HCA

Tenet Healthcare Corporation’s THC second-quarter 2026 results show why its Hospital Operations segment remains an important earnings driver. Despite pressure from weaker exchange enrollment, the segment delivered stronger volumes, better revenue per patient and meaningful margin improvement, giving investors a reason to remain optimistic about the earnings outlook. Hospital adjusted admissions increased 2.6% year over year, while revenue per adjusted admission rose 3.3%. This combination is encouraging because THC is benefiting from both healthy patient demand and a better mix of services. The improvement in revenue per admission reflects its focus on higher-acuity care, while stronger commercial revenues are helping support top-line growth. The hospital segment is translating this momentum into stronger profitability. Hospital adjusted EBITDA jumped 22.3% to $762 million, significantly faster than revenue growth, while the margin expanded to 18% from 15.6% a year ago. This suggests its cost-management efforts are helping convert operational growth into stronger profits. However, exchange weakness remains a caution. Exchange revenues fell 17% in the second quarter of 2026 and are expected to remain under pressure. Still, continued volume growth, better acuity and cost discipline should help offset some of that weakness. The company’s $2.67-$2.81 billion 2026 Hospital adjusted EBITDA guidance signals confidence in continued underlying improvement, positioning the segment as a potential near-term tailwind for THC’s earnings. Tenet is not the only one benefiting from healthy demand for hospital care. Healthcare peers, including Universal Health Services, Inc. UHS and HCA Healthcare, Inc. HCA, also reported solid hospital volume and revenue growth in the second quarter of 2026. Universal Health delivered strong hospital performance, with acute-care adjusted admissions rising 2.9%. UHS’ net revenue per adjusted admission increased 3.0%, while same-facility acute-care revenues grew 8.2%, reflecting continued strength across its hospital operations. HCA Healthcare posted solid hospital growth in the second quarter of 2026, with same-facility equivalent admissions increasing 2.7%. HCA’s revenue per equivalent admission also rose 6.4%, pointing to healthy demand and a favorable patient mix. Shares of Tenet Healthcare have gained 56.4% over the past year compared with the industry's 28% growth over the same period. Image Source: Zacks Investment Research From a valuation standpoint, THC trades at a forward price-to-earnings ratio of 13.43X, up from the industry average of 11.28X. THC carries a Value Scoreof A. Image Source: Zacks Investment Research The Zacks Consensus Estimate for THC’s 2026 earnings is pegged at $20.16 per share, implying a 20.1% jump from the year-ago period’s level. Image Source: Zacks Investment Research THC currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tenet Healthcare Corporation (THC) : Free Stock Analysis Report Universal Health Services, Inc. (UHS) : Free Stock Analysis Report HCA Healthcare, Inc. (HCA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in ResMed Inc.? Here are five stocks we like better. ResMed delivered strong fiscal 2026 results, with fourth-quarter revenue up 9% and non-GAAP EPS rising 16% to $2.95. Full-year free cash flow exceeded $1.6 billion, while shareholder returns surpassed $1 billion. Astral ventilator sales suspensions will weigh on fiscal 2027. ResMed expects about a $75 million revenue impact and a $0.15 EPS headwind, although sleep-device and mask growth continued across regions. Fiscal 2027 guidance calls for reported revenue of $5.75 billion to $5.85 billion and non-GAAP EPS of $12.00 to $12.25. The company also plans $1.5 billion in share repurchases, raised its quarterly dividend 10% to $0.66, and expects GLP-1 medicines, wearable partnerships and new products to support long-term sleep-health growth. HCA Healthcare Rallies: Weight-loss drugs really a big threat? ResMed (NYSE:RMD) reported fourth-quarter fiscal 2026 revenue growth of 9% on a reported basis, or 8% in constant currency, as demand for sleep devices and masks increased. Non-GAAP earnings per share rose 16% to $2.95, while the company expanded gross margin despite continued inflation in electronic components and freight. For the full fiscal year ended June 30, ResMed posted 10% reported revenue growth, 8% constant-currency growth, and 17% growth in non-GAAP earnings per share. The company generated more than $1.6 billion in free cash flow and returned more than $1 billion to shareholders through dividends and repurchases, a 72% increase from the prior year. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling “ResMed’s core markets remain largely under-penetrated,” Chairman and CEO Mick Farrell said, citing expanding awareness of sleep health through consumer wearables, GLP-1 medicines and clinician education. Fourth-quarter group revenue totaled $1.5 billion. In the Americas, sleep-device revenue increased 8%, masks and other revenue rose 10%, and life-support device revenue declined 45%. In the rest of the world, sleep-device revenue rose 13%, masks and other revenue increased 12%, and life-support device revenue declined 38%. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High The company began providing a more detailed split of device revenue, separating sleep devices from life-support devices. Sleep devices include CPAP, APAP and bilevel products, along with Noctrix revenue, while life-support devices include ventilators such as Astral. ResMed’s non-GAAP gross margin rose 90 basis points year over year to 62.3% in the fourth quarter. CFO Aaron Bloomer said productivity and supply-chain efficiency efforts more than offset inflation during the period, though gross margin was down about 50 basis points sequentially because of higher component and freight costs as well as a roughly 20-basis-point foreign-exchange headwind. → No Hangover: Revisiting Microsoft One Week After Earnings The company recorded a $42 million provision during the quarter for expected costs related to an Astral device field safety notice. That charge was excluded from non-GAAP financial results. Farrell said the provision represents ResMed’s estimate of the total cost of the global corrective action and that the company is prioritizing available electronic components for existing patients based on clinical need. ResMed expects its decision to suspend new Astral sales during fiscal 2027 to create an approximately $75 million revenue headwind, or about 130 basis points of growth, and an estimated $0.15 earnings-per-share headwind. The company has not made decisions regarding Astral sales beyond fiscal 2027, Farrell said. For fiscal 2027, ResMed forecast core constant-currency revenue growth of 5% to 7%, excluding Noctrix revenue and adjusting the comparison period for the planned sale of MatrixCare. Including the Astral impact, the company expects reported revenue of $5.75 billion to $5.85 billion, assuming an approximately 50-basis-point foreign-exchange headwind based on rates at fiscal year-end. ResMed expects non-GAAP earnings per share of $12.00 to $12.25, representing reported growth of about 7% to 10%. Excluding estimated dilution of approximately $0.30 from the MatrixCare divestiture and $0.20 from the Noctrix acquisition, the guidance implies core EPS growth of 12% to 14%, according to Bloomer. Gross margin is expected to expand by a low-double-digit number of basis points for fiscal 2027. Operating margin is expected to increase slightly. Capital expenditures are expected to rise to $160 million to $180 million as ResMed expands and automates its manufacturing footprint. First-quarter fiscal 2027 revenue is expected to show typical seasonal sequential declines, excluding MatrixCare, Noctrix and Astral effects. Bloomer said ResMed expects modest price increases to contribute over the course of the year, but emphasized that volume growth remains the principal driver of the company’s expansion. The company expects supply-chain productivity, distribution-network optimization and modest pricing to support margin improvement later in fiscal 2027. Farrell said ResMed is working to expand the path from sleep-health awareness to screening, diagnosis and therapy. The company highlighted its partnership with wearable technology company ŌURA, saying approximately 13,000 users had reached resmed.com from the ŌURA app. Thousands completed ResMed’s sleep assessment, and about 75% of those assessed identified as previously undiagnosed. ResMed also continues to view GLP-1 therapies as a tailwind. Based on an analysis of more than 2.5 million de-identified patients, Farrell said patients with prescriptions for both PAP therapy and GLP-1 medicines were approximately 11% more likely to begin PAP therapy than patients prescribed PAP alone. They were also more likely to have resupply events after one and three years. The company continued the global rollout of its AirSense 11 connected-care platform and introduced AirCurve 11 ST and ST-A bilevel platforms in the U.S. It also launched AirCurve 11 in Hong Kong, Singapore, Australia and New Zealand. In masks, ResMed cited continued rollout of AirTouch N30i and F30i fabric-technology products and strong uptake of the AirFit F40 full-face mask. ResMed said its GenAI-powered digital sleep coach in the myAir patient app has received more than 1.5 million inquiries to date and has reduced customer-service inquiries. ResMed closed its acquisition of Noctrix on June 1 and has begun integrating the business. Noctrix markets an FDA De Novo-classified device for restless legs syndrome. Farrell said the product is prescribed primarily by sleep physicians and uses the same HME and DME channels as ResMed’s other sleep-health products. The company also expects to close the divestiture of MatrixCare on or around Sept. 1, subject to regulatory approvals. MatrixCare generated approximately $220 million in fiscal 2026 revenue and $58 million in non-GAAP operating profit. Following the transaction, ResMed expects its remaining Residential Care Software business, including Brightree and MEDIFOX DAN, to deliver high-single-digit revenue growth in fiscal 2027. ResMed plans $1.5 billion in share repurchases during fiscal 2027, including a $450 million accelerated repurchase program expected to use proceeds from the MatrixCare sale. Its board also increased the quarterly dividend 10% to $0.66 per share. The company expects total fiscal 2027 capital returns through dividends and buybacks to exceed $1.85 billion. ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide. ResMed's product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "ResMed Q4 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Interested in Outset Medical, Inc.? Here are five stocks we like better. Q2 revenue reached $31.6 million, up 1% year over year and 14% sequentially, while Outset Medical reiterated its full-year revenue outlook of $125 million to $130 million. Management expects most growth to come in the third and fourth quarters. Non-GAAP gross margin improved more than 380 basis points to 42.2%, and the non-GAAP operating loss narrowed 7% to $12.4 million. The company ended the quarter with $151 million in cash and expects full-year cash usage below $40 million. Outset signed a $40 million HCA Healthcare refresh agreement extending through 2028, creating contracted backlog and potential additional expansion opportunities. The company estimates the broader refresh cycle could involve about 3,000 consoles and up to $150 million in console revenue over several years. Breakout Momentum Plays You Need to Know About Outset Medical (NASDAQ:OM) reported second-quarter 2026 revenue of $31.6 million, up 1% from a year earlier and 14% sequentially, as the dialysis technology company cited commercial progress, improving margins and a new $40 million refresh agreement with HCA Healthcare. Chair and Chief Executive Officer Leslie Trigg said the company’s second-quarter performance reflected “steady execution across revenue, gross margin, operating expense discipline, and cash management.” Outset reiterated its full-year revenue guidance of $125 million to $130 million, representing anticipated growth of 5% to 9% from 2025. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth Outset’s Tablo platform is used by hospitals and other providers to support insourced dialysis programs. During the quarter, the company completed its highest number of successful new-site implementations in several years, according to Trigg. Chief Financial Officer Renee Gaeta said product revenue totaled $21.9 million, down 5% year over year. Console revenue rose 6% to $9.5 million, while consumable revenue declined 12% to $12.4 million against what Gaeta described as a difficult prior-year comparison. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Service and other revenue increased 17% to $9.7 million, supported by higher volumes and average selling price increases. Recurring revenue, including consumables, service, implementation services and freight, was $22.1 million, down 2% from the prior-year period. Non-GAAP gross margin improved to 42.2%, up more than 380 basis points from the second quarter of 2025. Gaeta attributed the improvement primarily to product-cost reductions, lower overhead and service efficiencies. Product gross margin was 46.1%, down about 280 basis points because of a higher mix of console sales, while service and other gross margin rose more than 2,400 basis points to 33.4%. → Ulta's Growth Is Real, But So Are the Risks “Gross margin performance reflects strong execution and keeps us on track towards our next milestone of a 50% company-wide gross margin,” Gaeta said. Non-GAAP operating expenses were $25.8 million, up 1% from a year earlier. The company reported a non-GAAP operating loss of $12.4 million, an improvement of 7% year over year. Outset ended the quarter with $151 million in cash equivalents, short-term investments and restricted cash. Cash use was $9.5 million during the quarter, and Gaeta said the company remains on track to use less than $40 million in cash for the full year. A central development during the quarter was Outset’s signing of a $40 million refresh agreement with HCA Healthcare. The agreement extends HCA’s and Outset’s commitment to insourced dialysis through 2028 and calls for HCA facilities already using Outset’s platform to update their fleets. Trigg characterized the agreement as Outset’s first refresh win and said it provides contracted backlog that improves revenue visibility and predictability. The $40 million figure does not include potential expansion into additional HCA facilities that do not currently use Tablo. Outset believes the refresh cycle could include approximately 3,000 consoles and represent up to $150 million in console revenue opportunity over the next several years. Company executives declined to provide more detailed timing or revenue-recognition expectations for the HCA agreement, citing customer confidentiality. Gaeta said HCA was part of the company’s second-quarter pipeline and contributed to the strong console performance, alongside expansion customers and other console placements. She said Outset has a pipeline containing a range of deal sizes. Management said the decline in consumables reflected comparisons with strong demand in the first half of 2025, when flu season and hospital census levels benefited the business. Gaeta said the company continues to see strong device utilization across customer segments and did not identify any concerning trends. Trigg said a higher number of site implementations in the second quarter reflected a prior delay between console sales and subsequent installations and training. She said those installations should support more normal ordering patterns in the future. One Texas health system trained more than 100 nurses through Outset’s clinical excellence team and supported 956 treatments during its first 60 days, Trigg said. The company also implemented new sites at a top-10 health system customer, hospitals within regional health systems and post-acute care facilities. Outset has established a customer-success program in which hospital customers are paired with clinical excellence team members who track operational, financial and clinical measures. In an independent Voice of the Customer assessment during the quarter, customers gave Outset an average recommendation score of 8.8 out of 10, according to Trigg. The company is also conducting a pilot phase for its next-generation Tablo system. Trigg said the update includes hardware and software enhancements intended to improve performance, reliability, cybersecurity and clinician experience. She said Outset is taking a measured approach to the launch and will evaluate user experience, feedback and system performance before a broader rollout. Outset expects most of its full-year growth to occur in the third and fourth quarters. In response to analyst questions, Gaeta said the company expects the third quarter could be affected by typical medtech seasonality, while the fourth quarter is expected to be stronger. Trigg said Outset’s commercial priorities include expanding sales coverage among the top 250 health systems, growing within existing accounts and pursuing new customer acquisition. She added that the company now serves all 10 of the largest health systems, all 10 of the largest post-acute providers and approximately 30% of the top 100 integrated delivery networks. Outset Medical is a medical technology company specializing in innovations for renal care. The company's flagship offering, the Tablo Hemodialysis System, is designed to streamline and simplify dialysis treatment across acute and outpatient settings. By integrating water purification, dialysate production, and treatment monitoring into a single device, Tablo aims to reduce the complexity and logistical burden traditionally associated with hemodialysis therapy. Tablo's modular design allows for rapid setup and flexible deployment in hospitals, clinics, long‐term care facilities and emergency response scenarios. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Outset Medical Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

SAN JOSE, Calif., Aug. 06, 2026 (GLOBE NEWSWIRE) -- Outset Medical, Inc. (Nasdaq: OM), a medical technology company pioneering a first-of-its-kind technology to improve clinical outcomes in dialysis with less cost and complexity, today reported financial results for the second quarter ended June 30, 2026. Second Quarter and Recent Highlights Net revenue totaled $31.6 million, an increase of 1% compared to the prior-year period and an increase of 14% sequentially. Recurring revenue, consisting of Tablo consumables and services, was $22.1 million, roughly even with the prior-year period. Gross margin expanded to 42%, an increase of more than 400 basis points compared to the prior-year period. Net cash used during the quarter was $9.5 million, resulting in a total cash, cash equivalents, short-term investments and restricted cash position of $151 million at quarter end. Signed a three-year, $40 million agreement with HCA Healthcare to refresh the existing fleet of Tablo systems across the nation’s largest health system. “Second quarter results reflect continued progress in strengthening the foundation of our business while positioning Outset for the next phase of growth,” said Leslie Trigg, Chair and Chief Executive Officer. “During the quarter, we completed our highest number of successful new site installations in several years. We also signed our first refresh agreement, which enhances backlog visibility and marks an important milestone as we begin to capitalize on a significant refresh opportunity. By reshaping how dialysis care is delivered across a large market that needs better solutions, Outset is well positioned to accelerate adoption, drive long-term growth and advance toward profitability.” Second Quarter 2026 Financial Results Revenue for the second quarter was $31.6 million, an increase of 1% compared to $31.4 million in the second quarter of 2025. Product revenue of $21.9 million decreased 5% from $23.1 million in the second quarter of 2025. Service and other revenue of $9.7 million increased 17% compared to $8.3 million in the second quarter of 2025. Recurring revenue from the sale of Tablo cartridges and service was $22.1 million, compared to $22.5 million in the prior-year period. Gross profit of $13.3 million increased 12% from $11.9 million in the second quarter of 2025. Gross margin was 42.0%, compared to 37.8% in the second quarter of 2025. On a non-GAAP basis, gross margin reached 42.2%, as compared to 38.4% in the second quarter of 2025. Product gross profit was $10.1 million, compared to $11.3 million in the second quarter of 2025. Product gross margin was 46.1%, compared to 48.9% in the second quarter of 2025. Service and other gross profit was $3.2 million, compared to $0.6 million in the second quarter of 2025. Service and other gross margin was 32.6%, compared to 6.9% in the second quarter of 2025. Operating expenses of $29.0 million were roughly even with the prior-year period. Research and development (R&D) expenses were $5.5 million, sales and marketing (S&M) expenses were $12.2 million, and general and administrative (G&A) expenses were $11.4 million. This compared to operating expenses of $28.7 million in the second quarter of 2025, including R&D expenses of $5.3 million, S&M expenses of $14.3 million, and G&A expenses of $9.2 million. Excluding stock-based compensation expense and litigation charges, non-GAAP operating expenses were $25.8 million, including R&D expenses of $4.9 million, S&M expenses of $11.7 million, and G&A expenses of $9.2 million. Net loss was $18.0 million compared to net loss of $18.5 million for the same period in 2025. On a non-GAAP basis, net loss was $14.7 million, which is relatively consistent with the same period in 2025. Total cash, including restricted cash, cash equivalents and short-term investments, was $151.0 million as of June 30, 2026. 2026 Financial Guidance Outset reiterated its 2026 revenue guidance of $125 million to $130 million, a 5% to 9% increase over $119.5 million in 2025. The Company continues to expect non-GAAP gross margin to range between the low-40% to mid-40% range for the full year. Conference Call Details Outset will host a conference call today, August 6, 2026, at 1:30 p.m. PT / 4:30 p.m. ET to discuss second quarter results. Those interested in accessing the live or archived version of the conference call can visit the “Investors” section of the Outset Medical website at https://investors.outsetmedical.com. Those interested in participating in the call via telephone may register online here. Once registered, participants will receive a dial-in number and unique PIN to join the call. Participants are encouraged to register more than 15 minutes before the start of the call. Use of Non-GAAP Financial Measures The Company may report non-GAAP results for gross profit/loss, gross margin, operating expenses, operating margins, net income/loss, basic and diluted net income/loss per share, other income/loss, and cash flows. These non-GAAP financial measures are in addition to, and not a substitute for or superior to, financial measures calculated in accordance with GAAP. As listed in the itemized reconciliations between GAAP and non-GAAP financial measures included in this press release, the Company’s GAAP financial measures include stock-based compensation expense and litigation charges incurred outside of the ordinary course of business in connection with the stockholder class action and relative derivative lawsuits, as disclosed in the Company’s latest annual and quarterly reports. Stock-based compensation is a non-cash expense. In addition, litigation charges related to the above-described matters are excluded because they constitute non-routine litigation costs, arise outside of the ordinary course of the Company’s business, and are not indicative of its recurring operating results or underlying performance trends. As such, management has excluded the effects of these items in non-GAAP measures to assist investors in analyzing and assessing past and future operating performance and period-to-period comparisons. There are limitations related to the use of non-GAAP financial measures because they are not prepared in accordance with GAAP, may exclude significant expenses required by GAAP to be recognized in the Company’s financial statements, and may not be comparable to non-GAAP financial measures used by other companies. The Company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between GAAP and non-GAAP results are presented in Appendix A of this press release. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are based on management’s current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations or financial performance, and actual results and other events may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements include, but are not limited to, statements about the Company’s possible or assumed future results of operations and financial position, including expectations regarding projected revenues, gross margin, operating expenses, capital expenditures, cash use, cash burn, cash position, profitability and outlook; statements about the sufficiency of the Company’s cash balances through cash-flow breakeven; statements regarding the anticipated impacts and benefits of the Company’s cost reduction actions, initiatives to optimize the commercial organization and improve forecasting and order visibility, and restructurings; statements regarding anticipated customer orders, refreshes, expansions or other business opportunities, including the expected closing, timing, size, scope and benefits thereof; statements regarding the Company’s overall business strategy, plans and objectives of management; statements regarding the anticipated launch and timing of product enhancements and new features, as well as new or expanded services, and the expected benefits, performance, and impact thereof; the Company’s expectations regarding the market sizes and growth potential for Tablo and the total addressable market opportunities for Tablo; continued execution of the Company’s initiatives designed to expand gross margins; the Company’s ability to respond to and resolve any reports, observations or other actions by the Food and Drug Administration or other regulators in a timely and effective manner; as well as the Company’s expectations regarding the impact of macroeconomic factors (including changes in tariff or trade laws and policies) on the Company, its customers and suppliers. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Factors that could cause actual results or other events to differ materially from those contemplated in this press release can be found in the Risk Factors section of the Company’s public filings with the Securities and Exchange Commission, including its latest annual and quarterly reports. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements speak only as of their date and, except to the extent required by law, the Company undertakes no obligation to update these statements, whether as a result of any new information, future developments or otherwise. About Outset Medical, Inc. Outset is a medical technology company transforming the dialysis experience across the continuum of care with a first-of-its-kind technology. The Tablo® Hemodialysis System, FDA-cleared for use from hospital to home, is trusted by more than 1,000 U.S. healthcare facilities and has enabled millions of treatments delivered by thousands of nurses. Designed to reduce the cost and complexity of dialysis, Tablo combines water purification and on-demand dialysate production into a single, integrated system that connects seamlessly with Electronic Medical Record systems and a proprietary data analytics platform. This enterprise solution empowers providers to develop an in-house dialysis program where they are in control – enabling better operational, clinical, and financial outcomes. Outset is redefining what’s possible in kidney care through innovation, scale, and a relentless commitment to improving the lives of patients and the professionals who care for them. For more information, visit www.outsetmedical.com. Investor [email protected]

HCA Healthcare delivered solid results in the second quarter, with revenue and earnings per share both ahead of Wall Street expectations. The positive market reaction reflected management’s ability to navigate significant headwinds, particularly an unexpected increase in uninsured patient volumes following the expiration of enhanced premium tax credits. CEO Samuel N. Hazen highlighted that while overall patient demand remained robust—especially for emergency services—unfavorable payer mix shifts put pressure on margins as more patients migrated from insurance exchanges to uninsured status. Hazen noted, “Adjusted admissions for patients who were formerly covered by the health insurance exchanges declined by 15%,” with nearly all of those patients becoming uninsured. Is now the time to buy HCA? Find out in our full research report (it’s free). Revenue: $20.23 billion vs analyst estimates of $19.76 billion (8.7% year-on-year growth, 2.4% beat) EPS (GAAP): $7.62 vs analyst estimates of $7.46 (2.2% beat) Adjusted EBITDA: $4.03 billion vs analyst estimates of $4.00 billion (19.9% margin, 0.6% beat) EPS (GAAP) guidance for the full year is $29.60 at the midpoint, missing analyst estimates by 1.2% EBITDA guidance for the full year is $15.75 billion at the midpoint, in line with analyst expectations Operating Margin: 15.3%, in line with the same quarter last year Market Capitalization: $85.69 billion While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Ben Hendrix (RBC Capital Markets) asked about the variables behind the increased estimate for exchange headwinds and how management’s confidence in those judgments has evolved. CFO Michael A. Marks explained the updated guidance reflects the company’s experience in the first half, specifically that nearly all patients losing exchange coverage became uninsured, which was a bigger driver than initially assumed. Albert Rice (UBS) inquired about the drivers behind declines in elective surgeries and whether deferred procedures might rebound later in the year. CEO Samuel N. Hazen attributed most of the softness to affordability challenges and loss of coverage, but noted emergent surgery volumes remained stable, and it remains uncertain if postponed cases will materialize later. Ann Hynes (Mizuho Securities) pressed for details on capital allocation and competitive positioning amid changing service mix. Hazen detailed ongoing investments in both inpatient and outpatient capacity, emphasizing stable to growing market share in core geographies and the need for flexibility to respond to local competition. Brian Tanquilut (Jefferies) asked about cost trends and the impact of resiliency programs. Marks noted that overall cost per admission was flat year-over-year, with progress in containing professional fees, though anesthesia and radiology costs remain above inflation. Kevin Fischbeck (Bank of America) questioned the specific components behind the full-year EBITDA guidance reduction. Marks clarified that moderation in overall growth rates, especially from the payer mix shift, drove the adjustment, bringing guidance closer to HCA’s long-term target range. Going forward, our analysts will be monitoring (1) the pace and impact of uninsured volume growth and its effect on payer mix, (2) the realization and durability of cost savings from HCA’s financial resiliency and digital initiatives, and (3) the execution of capacity expansions and demographic-driven demand in high-growth markets. Regulatory developments and further payer mix shifts will also be critical to watch. HCA Healthcare currently trades at $397.60, up from $376.50 just before the earnings. In the wake of this quarter, is it a buy or sell? The answer lies in our full research report (it’s free for active Edge members). ALSO WORTH WATCHING: Top 5 Momentum Stocks. The best time to own a great stock is when the market is finally noticing it. These aren’t just high-quality businesses. Something is happening with them right now. Elite fundamentals meet near-term momentum — both boxes checked at the same time. Find out which stocks our AI platform is flagging this week. See this week’s Strong Momentum stocks — FREE. Get Our Strong Momentum Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,552% between June 2020 and June 2025). Find your next big winner with StockStory today.

Tenet Healthcare Corporation THC reported second-quarter 2026 adjusted earnings per share (EPS) of $6.12, which surpassed the Zacks Consensus Estimate by 50%. The bottom line increased 52.2% year over year. Net operating revenues advanced 6.8% year over year to $5.63 billion. The top line surpassed the consensus mark by 4.4%. The strong quarterly results were driven by strong same-facility revenue growth, higher patient acuity, disciplined expense management and higher Medicaid supplemental revenues. However, the gains were partly offset by an unfavorable payer mix due to lower exchange admissions. Tenet Healthcare Corporation price-consensus-eps-surprise-chart | Tenet Healthcare Corporation Quote Adjusted net income of $514 million climbed 39.3% year over year. Adjusted EBITDA rose 16.3% year over year to $1.3 billion, supported by strong same-facility revenue growth and disciplined expense management despite an unfavorable payer mix stemming from lower exchange admissions. The figure also exceeded our estimate of $1.1 billion. Adjusted EBITDA margin improved 190 basis points year over year to 23.2%. Salaries, wages and benefits increased 3.3% year over year to $2.2 billion in the second quarter, while supply costs rose 5.6% and net other operating expenses increased 4.9%. Ambulatory Care: The segment’s net operating revenues climbed 9.3% year over year to $1.4 billion in the quarter, driven by strong growth in consolidated same-facility net patient service revenues, contributions from facility acquisitions and an expansion of service lines. The metric topped our estimate by 1.4%. Adjusted EBITDA was $542 million, which advanced 8.8% year over year. The metric topped our estimate by 6.6%. Adjusted EBITDA margin contracted 20 basis points year over year to 39.0%. Hospital Operations and Services: The segment recorded net operating revenues of $4.2 billion, which increased 6% year over year, driven by higher adjusted admissions and increased acuity, partly offset by an unfavorable payer mix. The metric beat our model estimate by 5%. Adjusted EBITDA rose 22.3% year over year to $762 million in the quarter, driven by strong same-facility revenue growth, disciplined expense management and higher Medicaid supplemental revenues. Adjusted EBITDA margin improved 240 basis points year over year to 18.0%. Tenet Healthcare exited the second quarter with cash and cash equivalents of $2.2 billion, which declined from the 2025-end level of $2.9 billion. Total assets of $30.7 billion rose from the 2025-end figure of $29.7 billion. Long-term debt, net of the current portion, amounted to $13.1 billion, down marginally from the level as of Dec. 31, 2025. The current portion of long-term debt totaled $160 million. Total shareholders’ equity of $4.7 billion increased from the 2025-end level of $4.2 billion. THC generated $585 million of net cash from operations, down 37.5% year over year. Free cash flows decreased 43.9% year over year to $417 million in the quarter. THC repurchased 5.7 million common shares for approximately $1 billion in the second quarter of 2026. The board of directors authorized a $2 billion increase to the company's share repurchase program. As of July 23, 2026, it had approximately $2.1 billion remaining under its share repurchase authorization. Net operating revenues are projected to be in the range of $21.9-$22.5 billion, up from the prior guidance of $21.5-$22.3 billion and $21.3 billion reported in 2025. Hospital segment revenues are expected to be in the band of $16.4-$16.8 billion, up from the previous outlook of $16.0-$16.6 billion. The Ambulatory Care segment's revenue guidance remains unchanged at $5.5-$5.7 billion. Adjusted EBITDA is now expected to be between $4.83 billion and $5.03 billion, up from the prior guidance of $4.485-$4.785 billion and $4.566 billion reported in 2025. The company also raised its adjusted EBITDA margin outlook to 22.1-22.4% from the previous 20.9-21.5%. At the midpoint, the revised guidance implies an improvement over the 2025 margin of 21.4%. Adjusted EPS for 2026 is now anticipated to be in the range of $20.30-$21.69, up from the earlier guidance of $16.38-$18.68. Net cash provided by operating activities is now expected to be between $3.84 billion and $4.29 billion, while free cash flow is projected to be in the range of $3.14-$3.49 billion. Capital expenditures are estimated to remain between $700 million and $800 million. Tenet Healthcare currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Here are some stocks from the broader Medical space that have also reported their quarterly results: HCA Healthcare, Inc. HCA, Elevance Health, Inc. ELV and UnitedHealth Group Incorporated UNH. Here's how they performed: HCA Healthcare reported second-quarter 2026 adjusted earnings per share of $7.59, which beat the Zacks Consensus Estimate of $7.57. The bottom line advanced 11% year over year. Revenues rose 8.7% year over year to $20.2 billion. The top line was in line with the Zacks Consensus Estimate. HCA’s quarterly results benefited from increased same-facility admissions, solid revenue per equivalent admission and strong emergency room visit growth. However, declining inpatient and outpatient surgeries, along with elevated operating expenses, partially offset these positives. Elevance Health reported second-quarter 2026 adjusted earnings per share of $7.45, which surpassed the Zacks Consensus Estimate by 20.6%. However, the bottom line declined 15.7% year over year. Operating revenues advanced 0.8% year over year to $49.8 billion. The top line beat the consensus mark by 2.9%. ELV’s quarterly results were primarily driven by higher premium yields in the Health Benefits segment and increased CarelonRx product revenues. The gains were partly offset by a decline in overall medical membership and higher operating expenses. UnitedHealth Group reported second-quarter 2026 adjusted earnings per share of $6.38, which beat the Zacks Consensus Estimate of $4.94. The bottom line rose 56.4% year over year. Revenues rose 0.4% year over year to $112 billion. The top line beat the consensus mark by 1.7%. UNH’s strong quarterly results were aided by growth in commercial fee-based membership and the strength witnessed in Optum Insight. Medical cost management, pricing discipline and benefit design changes also contributed to the upside. However, weaker performance at Optum Health and Optum Rx, along with declining risk-based membership, partially offset these gains. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tenet Healthcare Corporation (THC) : Free Stock Analysis Report UnitedHealth Group Incorporated (UNH) : Free Stock Analysis Report HCA Healthcare, Inc. (HCA) : Free Stock Analysis Report Elevance Health, Inc. (ELV) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in HCA Healthcare, Inc.? Here are five stocks we like better. HCA raised its 2026 outlook after second-quarter demand remained solid, with diluted EPS up 11% and admissions and ER visits still growing. However, the company said the loss of exchange coverage is sending far more patients than expected into the uninsured population, creating a bigger-than-planned hit to adjusted EBITDA. The exchange-related payer mix shift was a major pressure point, causing an estimated $400 million unfavorable EBITDA impact in Q2 and prompting full-year 2026 guidance for a $1.0 billion to $1.2 billion EBITDA headwind. HCA now expects nearly all patients losing exchange coverage to become uninsured, rather than moving to other coverage. Medicaid supplemental payment programs helped offset some of the pressure, with about $400 million of incremental net benefit in the quarter, while HCA continues to invest heavily in growth. The company has approved more than $7 billion in capital spending over the next three years, including more beds, hospitals, and outpatient facilities. Healthcare Added 35,200 Jobs—3 Stocks Positioned to Benefit HCA Healthcare (NYSE:HCA) said its second-quarter performance reflected solid demand in several service lines and 11% growth in diluted earnings per share, but the company faced increased financial pressure as patients losing health insurance exchange coverage shifted largely into the uninsured population. Chief Executive Officer Sam Hazen said the expiration of enhanced premium tax credits at the end of 2025 led more patients to lose exchange coverage than the company had anticipated. While HCA expected some individuals to move to other coverage options, Hazen said patients instead migrated “almost one for one” to uninsured status while continuing to require hospital care. → Could Truth API Become Trump Media’s First Meaningful Revenue Driver? The Aging of America Could Make HCA Healthcare a Long-Term Winner “The effects, as expected, were that many people became uninsured and still needed emergency care from hospitals,” Hazen said. He added that the impact in the first half of 2026 was greater than the company’s original estimates. Same-facility equivalent admissions among patients covered through health insurance exchanges declined 15% in the second quarter and year to date, according to Chief Financial Officer Mike Marks. Equivalent admissions among insured patients excluding exchange plans increased 3.2% in the second quarter, while total uninsured equivalent admissions rose 15%. → GE Vernova Just Sent a Mixed AI Signal to Investors This ETF Is Proof That the Healthcare Rebound Is Real Marks said the exchange-related payer mix shift created an approximately $400 million unfavorable impact on adjusted EBITDA in the second quarter. That figure included about $75 million tied to a higher estimate of the first-quarter exchange impact. The company now expects the full-year adjusted EBITDA impact from health insurance exchange changes to range from negative $1 billion to negative $1.2 billion. Marks said the updated outlook reflects the company’s conclusion that nearly all patients losing exchange coverage are becoming uninsured, compared with its prior assumption that 80% to 85% would do so. HCA also said its original expectation that uninsured patients would use fewer healthcare services did not materialize. → D-Wave Quantum or a Quantum ETF: Which Is the Better Bet? Three divisions—Gulf Coast, North Florida and South Atlantic—accounted for about half of the companywide exchange-related impact. Hazen said exchange adjusted admissions in those divisions declined between 25% and 28% in the first half. HCA revised its full-year 2026 guidance to: Revenue of $77 billion to $79.5 billion. Adjusted EBITDA of $15.4 billion to $16.1 billion. Net income attributable to HCA Healthcare of $6.3 billion to $6.7 billion. Diluted earnings per share of $28.70 to $30.50. Marks said the revised outlook is more consistent with HCA’s long-term adjusted EBITDA growth target of 4% to 6%, following moderation from the company’s 2025 growth rate and its initial 2026 assumptions. The company recognized approximately $400 million of incremental net benefit from Medicaid supplemental payment programs during the second quarter. That included a $540 million incremental net benefit related to a recently approved Florida program covering the period from Oct. 1, 2024, through June 30, 2026, or 21 months. The Florida benefit was partly offset by retroactive payments received in the second quarter of 2025. HCA’s annual guidance assumes a net Medicaid supplemental-payment benefit of $300 million to $500 million, but Marks said the outlook implies a $100 million to $300 million headwind in the second half because prior program approvals and retroactive payments are expected to exceed the incremental benefit from the Florida program. Hazen described Medicaid supplemental programs as important to supporting access to care for Medicaid patients, particularly as hospitals provide more uncompensated care to uninsured patients. Same-facility admissions increased 2.5% in the second quarter, while equivalent admissions rose 2.7%. Emergency room visits increased 3.6%, with cardiac procedures and rehabilitation volumes also contributing to demand. However, inpatient surgeries declined 2.3% and outpatient surgeries fell 3.4%. Hazen attributed much of the decline to reduced demand for elective procedures, including patients previously covered through exchange plans. He also cited physician feedback regarding affordability pressures affecting patients and the effect of Medicare inpatient rule changes that have shifted some cases from inpatient to outpatient settings. Emergency inpatient surgeries, which account for about two-thirds of HCA’s inpatient surgical cases, increased 2% year over year through the first six months. By contrast, elective inpatient surgeries were down 6% this year, compared with a 2% decline in the prior year. Despite the surgical weakness, Hazen said the company remains encouraged by demand and continues to expect long-term demand growth of 2% to 3%, supported by population growth and market trends in its communities. HCA has approved more than $7 billion of capital spending expected to come online over the next three years. The investments include 1,000 to 1,200 additional inpatient beds, new hospitals in certain markets, and additional outpatient facilities. Hazen said the company had approximately 42,000 beds currently in operation, up from roughly 37,000 at the end of 2018. Occupancy increased to 75% from 71% over that period. HCA also had 5% more outpatient sites of care in the second quarter than a year earlier and expects another 250 to 300 outpatient facilities in its capital or acquisition pipeline to open later this year or early next year. The company spent $1.2 billion on capital expenditures during the quarter, repurchased $2.1 billion of shares and paid $171 million in dividends. Cash flow from operations was $2.3 billion, down 45% year over year, primarily because of the timing of Florida Medicaid supplemental-payment cash flows and the prior-year deferral of federal income tax payments. HCA maintained its planned 2026 capital expenditure range of $5 billion to $5.5 billion and said it currently expects to complete most of its existing share-repurchase authorization, subject to market conditions and other factors. On costs, Marks said same-facility cost per equivalent admission, including the effect of Medicaid supplemental payment programs, was essentially flat from a year earlier and improved 1.4% sequentially. He said HCA’s financial resiliency program—which includes digital transformation, global capabilities and expanded shared services—is intended to produce multiyear efficiency benefits. Professional fees remained elevated, rising about 8.5% year over year in the quarter, primarily due to anesthesia and radiology costs. HCA Healthcare is a for‑profit operator of healthcare facilities headquartered in Nashville, Tennessee. Founded in 1968, the company owns and operates a network of hospitals and related healthcare facilities and has grown through organic expansion and acquisitions to become a large provider of inpatient and outpatient services. The company's core activities include the operation of acute care hospitals, freestanding surgical and emergency centers, and outpatient clinics. HCA's services encompass inpatient care, surgical services, emergency medicine, diagnostic imaging and laboratory testing, and various outpatient and ambulatory care offerings. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "HCA Healthcare Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

HCA Healthcare (HCA) came out with quarterly earnings of $7.59 per share, beating the Zacks Consensus Estimate of $7.57 per share. This compares to earnings of $6.84 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +0.26%. A quarter ago, it was expected that this hospital operator would post earnings of $7.17 per share when it actually produced earnings of $7.15, delivering a surprise of -0.28%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. HCA, which belongs to the Zacks Medical Services industry, posted revenues of $20.23 billion for the quarter ended June 2026, in line with the Zacks Consensus Estimate. This compares to year-ago revenues of $18.61 billion. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. HCA shares have lost about 19.4% since the beginning of the year versus the S&P 500's gain of 8.2%. While HCA has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for HCA was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $7.13 on $19.73 billion in revenues for the coming quarter and $29.19 on $78.51 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical Services is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Teladoc (TDOC), is yet to report results for the quarter ended June 2026. The results are expected to be released on July 29. This telehealth services provider is expected to post quarterly loss of $0.24 per share in its upcoming report, which represents a year-over-year change of -26.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Teladoc's revenues are expected to be $614.69 million, down 2.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report HCA Healthcare, Inc. (HCA) : Free Stock Analysis Report Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Diluted Earnings Per Share Growth: 11% in the quarter and year-to-date. Admissions Growth: Increased 2.5% in the second quarter. Equivalent Admissions Growth: Increased 2.7% in the second quarter. Inpatient Surgeries: Decreased 2.3% in the second quarter. Outpatient Surgeries: Decreased 3.4% in the second quarter. ER Visits: Increased 3.6% in the second quarter. Net Revenue Per Equivalent Admission Growth: 6.4% in the second quarter. Adjusted EBITDA Impact from Payer Mix Shift: Unfavorable impact of approximately $400 million. Medicaid Supplemental Payment Programs Benefit: Approximately $400 million incremental net benefit in the second quarter. Capital Expenditures: $1.2 billion in the second quarter. Share Repurchases: $2.1 billion in the second quarter. Dividends Paid: $171 million in the second quarter. Cash Flow from Operations: $2.3 billion in the second quarter, a 45% decline from the prior year quarter. Revised 2026 Revenue Guidance: Between $77 billion and $79.5 billion. Revised 2026 Adjusted EBITDA Guidance: Between $15.4 billion and $16.1 billion. Revised 2026 Net Income Guidance: Between $6.3 billion and $6.7 billion. Revised 2026 Diluted EPS Guidance: Between $28.70 and $30.50. Warning! GuruFocus has detected 4 Warning Sign with UVE. Is HCA fairly valued? Test your thesis with our free DCF calculator. Release Date: July 24, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. HCA Healthcare Inc (NYSE:HCA) reported solid diluted earnings per share growth of 11% in the quarter and year-to-date. The company experienced strong demand with volume growth, particularly in emergency room visits, cardiac procedures, and rehab volumes. HCA Healthcare Inc (NYSE:HCA) has approved more than $7 billion in capital expenditures to expand capacity and facilities over the next three years. The company continues to see improvement in cost metrics through its financial resiliency program, focusing on digital transformation and operational efficiency. HCA Healthcare Inc (NYSE:HCA) maintains a strong balance sheet, with debt to adjusted EBITDA leverage in the lower half of its target range, allowing for continued investment and shareholder returns. HCA Healthcare Inc (NYSE:HCA) faced an unfavorable payer mix shift, with a significant decline in patients covered by health insurance exchanges, leading to increased uninsured volumes. The expiration of enhanced premium tax credits resulted in a greater-than-expected number of uninsured patients, impacting financial performance. Inpatient and outpatient surgeries declined, attributed to reduced demand in elective procedures and the payer mix shift. The company revised its guidance for 2026, reflecting a more moderate growth rate in adjusted EBITDA due to the challenges faced in the first half of the year. Cash flow from operations declined by 45% compared to the prior year quarter, primarily due to timing differences in cash flows related to Medicaid supplemental payment programs. Q: Can you provide more details on the increased estimate for exchange headwinds and the confidence in the $1 billion to $1.2 billion estimate? A: Michael Marks, CFO, explained that the volume declines on the exchanges were in line with original estimates, but the assumption that 80% to 85% of patients losing exchange coverage would become uninsured was incorrect. It is now closer to a one-for-one migration. This adjustment is based on data from the first half of the year and external data. The fourth quarter of 2025 showed slowing exchange volume growth, indicating the impact of exchange reforms started earlier than expected. Q: Can you elaborate on the decline in surgeries and whether this is attributed to elective procedures being deferred? A: Samuel Hazen, CEO, noted that inpatient surgeries from the emergency room, which represent two-thirds of inpatient surgeries, continue to grow. However, elective surgeries, both inpatient and outpatient, have declined, partly due to the health insurance exchange (HICS) demand. The company is investing in operating rooms and aligning with physicians to address these declines. Q: How is HCA Healthcare planning to invest the $7 billion over three years, and what is the competitive environment like? A: Samuel Hazen, CEO, stated that the investment includes adding 1,000 to 1,200 inpatient beds and expanding the outpatient network. The company is not losing competitive positioning and is gaining market share in many markets. The demographic trends in HCA's markets are positive, supporting growth and investment. Q: Can you discuss the impact of Medicaid work requirements for 2027 and potential coverage leakage? A: Michael Marks, CFO, mentioned that work requirements will impact expansion states more than non-expansion states. HCA is monitoring the proposed rule and working with states to implement supportive approaches. The company is preparing by enhancing coverage benefit support teams to help patients navigate the Medicaid application process. Q: What are the building blocks for volume growth in the revised guidance, and what changes in assumptions have been made? A: Michael Marks, CFO, explained that the revised guidance reflects moderation in growth rates compared to previous years. The company expects solid volume growth, particularly in the insured population, and improved cost trends due to the resiliency plan. The management team is confident in handling challenges and achieving the updated guidance. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

HCA Healthcare (HCA) reported $20.23 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 8.7%. EPS of $7.59 for the same period compares to $6.84 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $20.23 billion, representing no surprise. The company delivered an EPS surprise of +0.26%, with the consensus EPS estimate being $7.57. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how HCA performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Revenue per Equivalent Admission: $19,370.00 versus $18,771.14 estimated by five analysts on average. Equivalent Admissions: 1.04 billion versus the five-analyst average estimate of 1.04 billion. Admissions: 579.56 million versus the three-analyst average estimate of 579.01 million. Patient Days: 2,690.92 Days compared to the 2,713.59 Days average estimate based on two analysts. Average Length of Stay: 5 versus 5 estimated by two analysts on average. Number of hospitals: 190 versus 189 estimated by two analysts on average. Inpatient Revenue per Admission: $22,524.00 compared to the $20,251.40 average estimate based on two analysts. Equivalent Patient Days: 4.85 million versus 4.9 million estimated by two analysts on average. Licensed Beds at End of Period: 50,550 versus 50,729 estimated by two analysts on average. Number of freestanding outpatient surgery centers: 118 versus the two-analyst average estimate of 119. View all Key Company Metrics for HCA here>>> Shares of HCA have returned -2.7% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report HCA Healthcare, Inc. (HCA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research