Hca Healthcare Inc (HCA)

Shares of HCA Healthcare (HCA) dropped by 4.49% from $240.94 to $230.12 in the trading on Tuesday, October 24, 2023. The reason why HCA stock down is due to the company's lower-than-expected Q3 results:

• Earnings: HCA reported Q3 2023 revenue of $16.21 billion, which was slightly above Wall Street's consensus estimate of $15.82 billion. However, net income for the same period stood at $1.079 billion, or $3.91 per share, falling short of earnings estimates of $3.97 per share.
• FY 2023 Outlook: HCA's CEO, Sam Hazen, attributed revenue growth to strong demand for its services but acknowledged a weaker-than-expected performance from its physician staffing joint venture with Valesco, impacting consolidated results. Looking ahead to 2023, HCA narrowed its revenue and earnings guidance ranges.