HCA Healthcare, Inc. (NYSE:HCA) Q1 2024 Earnings Conference Call April 26, 2024 10:00 AM ET
Company Participants
Frank Morgan - VP, IR
Sam Hazen - CEO
Bill Rutherford - CFO
Conference Call Participants
A.J. Rice - Credit Suisse
Ann Hynes - Mizuho
Pito Chickering - Deutsche Bank
Whit Mayo - Leerink Partners
Brian Tanquilut - Jefferies
Ben Hendrix - RBC Capital Markets
Gary Taylor - TD Cowen
Justin Lake - Wolfe Research
Andrew Mok - Barclays
Kevin Fischbeck - Bank of America
Stephen Baxter - Wells Fargo
Jason Cassorla - Citi
Lance Wilkes - Bernstein
Joshua Raskin - Nephron Research
Sarah James - Cantor Fitzgerald
Cal Sternick - J.P. Morgan
Operator
Welcome to the HCA Healthcare First Quarter 2024 Earnings Conference Call. Today's call is being recorded.
At this time, for opening remarks and introductions, I would like to turn the call over to Vice President of Investor Relations, Mr. Frank Morgan. Please go ahead, sir.
Frank Morgan
Good morning, and welcome to everyone on today's call. With me this morning is our CEO, Sam Hazen; and CFO, Bill Rutherford. Sam and Bill will provide some prepared remarks, and then we will take questions.
Before I turn the call over to Sam, let me remind everyone that should today's call contain any forward-looking statements that are based on management's current expectations. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those that might be expressed today. More information on forward-looking statements and these factors are listed in today's press release and in our various SEC filings.
On this morning's call, we may reference measures such as adjusted EBITDA, which is a non-GAAP financial measure. A table providing supplemental information on adjusted EBITDA and reconciling net income attributable to HCA Healthcare is included in today's release. This morning's call is being recorded and a replay of the call will be available later today.
With that, I'll now turn the call over to Sam.
Sam Hazen
All right. Frank, thank you. Good morning to everybody and thank you for joining the call.
The positive fundamentals we saw in our business this past year continued into the first quarter of 2024. This momentum generated strong financial results that were driven by broad-based volume growth, improved payer mix, and solid operating margins.
As we look to the rest of the year, we remain encouraged by our performance, the overall backdrop of growing demand for our services, and our enhanced ability across our networks to serve our communities. The people of HCA Healthcare continue to deliver for our patients with improvements in key non-financial metrics, including improved quality outcomes, more efficient process measures in emergency room services, which have accelerated time to discharge and increase satisfaction, and finally, better inpatient capacity management with reduced length of stay and increased acceptance of patients who needed to be transferred to our hospitals.