HCA, the largest hospital chain by revenue, said it once again expects to exceed the earnings guidance it previously gave investors for 2014.
The positive earnings preview comes after a strong year for HCA. This is the third consecutive quarter that the chain raised its earnings projections. Shares of the Nashville-based hospital operator climbed 55.5% over the course of 2014 and the chain also saw its credit rating upgraded.
In its upping its guidance, HCA cited a 5% increase in same-facility admissions as well as 10.5% increase in same-facility admissions compared with the same period in 2013.
In addition, HCA will record $68 million in Texas Medicaid revenue that was previously lost in the third quarter. The CMS had withheld its portion of Medicaid payments while it investigated whether some local government/hospital affiliations were inconsistent with the Texas Medicaid waiver program.
HCA now expects its 2014 adjusted earnings before interest, taxes, depreciation and amortization to be about $7.4 billion, above the range of $7.25 billion to $7.35 billion that it previously provided to investors.
The company also said it completed its $1 billion share repurchase program after buying up about 14 million shares of common stock in the fourth quarter.
HCA expects to report its fourth quarter results on Feb. 3 and also will present Monday at the J.P. Morgan Healthcare Conference.
Follow Beth Kutscher on Twitter: @MHbkutscher
