HCA Healthcare (HCA) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and HCA Healthcare published the results on October 27, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. HCA Healthcare reports EPS two ways: GAAP, under the accounting rules every US filer follows, and as adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Revenue by payer comes from HCA Healthcare's 10-Q; the 'Other' line includes uninsured patients. HCA reports no business segments in its release.
• HCA Healthcare previewed its Q2 2026 results and revised its 2026 guidance on July 14, 2026, before the full Q2 release on July 24, 2026.

Source: HCA Healthcare Q3 2026 results, October 27, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How HCA Healthcare splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• HCA Healthcare's Medicare revenue was $2.9 billion in Q3 2026, up 7% from $2.7 billion in Q3 2025, 15% of total revenue.
• HCA Healthcare's Managed Medicare revenue was $3.5 billion in Q3 2026, up 7% from $3.3 billion in Q3 2025, 18% of total revenue.
• HCA Healthcare's Medicaid revenue was $1.8 billion in Q3 2026, down 1% from $1.8 billion in Q3 2025, 9% of total revenue.
• HCA Healthcare's Managed Medicaid revenue was $961 million in Q3 2026, up 1% from $949 million in Q3 2025, 5% of total revenue.
• HCA Healthcare's Managed care and insurers revenue was $9.6 billion in Q3 2026, up 3% from $9.3 billion in Q3 2025, 48% of total revenue.
• HCA Healthcare's International (managed care and insurers) revenue was $492 million in Q3 2026, up 2% from $484 million in Q3 2025, 2% of total revenue.
• HCA Healthcare's Other revenue was $602 million in Q3 2026, down 7% from $644 million in Q3 2025, 3% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

HCA Healthcare's release carries a 2026 forecast table: revenues of $77,000 million to $79,500 million, net income attributable to HCA Healthcare of $6,300 million to $6,700 million, Adjusted EBITDA of $15,400 million to $16,100 million and diluted EPS of $28.70 to $30.50.

In its Q3 2026 release, HCA Healthcare said:

“The Company now believes its full year operating results will be in the upper half of its 2026 estimated guidance ranges previously issued on July 14, 2026.”

Source: HCA Healthcare Q3 2026 release, Oct 27, 2026.

This is the company's own guidance as of Oct 27, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the HCA forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Revenues and GAAP diluted EPS, each as first reported in that quarter's release.

HCA Healthcare's next report is expected around January 26, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 27, 2026

HCA Healthcare's revenues were $19,849 million in Q3 2026, up 3.6% from $19,161 million. HCA attributes the increase to a 2.8% rise in equivalent admissions and a 0.7% rise in revenue per equivalent admission. At September 30, 2026 it operated 189 hospitals and about 2,600 ambulatory sites of care in 19 states and the United Kingdom. (HCA Healthcare Q3 2026 release, Oct 27, 2026; HCA Healthcare Form 10-Q, Q3 2026, Oct 29, 2026)

HCA Healthcare's largest payer class is managed care and insurers, which brought in $9,574 million, or 48.3% of revenues. Managed Medicare contributed $3,530 million (17.8%), Medicare $2,925 million (14.7%), Medicaid $1,765 million and Managed Medicaid $961 million. (HCA Healthcare Form 10-Q, Q3 2026, Oct 29, 2026)

HCA Healthcare's payer mix shifted toward uninsured patients. Same facility uninsured admissions rose 27.4% from a year earlier, after rises of 23.4% in Q2 and 15.5% in Q1, which HCA links to the expiration of enhanced premium tax credits at the end of 2025 and administrative reforms affecting insurance bought on the Exchanges. Uninsured patients were 8% of admissions against 6% a year earlier, and HCA estimates the shift cut income before income taxes by about $400 million in the quarter. (HCA Healthcare Form 10-Q, Q3 2026, Oct 29, 2026; HCA Healthcare Q3 2026 release, Oct 27, 2026)

HCA Healthcare's volumes were mixed. Same facility admissions rose 2.7% and emergency room visits 5.1%, while same facility inpatient surgeries fell 1.4% and outpatient surgeries 3.7%. The estimated cost of total uncompensated care was $1.477 billion, against $1.188 billion a year earlier. (HCA Healthcare Q3 2026 release, Oct 27, 2026; HCA Healthcare Form 10-Q, Q3 2026, Oct 29, 2026)

HCA Healthcare's 10-K notes that its facilities are heavily concentrated in Florida and Texas, two states that opted out of Medicaid expansion. (HCA Healthcare Form 10-K, 2025, Feb 10, 2026)

HCA Healthcare's GAAP diluted EPS rose 4.5% to $7.27 while net income attributable to HCA fell 3.9% to $1,579 million. The share count fell faster: diluted shares were 217.212 million, against 236.181 million a year earlier. HCA repurchased 7.230 million shares for $2.970 billion in the quarter and had $4.240 billion left under its authorization. (HCA Healthcare Q3 2026 release, Oct 27, 2026)

HCA Healthcare's EPS as adjusted, $7.22, excludes gains and losses on sales of facilities and losses on retirement of debt. In Q3 2026 that meant removing $13 million of gains on facility sales, worth $0.05 per diluted share. (HCA Healthcare Q3 2026 release, Oct 27, 2026)

HCA Healthcare's effective tax rate was 22.0%, against 21.3% a year earlier. Net income attributable to noncontrolling interests, the partners in its consolidated partnerships, was $270 million. The board declared a quarterly dividend of $0.78 per share. (HCA Healthcare Form 10-Q, Q3 2026, Oct 29, 2026; HCA Healthcare Q3 2026 release, Oct 27, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

HCA Healthcare gives full-year guidance in its release. It revised its 2026 ranges on July 14, 2026, and in the Q3 release said full year results would be in the upper half of them. The forecast table shows revenues of $77,000 million to $79,500 million, Adjusted EBITDA of $15,400 million to $16,100 million and diluted EPS of $28.70 to $30.50, on 219.500 million diluted shares. (HCA Healthcare Q3 2026 release, Oct 27, 2026)

HCA Healthcare's guidance excludes gains or losses on sales of facilities, losses on retirement of debt, legal claims costs and impairments, and the impact of future approvals of state Medicaid directed and supplemental payments. (HCA Healthcare Q3 2026 release, Oct 27, 2026)

A consensus figure is the average of the models published by the analysts who cover HCA Healthcare, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones HCA Healthcare's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning HCA is on is HCA a buy or a sell?, what analysts expect next is on the HCA forecast, and what the company does is on the HCA Healthcare (HCA) stock page.

Every number on this page can be traced to a document HCA Healthcare published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.