HCA Holdings Inc. reported fourth-quarter 2016 net income attributable to the company of $920 million, or $2.39 per share, up from $582 million, or $1.40 per share, for the fourth quarter of 2015.
The company's fourth-quarter 2016 results include gains on sales of facilities of $15 million, or 4 cents per share, and legal claim benefits of $279 million, or 46 cents per share.
HCA also recognized a $33 million tax benefit, or 9 cents per share, in the quarter related to the early adoption, during the first quarter of 2016, of a new accounting standard that requires the recording of excess tax benefits related to employee equity award settlements as a component of the provision for income taxes.
Net income attributable to the company, excluding gains on sales of facilities, losses on retirement of debt and legal claim benefits, was $729 million, or $1.89 per share, versus $701 million, or $1.69 per share, in the year-ago quarter.
The S&P Capital IQ consensus normalized EPS estimate for the quarter was $1.78.
HCA reported revenues of $10.64 billion, up from $10.25 billion in the prior-year period.
For the full year 2016, net income attributable to the company was $2.89 billion, or $7.30 per share, compared with $2.13 billion, or $4.99 per share, in 2015. Net income attributable to the company, excluding gains on sales of facilities, losses on retirement of debt and legal claim benefits, was $2.72 billion, or $6.87 per share, versus $2.38 billion, or $5.56 per share, in 2015.
The S&P Capital IQ consensus normalized EPS estimate for 2016 was $6.71.
The company expects 2017 revenues to be between $43 billion and $44 billion, with EPS in the range of $7.20 to $7.60. Adjusted EBITDA for 2017 is anticipated to be between $8.40 billion and $8.70 billion. Capital expenditures for the year are expected to be about $2.9 billion.
The S&P Capital IQ consensus normalized EPS estimate for 2017 is $7.30.