HCA Healthcare (NYSE:HCA) shares gained nearly 4% on Friday after the company reported its Q1 earnings, with EPS of $4.85 coming in better than the Street estimate of $3.93. Revenues were $15.59 billion, beating the Street estimate of $15.27 billion.
The company discussed improvements to labor trends with contract labor falling and hiring increasing. The improvements to capacity are continuing to help the top-line and admission trends, with adjusted admissions being up 7.5% and non-COVID MC admissions up 11%.
For the full 2023 year, the company expects EPS in the range of $17.25-$18.55, compared to the Street estimate of $17.25. Full-year revenue is seen at $62.5-$64.5 billion, compared to the Street estimate of $62.6 billion.