Financial Results and CFO Announcement from HCA Healthcare, Inc. for Fourth Quarter and Full Year 2023
HCA Healthcare, Inc. has announced the retirement of Bill Rutherford, the Executive Vice President and Chief Financial Officer (CFO), after a successful 34-year career with the company. Mike Marks, the current Senior Vice President of Finance, will be stepping into the role of Executive Vice President and CFO, effective May 1, 2024.
The company also reported its financial and operating results for the fourth quarter ended December 31, 2023. Key metrics for the quarter included revenues totaling $17.303 billion, net income of $1.607 billion, adjusted EBITDA of $3.618 billion, and cash flows from operating activities of $2.674 billion. Same facility admissions and equivalent admissions saw increases, and revenue per equivalent admission also rose.
For the full year of 2023, revenues totaled $64.968 billion, with net income of $5.242 billion. Adjusted EBITDA for the year was $12.726 billion. The company’s balance sheet showed cash and cash equivalents of $935 million, total debt of $39.593 billion, and total assets of $56.211 billion as of December 31, 2023.
Looking ahead to 2024, HCA Healthcare provided estimated guidance, including revenues in the range of $67.75 to $70.25 billion, net income of $5.20 to $5.60 billion, adjusted EBITDA of $12.85 to $13.55 billion, and earnings per diluted share of $19.70 to $21.20.
The company also announced a new share repurchase program for up to $6 billion of its outstanding common stock and declared a quarterly cash dividend of $0.66 per share on the Company’s common stock.
HCA Healthcare will be hosting a conference call for investors to discuss these results and future plans. The company operates 186 hospitals and approximately 2,400 ambulatory sites of care in 20 states and the United Kingdom.
The news of Bill Rutherford’s retirement and Mike Marks’ appointment as CFO comes as the company continues to show strong financial performance and strategic growth in the healthcare industry.