HCA Holdings, Inc. (NYSE: HCA) today announced that it expects its
Adjusted EBITDA to exceed its previously issued guidance range of $7.25
to $7.35 billion for 2014. Adjusted EBITDA for 2014 is now estimated to
be approximately $7.4 billion. The Company anticipates reporting its
fourth quarter 2014 results of operations and guidance for 2015 on
February 3, 2015.
Fourth quarter 2014 results will include a $68 million increase in
Medicaid revenues related to the reversal of the Texas Medicaid Waiver
Program adjustment to reduce revenues that was recorded in the third
quarter of 2014.
Same facility admissions for the fourth quarter of 2014 are expected to
reflect an increase of approximately 5.0 percent and same facility
emergency room visits are expected to reflect an increase of
approximately 10.5 percent from the prior year’s fourth quarter.
During the fourth quarter of 2014, the Company repurchased approximately
14 million shares of its common stock, completing its previously
authorized $1.0 billion share repurchase program. The Company had
420,477,900 shares outstanding as of December 31, 2014.
The Company is scheduled to present Monday, January 12, at 8:00 am (PST)
at the J.P. Morgan Healthcare Conference held at the Westin St. Francis
Hotel in San Francisco, CA. A link to the live audio webcast is
available and copies of the related presentation materials will be
available at the Investor Relations section of the Company’s website, www.hcahealthcare.com.
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 statements that do not
relate solely to historical facts and are subject to finalization of the
Company’s fourth quarter financial and accounting procedures.
Forward-looking statements can be identified by the use of words like
“may,” “believe,” “will,” “expect,” “project,” “estimate,” “anticipate,”
“plan,” “initiative” or “continue.” 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) the
impact of our substantial indebtedness and the ability to refinance such
indebtedness on acceptable terms, (2) the effects related to the
implementation of the Patient Protection and Affordable Care Act, as
amended by the Health Care and Education Reconciliation Act
(collectively, the “Health Reform Law”), possible delays in or
complications related to implementation of the Health Reform Law, the
possible enactment of additional federal or state health care reforms
and possible changes to the Health Reform Law and other federal, state
or local laws or regulations affecting the health care industry, (3) the
effects related to the continued implementation of the sequestration
spending reductions required under the Budget Control Act of 2011 (the
“BCA”), and related legislation extending these reductions, 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, (4) increases in the amount and risk of
collectability of uninsured accounts and deductibles and copayment
amounts for insured accounts, (5) the ability to achieve operating and
financial targets, and attain expected levels of patient volumes and
control the costs of providing services, (6) possible changes in the
Medicare, Medicaid and other state programs, including Medicaid upper
payment limit programs or waiver programs, that may impact
reimbursements to health care providers and insurers, (7) the highly
competitive nature of the health care business, (8) changes in service
mix, revenue mix and surgical volumes, including potential declines in
the population covered under managed care agreements, the ability to
enter into and renew managed care provider agreements on acceptable
terms and the impact of consumer driven health plans and physician
utilization trends and practices, (9) the efforts of insurers, health
care providers and others to contain health care costs, (10) the outcome
of our continuing efforts to monitor, maintain and comply with
appropriate laws, regulations, policies and procedures, (11) increases
in wages and the ability to attract and retain qualified management and
personnel, including affiliated physicians, nurses and medical and
technical support personnel, (12) the availability and terms of capital
to fund the expansion of our business and improvements to our existing
facilities, (13) changes in accounting practices, (14) changes in
general economic conditions nationally and regionally in our markets,
(15) the emergence and effects related to infectious diseases, including
Ebola; (16) future divestitures which may result in charges and possible
impairments of long-lived assets, (17) changes in business strategy or
development plans, (18) delays in receiving payments for services
provided, (19) the outcome of pending and any future tax audits, appeals
and litigation associated with our tax positions, (20) potential adverse
impact of known and unknown government investigations, litigation and
other claims that may be made against us, (21) our ongoing ability to
demonstrate meaningful use of certified electronic health record
technology and recognize income for the related Medicare or Medicaid
incentive payments, and (22) other risk factors described in our annual
report on Form 10-K for the year ended December 31, 2013 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” and “HCA” as used throughout this release
refer to HCA Holdings, Inc. and its affiliates.
HCA Holdings, Inc.
Investor Contact:
Mark Kimbrough, 615-344-2688
or
Media Contact:
Ed Fishbough, 615-344-2810