HCA Healthcare, Inc. · HCA · Next earnings

HCA Healthcare, Inc. reports Tuesday, Jan 26, 2027

HCA reports before market open with consensus EPS at $8.15 and revenue at $20.02B. Last quarter: HCA Q3: Volume growth offsets payer-mix and Medicaid pressure

Reports Before market open83 days awayDate estimated Healthcare

What the street expects

Consensus for the coming report
Consensus EPS $8.15 Calendar consensus
Consensus revenue $20.02B Calendar consensus
Report date Jan 26, 2027 Tuesday, date estimated
Session Before market open 83 days away

Where HCA left off: FY2026 Q3

Full report

HCA Q3: Volume growth offsets payer-mix and Medicaid pressure

EPS surprise +8.6% Reported $7.22 vs $6.65
Revenue surprise +2.7% Reported $19.85B vs $19.33B
Stock move -3.3% Event window
Subsequent drift 0.0% Up to 20 sessions

Management maintained its 2027 outlook for 2%–3% volume growth and earnings roughly flat versus 2026. It also expects Medicaid supplemental-payment benefits to decline by $550–$650 million in 2027.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Further loss of exchange coverage could increase uninsured volume and pressure EBITDA.
  • Lower Medicaid supplemental payments may weigh on 2027 earnings.
  • Elective surgical demand remains soft and recovery timing is uncertain.
  • Policy changes, including HR1 work requirements and proposed 340B OPPS changes, could affect results.
  • Professional-fee inflation, particularly in radiology and anesthesiology, remains a concern.

Questions analysts left open

  • The magnitude of the exchange-related EBITDA headwind for 2027.
  • The amount of additional cost savings available from the resiliency program.
  • The effect of reduced Medicaid supplemental payments on earnings.
  • The timeline for elective-surgery volume recovery.
  • Potential effects of proposed 340B OPPS changes and the inpatient-only-list phase-out.

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Recent HCA quarters

All HCA earnings
-3.3%FY2026 Q3+1.5%FY2026 Q2-8.8%FY2026 Q1+7.1%FY2025 Q4

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q3

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.