HCA Healthcare (HCA) – Get Report was rising Friday after the hospital operator provided third-quarter revenue guidance that exceeded Wall Street’s expectations.
Shares of the Nashville-based company were up 2.5% to $135.10.
HCA said it expects revenue to roughly total $13.3 billion, up from $12.69 billion a year ago, and ahead of FactSet’s call for revenue to be flat with a year earlier.
The company said it expects income before income taxes to come to $950 million, down from $979 million a year ago.
This reflects a reversal of $822 million in government stimulus income recorded in the second quarter of 2020 related to general distribution funds under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
HCA said it will return, or repay early, about $6 billion of government assistance funds received as part of the CARES Act.
The company said had taken a conservative approach during