HCA Healthcare, Inc. — Form 8-K
Filed July 14, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 58/100
What the filing says
HCA Healthcare lowered full-year 2026 net income guidance from $6.495–$7.035B to $6.300–$6.700B (–3.0% to –10.4%) and Adjusted EBITDA from $15.550–$16.450B to $15.400–$16.100B, citing unfavorable payer mix from uninsured patients (health insurance exchange losses expanded from $600–$900M to $1.000–$1.200B), partially offset by $400M in incremental Medicaid Supplemental Payment benefits (revised upward from $50–$250M estimate). Q2 2026 net income was $1.699B ($7.62/share, 223M diluted shares) vs. $1.653B ($6.83/share, 242M shares) in Q2 2025; revenues rose 8.7% YoY to $20.230B. The company estimates the payer mix shift cost ~$400M in Q2 alone.
Why this rating
Guidance cut (–3 to –10%) on $63.3B market-cap company represents material headwind; ~$1.2B adverse payer mix impact is 1.9% of revenue but offset by Medicaid gains. Mixed Q2 results and policy uncertainty warrant caution.
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