Highlights

  • Third quarter 2026 revenues were $19.849 billion, and net income attributable to the company was $1.579 billion, or $7.27 per diluted share.
  • HCA estimated a payer mix shift toward uninsured volume lowered third quarter income before income taxes by approximately $400 million.
  • HCA repurchased 7.230 million shares for $2.970 billion in the third quarter and declared a $0.78 quarterly dividend.
  • The company said it now believes full year 2026 operating results will be in the upper half of its guidance ranges.

HCA Healthcare, Inc. (NYSE: HCA) shares were trading at USD 442.78 on October 27, 2026, down 4.83%, with a relative volume at time of 4.29. The hospital operator reported third quarter 2026 results on October 27, including revenues of $19.849 billion, a quarterly dividend of $0.78 per share, and an update to its 2026 guidance.

HCA Healthcare is incorporated in Delaware and lists its principal executive offices at One Park Plaza in Nashville, Tennessee. As of September 30, 2026, the company operated 189 hospitals and approximately 2,600 ambulatory sites of care, including surgery centers, freestanding emergency rooms, urgent care centers and physician clinics, in 19 states and the United Kingdom.

Third Quarter Results

For the quarter ended September 30, 2026, revenues were $19.849 billion, compared with $19.161 billion in the third quarter of 2025. The company stated that revenues increased 3.6 percent. Net income attributable to HCA Healthcare, Inc. was $1.579 billion, or $7.27 per diluted share, compared with $1.643 billion, or $6.96 per diluted share, a year earlier. The company stated that net income declined 3.9 percent.

Results include gains on sales of facilities of $13 million, or $0.05 per diluted share, compared with losses on sales of facilities of $2 million in the third quarter of 2025. Diluted earnings per share, as adjusted, a non-GAAP measure, was $7.22. Adjusted EBITDA, also a non-GAAP measure, was $3.918 billion, compared with $3.870 billion.

Same facility admissions increased 2.7 percent and same facility equivalent admissions increased 3.0 percent. Same facility emergency room visits increased 5.1 percent. Same facility inpatient surgeries declined 1.4 percent and same facility outpatient surgeries declined 3.7 percent. Same facility revenue per equivalent admission increased 0.6 percent.

For the nine months ended September 30, 2026, revenues were $59.188 billion and net income attributable to HCA Healthcare, Inc. was $4.898 billion, or $22.05 per diluted share. The prior year period showed $4.906 billion, or $20.23 per diluted share.

Payer Mix, Balance Sheet and Capital

HCA said it experienced a payer mix shift during the third quarter tied to an increase in uninsured volume, primarily from patients who lost coverage on the health insurance exchanges. The company estimated the shift lowered income before income taxes by approximately $400 million. It also said growth in same facility equivalent admissions accelerated, cost results improved, and the net benefit from Medicaid Supplemental Payment Programs modestly increased.

At September 30, 2026, the balance sheet showed cash and cash equivalents of $908 million, total debt of $50.493 billion, and total assets of $63.452 billion. Cash flows from operating activities in the third quarter were $4.461 billion, compared with $4.416 billion a year earlier. Capital expenditures, excluding acquisitions, were $1.357 billion.

During the quarter, HCA repurchased 7.230 million shares of its common stock at a cost of $2.970 billion. The company had $4.240 billion remaining under its repurchase authorization and $2.226 billion of availability under its credit facility as of September 30, 2026.

Dividend and 2026 Guidance

The Board of Directors declared a quarterly cash dividend of $0.78 per share. It is payable on December 29, 2026 to stockholders as of the close of business on December 15, 2026.

HCA said it now believes its full year operating results will be in the upper half of its 2026 estimated guidance ranges previously issued on July 14, 2026. The company said guidance includes assumptions on volume growth, payer mix, service mix, health care public policy developments, including the expiration of enhanced premium tax credits, and trade policies including tariffs. It is subject to uncertainties and risks.