Key facts
- HCA Healthcare anticipates 2027 earnings to be consistent with 2026.
- Lower Medicaid payments and rising uninsured patients are expected to constrain profits.
- Third-quarter adjusted profit was $7.22 per share on revenue of $19.85 billion.
- The company expects 2026 financial results to track in the upper half of its profit forecast.
- HCA expects volume growth of 2% to 3% next year.
HCA Healthcare signaled flat earnings for 2027 on Tuesday, citing headwinds from lower Medicaid payments and a rise in uninsured patients. The hospital operator's shares fell more than 5% following the announcement. CEO Sam Hazen indicated that 2027 earnings would be consistent with 2026, with a full outlook to be provided in January. Morningstar analyst Julie Utterback noted that the outlook was below analyst estimates. Peers Tenet Healthcare and Universal Health Services also experienced stock declines.