HCA Holdings, Inc. (HCA) has reported a 5.04 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $659 million, or $1.74 a share in the quarter, compared with $694 million, or $1.69 a share for the same period last year.
Revenue during the quarter grew 3.54 percent to $10,623 million from $10,260 million in the previous year period. Total expenses were 86.12 percent of quarterly revenues, up from 85.39 percent for the same period last year. That has resulted in a contraction of 73 basis points in operating margin to 13.88 percent.
Operating income for the quarter was $1,475 million, compared with $1,499 million in the previous year period.
For financial year 2017, HCA Holdings, Inc. expects revenue to be in the range of $43,000 million to $44,000 million. It projects diluted earnings per share to be in the range of $7.20 to $7.60 for the same period.
Operating cash flow declines
HCA Holdings, Inc. has generated cash of $1,280 million from operating activities during the quarter, down 8.51 percent or $ 119 million, when compared with the last year period.
The company has spent $669 million cash to meet investing activities during the quarter as against cash outgo of $496 million in the last year period.
The company has spent $504 million cash to carry out financing activities during the quarter as against cash outgo of $792 million in the last year period.
Cash and cash equivalents stood at $753 million as on Mar. 31, 2017, down 11.62 percent or $99 million from $852 million on Mar. 31, 2016.
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