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Why is Hca Healthcare Inc (HCA) Stock down?
We've noticed a 8.86% decline in Hca Healthcare Inc (HCA) stock during the 2024-10-25 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
24 Oct, 2023:
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.
1.47%
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