HCA Healthcare (NYSE: HCA) reported fourth-quarter earnings that exceeded analyst expectations, driving shares over 6% higher in pre-market trading.

The company posted adjusted earnings of $8.01 per share, well above the consensus estimate of $7.45. Revenue increased 6.7% year over year to $19.51 billion, though it fell short of the $19.67 billion analysts had forecast.

Same-facility admissions rose 2.4% from the prior year, while equivalent admissions increased 2.5%. Revenue per equivalent admission climbed 2.9% year over year, reflecting improved pricing trends. Adjusted EBITDA increased 10.8% to $4.11 billion, and margin expanded to 21.1% from 20.3% a year earlier.

HCA issued a bullish outlook for 2026, projecting earnings of $29.10 to $31.50 per share, well above the analyst consensus of $27.70. The company also forecast revenue of $76.5 billion to $80.0 billion, exceeding expectations of $75.74 billion.