HCA Healthcare reported strong Q2 2024 financial results with revenues increasing 10.3% to $17.49 billion, driven by a 6.0% rise in admissions and a 4.1% growth in revenue per equivalent admission. Net income attributable to HCA Healthcare grew 22.5% to $1.46 billion, or $5.53 per diluted share, compared to $1.19 billion in Q2 2023. The quarter included $12 million in gains from facility sales.Operating metrics showed robust growth with same-facility admissions up 5.8% and emergency room visits increasing 5.3%. Labor costs improved as contract labor expenses declined 25.7% year-over-year, while salaries and benefits as a percentage of revenues decreased to 43.9% from 45.9%. The company maintained strong cost management with supplies at 15.1% of revenues, down from 15.6% in the prior year.During the quarter, HCA continued its capital deployment strategy, repurchasing 4.2 million shares at an average price of $324.16 per share. The company issued $4.5 billion in senior notes in February 2024 and repaid $2.0 billion in maturing notes in March. Operating cash flow remained healthy at $1.97 billion for Q2, though down from $2.48 billion in Q2 2023 primarily due to working capital changes.

HCA Healthcare reported strong Q2 2024 financial results with revenues increasing 10.3% to $17.49 billion, driven by a 6.0% rise in admissions and a 4.1% growth in revenue per equivalent admission. Net income attributable to HCA Healthcare grew 22.5% to $1.46 billion, or $5.53 per diluted share, compared to $1.19 billion in Q2 2023. The quarter included $12 million in gains from facility sales.Operating metrics showed robust growth with same-facility admissions up 5.8% and emergency room visits increasing 5.3%. Labor costs improved as contract labor expenses declined 25.7% year-over-year, while salaries and benefits as a percentage of revenues decreased to 43.9% from 45.9%. The company maintained strong cost management with supplies at 15.1% of revenues, down from 15.6% in the prior year.During the quarter, HCA continued its capital deployment strategy, repurchasing 4.2 million shares at an average price of $324.16 per share. The company issued $4.5 billion in senior notes in February 2024 and repaid $2.0 billion in maturing notes in March. Operating cash flow remained healthy at $1.97 billion for Q2, though down from $2.48 billion in Q2 2023 primarily due to working capital changes.