HCA Holdings, Inc. announced consolidated earnings results for fourth quarter and full year ended December 31, 2017. For the quarter, the company reported Revenues of $11,562 million against revenues of $10,641 million a year ago. Fourth quarter revenue growth was primarily driven by an increase of 2.3% in same facility equivalent admissions and an increase of 3.5% in same facility revenue per equivalent admission compared to the fourth quarter of 2016. Same facility admissions increased 1.4% in the fourth quarter of 2017 compared to the prior year period while same facility emergency room visits increased 3.4% in the fourth quarter of 2017 compared to the prior year period. Income before income taxes was $1,377 million against income before income taxes of $1,565 million a year ago. Net income was $641 million against net income of $1,085 million a year ago. Net income attributable to company was $474 million against $920 million a year ago. Diluted earnings per share were $1.3 against diluted earnings per share of $2.39 a year ago. Adjusted EBITDA was $2,362 million against $2,206 million a year ago. Results for the fourth quarter of 2017 include a non-cash increase in the company's provision for income taxes of $301 million, or $0.83 per diluted share, related to the estimated impact of the Tax Cuts and Jobs Act on deferred tax assets and liabilities. Cash flow from operations was $1.734 billion compared to $1.699 billion last year.

For the period, the company reported Revenues of $43,614 million against revenues of $41,490 million a year ago. Income before income taxes was $4,381 million against income before income taxes of $4,810 million a year ago. Net income was $2,743 million against net income of $3,432 million a year ago. Net income attributable to company was $2,216 million against $2,890 million a year ago. Diluted earnings per share were $5.95 against $7.3 a year ago. Net cash provided by operating activities of $5,426 million against net cash provided by operating activities of $5,653 million a year ago. Purchase of property and equipment of $3,015 million against purchase of property and equipment of $2,760 million a year ago. Adjusted EBITDA was $8,233 million against $8,218 million a year ago. Results for the year ended December 31, 2017 include a non-cash increase in the Company's provision for income taxes of $301 million, or $0.81 per diluted share, related to the estimated impact of the Tax Cuts and Jobs Act on deferred tax assets and liabilities. This estimate may be refined as further information becomes available. Results for the year ended December 31, 2017 also include gains on sales of facilities of $8 million, or $0.01 per diluted share, and losses on retirement of debt of $39 million, or $0.06 per diluted share.

For the year ending December 31, 2018, the company expects revenues will be in the range of $45.0 billion to $46.0 billion, adjusted EBITDA will be in the range of $8.45 to $8.75 billion, diluted EPS will be in the range of $8.50 to $8.75, capital expenditures will be approximately $3.5 billion. As a result of the recent passage of the Tax Cuts and Jobs Act, the company currently estimates the effective tax rate in 2018 to be 25% and estimate that the reduction in cash taxes in 2018 to be approximately $500 million. The company anticipates cash flow from operations between $6.2 billion and $6.5 billion. The company estimates depreciation and amortization to be approximately $2.2 billion and interest expense to be approximately $1.8 billion.