(MENAFN- Baystreet.ca) HCA Healthcare Inc (NYSE:HCA) issued strong revenue forecast for the third quarter. The company said it expects revenue to increase to $13.30 billion versus $12.69 billion in the year-ago period. Analysts project revenue of $12.67 billion for the quarter. The company also announced plans to return around $6 billion in CARES Act funding.
Results for the third quarter of 2020 include a reversal of $822 million in government stimulus income recorded in the second quarter of 2020 related to general distribution funds received from the Provider Relief Fund established by the CARES Act. Results for the third quarter of 2019 included losses on retirement of debt of $211 million.
Adjusted EBITDA for the third quarter of 2020 is expected to approximate $2.030 billion compared to $2.285 billion in the previous year's third quarter. Adjusted EBITDA is a non-GAAP financial measure.
Same facility admissions for the third quarter of 2020 are expected to decline 4%, and same facility equivalent admissions are expected to decline 9%, when compared to the third quarter of 2019. Same facility emergency room visits for the third quarter of 2020 are expected to decline 20% from the prior year's third quarter.
Same facility revenue per equivalent admission is expected to increase approximately 15% in the third quarter of 2020 compared to the prior year's third quarter due to increases in acuity for patients treated and favorable payer mix during the quarter.
HCA Healthcare anticipates reporting its complete financial and operating
HCA shares grabbed $4.36, or 3.3%, to $136.19.
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