What changed
HCA delivered a strong Q3 FY26 beat, with adjusted EPS of $7.22 topping the $6.63 consensus by $0.59 (+8.9%). Revenue came in at $19.849B, up 3.6% YoY, while net income declined 3.9% to $1.579B. Management guided FY2026 GAAP EPS to $28.70–$30.50 and revenue to $77.0B–$79.5B, noting full-year results should land in the upper half of prior ranges. The quarter absorbed an estimated ~$400M unfavorable pretax impact from a payer mix shift driven by increased uninsured volume, primarily patients who lost exchange coverage.
Why it matters
HCA delivered a strong Q3 FY26 beat, with adjusted EPS of $7.22 topping the $6.63 consensus by $0.59 (+8.9%). Revenue came in at $19.849B, up 3.6% YoY, while net income declined 3.9% to $1.579B. Manag