HCA Healthcare Reports Strong Q1 2024 Performance under CEO Sam Hazen’s Leadership

HCA Healthcare, Inc. is celebrating a successful first quarter of 2024, with CEO Sam Hazen expressing optimism for the future based on the company’s strong performance.

The for-profit hospital chain reported revenues of $17.3 billion, marking an 11% increase over the same period last year. This growth was fueled by a 6.2% increase in same-hospital admissions and a 5.2% increase in same facility equivalent admissions.

Adjusted EBITDA reached $3.35 billion, up from $3.1 billion in Q1 2023, while cash flow totaled $2.4 billion and net income exceeded $1.5 billion. The company’s board of directors declared a quarterly cash dividend of $0.66 per share on common stock.

Hazen attributed the strong financial results to “broad-based volume growth” and expressed confidence in HCA’s ability to meet the growing demand for its services. The company’s balance sheet showed $1.3 billion in cash and cash equivalents, total debt of $41 billion, and total assets of $57 billion.

In addition to its strong financial performance, HCA completed the sale of West Hills Hospital and Medical Center in California to UCLA Health, generating $201 million in revenue.

With 188 hospitals and over 2,400 ambulatory care venues in 20 states and the United Kingdom, HCA Healthcare, Inc. remains a major player in the healthcare industry. The company’s continued success in the first quarter of 2024 bodes well for its future growth and stability.