Benzinga | Jul 20, 2021 08:45AM EDT

HCA Healthcare Shares Gain As Rebound In Services Demand Lift Q2 Earnings, Raises FY21 Forecast

* HCA Healthcare Inc (NYSE:HCA) shares are rising after reporting 2Q earnings that easily beat the consensus. Revenues increased to $14.4 billion, compared to $11.1 billion a year ago and ahead of the $13.61 billion consensus.

* EPS of $4.36, higher than $3.16 reported in 3Q of 2020, surpassed the estimate of $3.16.

* As vaccination programs helped moderate COVID-19-related restrictions, the hospital chain firm experienced a rebound in demand for healthcare services.

* Same facility admissions increased 17.5% Y/Y and same facility equivalent admissions increased 26.8%.

* Same facility revenue per equivalent admission increased 2.6%.

* Adjusted EBITDA totaled $3.2 billion.

* FY 2021 Guidance: The Company raised revenue outlook to $57.0 to $58.0 billion from $54.0 to $55.5 billion guided in the Q1 earnings release, higher the consensus of $55.3 billion.

* It expects adjusted EBITDA of $12.10 to $12.50 billion higher than $10.85 to $11.35 billion guided earlier.

* HCA sees EPS of $16.30 to $17.10 compared to $13.30 to $14.30 previously guided vs. $14.08 estimate.

* HCA declared a quarterly dividend of $0.48 per share payable on September 30, with a record date of September 16.

* Price Action: HCA shares are up 5.6% at $230 during the premarket session on the last check Tuesday.