HCA Healthcare, Inc. (NYSE:HCA) will host its Investor Day today
beginning at 8:00 a.m. CT. A team of HCA Healthcare leaders will
offer perspectives on the Company’s financial performance,
operations, and strategy to drive growth and create value.
Long-term Targets and Early Perspective on 2024
As part of Investor Day, the Company will discuss its strategic
assessment of market opportunities and capital capacity. Based on
this assessment, and subject to certain underlying assumptions, it
is currently targeting over the next five years:
- Adjusted EBITDA growth between 4% and 6%; and
- Diluted earnings per share growth between 8% and 12%.
The Company’s targeted annual growth ranges are a composite of
anticipated results over time. Actual performance in any given year
may vary from these ranges for a variety of reasons.
“While our planning process for 2024 is not complete, we
currently believe that our 2024 expectations will fall within the
targeted ranges above, after considering the resolution of disputed
claims with a commercial payer recorded in the first quarter of
2023,” said Sam Hazen, Chief Executive Officer of HCA Healthcare.
“As usual we will give more detailed guidance during our year-end
call in January.”
The long-term targets and early perspective on 2024 are based on
current plans and expectations and are subject to a number of known
and unknown uncertainties and risks, including those set forth
below in “Forward-Looking Statements.”
2023 Investor Day
The Company will stream the presentations and the management
question and answer portion of Investor Day and will make
conference materials available on its Investor Relations page
(https://investor.hcahealthcare.com/events-and-presentations/default.aspx).
Investor Day is expected to conclude at approximately 3:45 p.m. CT.
A replay will be available on the Company website beginning Friday,
November 10, 2023 at 4:00 p.m. CT.
About the Company
As of September 30, 2023, HCA operated 183 hospitals and
approximately 2,300 ambulatory sites of care, including surgery
centers, freestanding emergency rooms, urgent care centers and
physician clinics, in 20 states and the United Kingdom.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws, which involve risks and
uncertainties. Forward-looking statements include early
perspectives on the outlook for 2024 and longer-term financial
targets, as well as other statements that do not relate solely to
historical or current facts. Forward-looking statements can be
identified by the use of words like “may,” “believe,” “will,”
“expect,” “project,” “estimate,” “anticipate,” “plan,”
“initiative,” “continue” or “target.” These forward-looking
statements are based on our current plans and expectations and are
subject to a number of known and unknown uncertainties and risks,
many of which are beyond our control, which could significantly
affect current plans and expectations and our future financial
position and results of operations. These factors include, but are
not limited to, (1) changes in or related to general economic
conditions nationally and regionally in our markets, including
inflation and economic and business conditions (and the impact
thereof on the economy, financial markets and banking industry);
changes in revenues due to declining patient volumes; changes in
payer mix (including increases in uninsured and underinsured
patients); potential increased expenses related to labor, supply
chain or other expenditures; workforce disruptions; supply
shortages and disruptions; and the impact of potential federal
government shutdowns, (2) the impact of our substantial
indebtedness and the ability to refinance such indebtedness on
acceptable terms, (3) the impact of current and future federal and
state health reform initiatives and possible changes to other
federal, state or local laws and regulations affecting the health
care industry, including, but not limited to, the Patient
Protection and Affordable Care Act, as amended by the Health Care
and Education Reconciliation Act of 2010 (collectively, the
“Affordable Care Act”), additional changes to the Affordable Care
Act, its implementation, or interpretation (including through
executive orders and court challenges), and proposals to expand
coverage of federally-funded insurance programs as an alternative
to private insurance or establish a single-payer system (such
reforms often referred to as “Medicare for All”), (4) the effects
related to the implementation of sequestration spending reductions
required under the Budget Control Act of 2011, related legislation
extending these reductions and those required under the
Pay-As-You-Go Act of 2010 as a result of the federal budget deficit
impact of the American Rescue Plan Act of 2021, and the potential
for future deficit reduction legislation that may alter these
spending reductions, which include cuts to Medicare payments, or
create additional spending reductions, (5) increases in the amount
and risk of collectability of uninsured accounts and deductibles
and copayment amounts for insured accounts, (6) the ability to
achieve operating and financial targets, attain expected levels of
patient volumes and revenues, and control the costs of providing
services, (7) possible changes in Medicare, Medicaid and other
state programs, including Medicaid supplemental payment programs or
Medicaid waiver programs, that may impact reimbursements to health
care providers and insurers and the size of the uninsured or
underinsured population, (8) personnel-related capacity
constraints, increases in wages and the ability to attract, utilize
and retain qualified management and other personnel, including
affiliated physicians, nurses and medical and technical support
personnel, (9) the highly competitive nature of the health care
business, (10) changes in service mix, revenue mix and surgical
volumes, including potential declines in the population covered
under third-party payer agreements, the ability to enter into and
renew third-party payer provider agreements on acceptable terms and
the impact of consumer-driven health plans and physician
utilization trends and practices, (11) the efforts of health
insurers, health care providers, large employer groups and others
to contain health care costs, (12) the outcome of our continuing
efforts to monitor, maintain and comply with appropriate laws,
regulations, policies and procedures, (13) the availability and
terms of capital to fund the expansion of our business and
improvements to our existing facilities, (14) changes in accounting
practices, (15) developments related to COVID-19, including,
without limitation, the length and severity of COVID-19-related
impacts and the spread of virus strains with new epidemiological
characteristics; the volume of canceled or rescheduled procedures
and the volume and acuity of COVID-19 patients cared for across our
health systems; and measures we are taking to respond to COVID-19,
(16) the emergence of and effects related to pandemics, epidemics
and infectious diseases, (17) future divestitures which may result
in charges and possible impairments of long-lived assets, (18)
changes in business strategy or development plans, (19) delays in
receiving payments for services provided, (20) the outcome of
pending and any future tax audits, disputes and litigation
associated with our tax positions, (21) the impact of known and
unknown government investigations, litigation and other claims that
may be made against us, (22) the impact of actual and potential
cybersecurity incidents or security breaches, including the data
security incident disclosed in July 2023, (23) our ongoing ability
to demonstrate meaningful use of certified electronic health record
technology and the impact of interoperability requirements, (24)
the impact of natural disasters, such as hurricanes and floods,
physical risks from climate change or similar events beyond our
control, (25) changes in U.S. federal, state, or foreign tax laws
including interpretive guidance that may be issued by taxing
authorities or other standard setting bodies, (26) the results of
our efforts to use technology and resilience initiatives to drive
efficiencies, better outcomes and an enhanced patient experience,
(27) the ability of the Company to realize the assumptions
underlying its expectations for growth and (28) other risk factors
described in our annual report on Form 10-K for the year ended
December 31, 2022 and our other filings with the Securities and
Exchange Commission. Many of the factors that will determine our
future results are beyond our ability to control or predict. In
light of the significant uncertainties inherent in the
forward-looking statements contained herein, readers should not
place undue reliance on forward-looking statements, which reflect
management’s views only as of the date hereof. We undertake no
obligation to revise or update any forward-looking statements, or
to make any other forward-looking statements, whether as a result
of new information, future events or otherwise. All references to
“Company,” “HCA” and “HCA Healthcare” as used throughout this
release refer to HCA Healthcare, Inc. and its affiliates.
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INVESTOR CONTACT: Frank Morgan 615-344-2688
MEDIA CONTACT: Harlow Sumerford 615-344-1851
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