HCA Healthcare said it benefited from Florida's new Medicaid payment program in the second quarter, but is dealing with more uninsured patients.

The healthcare facility operator on Friday posted a profit of $1.70 billion, or $7.62 a share, in the second quarter, compared with $1.65 billion, or $6.83 a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were $7.59, ahead of the $7.56 anticipated by analysts, according to FactSet.

Revenue rose 9% to $20.23 billion. Analysts surveyed by FactSet forecast revenue of $19.76 billion.

Same-facility admissions increased 2.5% and same-facility emergency room visits rose 3.6%. Surgeries declined for both inpatient and outpatient.

HCA said the mix of its payers shifted during the quarter, with an increase in uninsured members primarily due to patients who lost coverage on health insurance exchanges. The company estimates the change in payer mix dented its income before income taxes by about $400 million.

At the same time, HCA recognized a roughly $400 million net benefit from Medicaid supplemental payment programs. Much of that benefit came from Florida's new payment program, which won $8 billion in additional government funds to help cover Medicaid patients treated as far back as October 2024.

From the Florida program alone, HCA recognized $1.37 billion in incremental revenue. The company now expects the annual income from Medicaid supplemental payment programs will be $300 million to $500 million. It previously expected a loss of $50 million to $250 million from the programs.

HCA now expects full-year revenue to be $77.0 billion to $79.5 billion, compared with prior guidance of $76.5 billion to $80.0 billion.

It anticipates earnings per share will be $28.70 to $30.50, compared with a previous range of $29.10 to $31.50.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

July 24, 2026 08:04 ET (12:04 GMT)

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