HCA Healthcare Reports Q3 2026 Financial Results, Updates Full-Year Guidance, and Declares Dividend

Executive Summary

On October 27, 2026, HCA Healthcare, Inc. filed a Form 8-K reporting its financial and operating results for the third quarter ended September 30, 2026, under Items 2.02 and 7.01, and announcing a dividend declaration under Item 8.01.

Key Financial Highlights (Q3 2026 vs. Q3 2025)

• Revenues: $19.849 billion, up 3.6% compared to $19.161 billion in Q3 2025.
• Net Income Attributable to HCA Healthcare: $1.579 billion, down 3.9% from $1.643 billion in Q3 2025.
• Diluted EPS: $7.27 per share (up 4.5% from $6.96 in Q3 2025).
• Adjusted Diluted EPS: $7.22 per share, up 3.7% year-over-year.
• Adjusted EBITDA: $3.918 billion, an increase of 1.2% compared to $3.870 billion.
• Cash Flow from Operations: $4.461 billion compared to $4.416 billion in Q3 2025.

Operating Trends & Volume Metrics

• Same Facility Admissions: Increased 2.7%.
• Same Facility Equivalent Admissions: Increased 3.0%.
• Emergency Room Visits: Increased 5.1%.
• Surgical Volumes: Same facility inpatient surgeries declined 1.4%, and outpatient surgeries fell 3.7%.
• Payer Mix Impact: Experienced an unfavorable shift toward uninsured volumes (driven by exchange coverage losses), creating an estimated pre-tax headwind of approximately $400 million.

Capital Allocation & Guidance

• Share Repurchases: Repurchased 7.230 million shares for $2.970 billion in Q3 2026, leaving $4.240 billion remaining under authorization.
• Quarterly Cash Dividend: Declared a quarterly dividend of $0.78 per share, payable on December 29, 2026 to stockholders of record as of December 15, 2026.
• 2026 Full-Year Guidance: Management updated expectations, now forecasting full-year operating results to track in the upper half of the guidance ranges originally issued on July 14, 2026.