HCA Healthcare jumps after strong earnings and forward guidance

Noah Berger | Bloomberg | Getty Images

Ambulances are parked outside the emergency room at Good Samaritan Hospital in San Jose, California. 

HCA Healthcare shares jumped on Tuesday after the company reported third-quarter earnings and revenue that beat Wall Street’s expectations.

The Nashville-based hospital behemoth also raised its earnings and revenue guidance for 2018.

The stock was up as much as 3 percent in premarket trading before trimming some of those gains.

HCA reported third-quarter earnings of $2.15 per share on revenue of $11.45 billion. Wall Street expected earnings of $1.89 per share on revenue of $11.29 billion, according to FactSet.

The company expects revenue for the year to be between $46 billion and $47 billion. Earnings per share is expected to be between $9.05 and $9.45 per share.

The hospital operator, which specializes in trauma and surgical centers, has been aggressively expanding its ambulatory footprint and has purchased a string of hospitals in recent years, offsetting the slow down in admissions.