Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
One unitemised cost line erased the labor and supply savings
The line grew far faster than revenue's 3.59%, and its added cost outweighed cheaper labor and supplies, so pretax income fell.
For investorsWhat HCA's per-share earnings depend on from here
For foundersRunning a labor-heavy business on productivity, not price
Diluted shares fell to 217.2 million from 236.2 million, so each share earned more while HCA's own net income slipped.
This quarter matched last year's third quarter, but second-quarter cash was far lower, so no single quarter is a run rate.
Salaries and supplies both grew slower than revenue, the cost lever a large hospital operator controls most directly.
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Business Lens describes HCA Healthcare from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
