By Robb M. Stewart


HCA Healthcare Inc. scaled back its full-year targets after the hospital operator's first-quarter profit was dented by higher-than-expected inflationary pressures on labor costs.

HCA said it now expects net income of between $4.95 billion and $5.34 billion for the full year, compared with earlier guidance for income of $5.55 billion to $5.835 billion.

It forecast earnings of $16.40 to $17.60 a share, down from an earlier target of $18.40 to $19.20.

Revenue for 2022 is now expected to be $59.5 billion to $61.5 billion, against prior guidance for revenue of $60 billion to $62 billion, the company said.

HCA, which operates roughly 182 hospitals and about 2,300 ambulatory-care sites, said its net profit fell 11% to $1.27 billion in the first quarter from $1.42 billion a year earlier. Revenue for the quarter rose 6.9% to $14.95 billion from $13.98 billion.


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


(END) Dow Jones Newswires

04-22-22 0819ET