeries fell 3.7%.

For 2026, the ranges cover revenue of $77 billion to $79.5 billion, adjusted EBITDA of $15.4 billion to $16.1 billion, diluted EPS of $28.70 to $30.50, and net income attributable to HCA of $6.3 billion to $6.7 billion. The company expects operating results in the upper half of those ranges but did not provide a separate full-year point forecast.

CEO Sam Hazen said, “We believe HCA Healthcare is positioned to end the year positively.” At quarter-end, HCA’s network spanned 19 states and the United Kingdom, with 189 hospitals and about 2,600 ambulatory sites.