Hca Holdings (HCA) has reported 37.64 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $618 million, or $1.59 a share in the quarter, compared with $449 million, or $1.05 a share for the same period last year. Revenue during the quarter grew 4.20 percent to $10,270 million from $9,856 million in the previous year period. Total expenses were 86.12 percent of quarterly revenues, down from 87.46 percent for the same period last year. This has led to an improvement of 133 basis points in operating margin to 13.88 percent.
Operating income for the quarter was $1,425 million, compared with $1,236 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $1,957 million compared with $1,815 million in the prior year period. At the same time, adjusted EBITDA margin improved 64 basis points in the quarter to 19.06 percent from 18.42 percent in the last year period.
Hca Holdings forecasts revenue to be in the range of $41,000 million to $42,000 million for fiscal year 2016. For fiscal year 2016, the company expects diluted earnings per share to be in the range of $6.50 to $6.80 on adjusted basis.
Operating cash flow improvesHca Holdings has generated cash of $3,954 million from operating activities during the nine month period, up 24.50 percent or $778 million, when compared with the last year period. The company has spent $2,234 million cash to meet investing activities during the nine month period as against cash outgo of $1,631 million in the last year period.
The company has spent $1,784 million cash to carry out financing activities during the nine month period as against cash outgo of $1,523 million in the last year period.
Cash and cash equivalents stood at $677 million as on Sep. 30, 2016, up 15.14 percent or $89 million from $588 million on Sep. 30, 2015.
Working capital increases sharply
Hca Holdings has recorded an increase in the working capital over the last year. It stood at $3,688 million as at Sep. 30, 2016, up 26.82 percent or $780 million from $2,908 million on Sep. 30, 2015. Current ratio was at 1.72 as on Sep. 30, 2016, up from 1.46 on Sep. 30, 2015.
Days sales outstanding went down to 51 days for the quarter compared with 54 days for the same period last year.
Debt moves up
Hca Holdings has witnessed an increase in total debt over the last one year. It stood at $31,441 million as on Sep. 30, 2016, up 5.68 percent or $1,689 million from $29,752 million on Sep. 30, 2015. Total debt was 94.91 percent of total assets as on Sep. 30, 2016, compared with 93.28 percent on Sep. 30, 2015. Interest coverage ratio improved to 3.30 for the quarter from 3.01 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
