Shares of HCA Healthcare Inc. HCA,
rose 6.6% in premarket trading Tuesday after the hospital company reported that it had largely recovered from the sluggish second quarter of 2020, when many people avoided going to hospitals for care due to the COVID-19 pandemic. The company’s net income was $1.45 billion, or $4.36 per share, in the second quarter of 2021, compared to $1.08 billion, or $3.16 per share, in the second quarter of last year . The FactSet consensus for earnings per share was $3.16. Revenue rose to $14.43 billion for the quarter, up from $11.07 in the same quarter in 2020, against a FactSet consensus of $13.6 billion. This is an important quarter to watch as the most restrictive lockdown days occurred in those three months; during this time, many Americans and health care providers canceled non-emergency medical care to limit the spread of the virus. Year-over-year, HCA said the number of admissions in the same facility is up 17.5%, the number of emergency room visits in the same facility is up 40.5%, and outpatient surgeries in the same facility are up 52. up 5%. The number of admissions and outpatient surgeries also increased compared to the second quarter of 2019, although ER visits and inpatient surgeries were not. HCA has updated its guidance for 2021, with revenue of $57 billion to $58 billion and earnings per share of $16.30 to $17.10. This is above the FactSet consensus of $55.3 billion in revenue and earnings per share of $14.02. HCA’s stock is up 32.3% this year, while the broader S&P 500 SPX,
has increased by 15.2%.