Hospital operator HCA Holdings, Inc. (HCA) on Tuesday released preliminary third quarter financial results that fell short of analysts' expectations.
The company said it expects revenue of about $8.062 billion and earnings of $0.78 per share for the third quarter.
Analysts polled by Thomson Reuters currently expect the company to earn $0.80 per share on revenue of $8.89 billion for the third quarter.
The company also said that it plans to declare and pay a special cash dividend of $2.50 per share to shareholders during the fourth quarter. The dividend is expected to be funded through borrowings under the company's existing revolving credit facilities and/or incurrence of additional indebtedness.
The company will report its complete third quarter financial results on, or about, November 1.
Separately, HCA said that its wholly owned subsidiary, HCA Inc., proposes to offer $2 billion aggregate principal amount of senior secured notes and senior unsecured notes.
HCA Inc. plans to use the net proceeds of the offering for general corporate purposes, which may include the repayment of its existing term loan B-1 facility, due November, 2013 and the financing of a dividend to stockholders of HCA Holdings.
HCA shares are currently trading at $31.00, down 80 cents or 2.52%.
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