By Robb M. Stewart


HCA Healthcare Inc. logged a drop in first-quarter profit despite a lift in revenue, as the healthcare company was squeezed by inflationary pressures on labor costs.

The company, which operates roughly 182 hospitals and about 2,300 ambulatory-care sites, said its net profit fell 11% to $1.27 billion from $1.42 billion a year earlier. On a per-share basis, earnings were flat at $4.14, missing the $4.32 consensus forecast of analysts polled by FactSet.

The results included gains on sales of facilities of $10 million, though earnings were dented by higher salaries and benefits and an increase in operating expenses for the period, the company said.

Revenue rose 6.9% to $14.95 billion from $13.98 billion, it said. Analysts had expected of $14.72 billion.

HCA said that same-facility admissions increased 2.1%, and that same-facility equivalent admissions increased 5%, compared with a year earlier.

Same-facility emergency-room visits increased 15% in the quarter, while same-facility inpatient surgeries increased 0.8% and same-facility outpatient surgeries increased 6.8%, it said.


Write to Robb M. Stewart at robb.stewart@wsj.com


(END) Dow Jones Newswires

04-22-22 0818ET