Exhibit 99.1

		FOR IMMEDIATE RELEASE
INVESTOR CONTACT:		MEDIA CONTACT:
Mark Kimbrough		Ed Fishbough
615-344-2688		615-344-2810

HCA Reports Second Quarter 2018 Results

Nashville, Tenn., July 25, 2018 – HCA Healthcare, Inc. (NYSE: HCA) today announced financial and operating results for the second quarter ended June 30, 2018.

Key second quarter metrics (all percentage changes compare 2Q 2018 to 2Q 2017 unless noted):

Revenues in the second quarter increased to $11.529 billion, compared to $10.733 billion in the second quarter of 2017. Net income attributable to HCA Healthcare, Inc. totaled $820 million, or $2.31 per diluted share, compared to $657 million, or $1.75 per diluted share, in the second quarter of 2017. The second quarter 2018 results include gains on sales of facilities of $9 million, or $0.02 per diluted share. The Company recognized a tax benefit of $121 million, or $0.34 per diluted share, on net income attributable to HCA Healthcare, Inc., excluding gains on sales of facilities, for the second quarter of 2018, due to a reduction in its effective tax rate related to the impact of the Tax Cuts and Jobs Act. Adjusted EBITDA totaled $2.227 billion compared to $2.090 billion in the second quarter of 2017. Adjusted EBITDA is a non-GAAP financial measure. A table reconciling net income attributable to HCA Healthcare, Inc. to Adjusted EBITDA is included in this release.

Same facility admissions for the second quarter of 2018 increased 2.7 percent, while same facility equivalent admissions increased 2.8 percent compared to the prior year period. Same facility emergency room visits for the second quarter of 2018 declined 0.8 percent from the prior year’s second quarter. Same facility inpatient surgeries increased 1.7 percent, while same facility outpatient surgeries increased 2.6 percent compared to the second quarter of 2017.

During the second quarter of 2018, salaries and benefits, supplies and other operating expenses totaled $9.309 billion, or 80.8 percent of revenues, compared to $8.656 billion, or 80.6 percent of revenues, in the second quarter of 2017. On a same-facility basis, salaries and benefits, supplies and

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other operating expenses totaled $8.571 billion, or 77.8 percent of revenues, during for the second quarter of 2018, compared to $8.150 billion, or 78.7 percent of revenues, on a same-facility basis for the same period of 2017.

Six Months Ended June 30, 2018

Revenues for the six months ended June 30, 2018 totaled $22.952 billion compared to $21.356 billion in the same period of 2017. Net income attributable to HCA Healthcare, Inc. was $1.964 billion, or $5.50 per diluted share, compared to $1.316 billion, or $3.48 per diluted share, for the first six months of 2017. Results for the six months ended June 30, 2018 include gains on sales of facilities of $414 million, or $0.88 per diluted share. The Company also recognized a tax benefit of $192 million, or $0.54 per diluted share, on net income attributable to HCA Healthcare, Inc., excluding gains on sales of facilities, for the six months ended June 30, 2018, due to a reduction in its effective tax rate related to the impact of the Tax Cuts and Jobs Act. Results for the six months ended June 30, 2018 also include a $96 million tax benefit, or $0.27 per diluted share, compared to $76 million, or $0.20 per diluted share, for the same period of 2017, related to the recording of excess tax benefits for employee equity award settlements.

Balance Sheet and Cash Flows from Operations

As of June 30, 2018, HCA Healthcare, Inc.’s balance sheet reflected cash and cash equivalents of $868 million, total debt of $33.192 billion, and total assets of $37.742 billion. During the second quarter of 2018, capital expenditures totaled $880 million, excluding acquisitions. Cash flows provided by operating activities in the quarter totaled $1.582 billion compared to $1.404 billion in the second quarter of 2017.

As of June 30, 2018, HCA’s leverage ratio as measured by Total Debt/Adjusted EBITDA was 3.91x, compared to 4.02x as of December 31, 2017.

During the second quarter of 2018, the Company repurchased 4.670 million shares of its common stock at a cost of $470 million, and during the six months ended June 30, 2018, repurchased 9.040 million shares of its common stock at a cost of $893 million. The Company had $910 million remaining under its existing repurchase authorization as of June 30, 2018.

As of June 30, 2018, HCA operated 178 hospitals and approximately 1,800 sites of care, including surgery centers, freestanding emergency rooms, urgent care centers and physician clinics, in 20 states and the United Kingdom.

Dividend

HCA today announced that its Board of Directors declared a quarterly cash dividend of $0.35 per share on the Company’s common stock. The dividend will be paid on September 28, 2018 to stockholders of record at the close of business on September 4, 2018.

The declaration and payment of any future dividend will be subject to the discretion of the Board of Directors and will depend on a variety of factors, including the Company’s financial condition and results of operations and contractual restrictions. Future dividends are expected to be funded by cash balances and future cash flows from operations.

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2018 Guidance

The 2018 guidance ranges for the year have been revised from our fourth quarter 2017 and first quarter 2018 releases and are as follows:

The Company’s 2018 guidance contains a number of assumptions, including:

Adjusted EBITDA is a non-GAAP financial measure. A table reconciling forecasted net income attributable to HCA Healthcare, Inc. to forecasted Adjusted EBITDA is included in this release.

The Company’s guidance is based on current plans and expectations and is subject to a number of known and unknown uncertainties and risks, including those set forth below in the Company’s “Forward-Looking Statements.”

Earnings Conference Call

HCA will host a conference call for investors at 9:00 a.m. Central Daylight Time today. All interested investors are invited to access a live audio broadcast of the call via webcast. The broadcast also will be available on a replay basis beginning this afternoon. The webcast can be accessed at: https://event.webcasts.com/starthere.jsp?ei=1160373&tp_key=8102f3251b or through the Company’s Investor Relations web page, www.hcahealthcare.com.

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws, which involve risks and uncertainties. Forward-looking statements include the Company’s financial guidance for the year ending December 31, 2018, as well as other statements that do not relate solely to historical or current facts. Forward-looking statements can be identified by the use of words like “may,” “believe,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “initiative” or “continue.” These forward-looking statements are based on our current plans and expectations and are subject to a number of known and unknown uncertainties and risks, many of which are beyond our control, which could significantly affect current plans and expectations and our future financial position and results of operations. These factors include, but are not limited to, (1) the impact of our substantial indebtedness and the ability to refinance such indebtedness on acceptable terms, (2) the impact of the Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010 (collectively, the “Health Reform Law”), including the effects of any repeal of, or changes to, the Health Reform Law or changes to its implementation, the possible enactment of additional federal or state health care reforms and possible changes to other federal, state or local laws or regulations affecting the health care industry, (3) the effects related to the continued implementation of the sequestration spending reductions required under the Budget Control Act of 2011, and related legislation extending these reductions, and the potential for future deficit reduction legislation that may alter these spending reductions, which include cuts to Medicare payments, or create additional spending reductions, (4) increases in the amount and risk of collectability of uninsured accounts and deductibles and copayment amounts for insured accounts, (5) the ability to achieve operating and financial targets, and attain expected levels of patient volumes and control the costs of providing services, (6) possible changes in Medicare, Medicaid and other state programs, including Medicaid supplemental payment programs or Medicaid waiver programs, that may impact reimbursements to health care providers and insurers and the size of the uninsured or underinsured population, (7) the highly competitive nature of the health care business, (8) changes in service mix, revenue mix and surgical volumes, including potential declines in the population covered under third-party payer agreements, the ability to enter into and renew third-party payer provider agreements on acceptable terms and the impact of consumer-driven health plans and physician utilization trends and practices, (9) the efforts of health insurers, health care providers, large employer groups and others to contain health care costs, (10) the outcome of our continuing efforts to monitor, maintain and comply with appropriate laws, regulations, policies and procedures, (11) increases in wages and the ability to attract and retain qualified management and personnel, including affiliated physicians, nurses and medical and technical support personnel, (12) the availability and terms of capital to fund the expansion of our business and improvements to our existing facilities, (13) changes in accounting practices, (14) changes in general economic conditions nationally and regionally in our markets, (15) the emergence and effects related to infectious diseases, (16) future divestitures which may result in charges and possible impairments of long-lived assets, (17) changes in business strategy or development plans, (18) delays in receiving payments for services provided, (19) the outcome of pending and any future tax audits, disputes and litigation associated with our tax positions, (20) potential adverse impact of known and unknown government investigations, litigation and other claims that may be made against us, (21) the impact of potential cybersecurity incidents or security breaches, (22) our ongoing ability to demonstrate meaningful use

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of certified electronic health record technology, (23) the impact of natural disasters, such as hurricanes and floods, or similar events beyond our control, (24) changes in interpretations, assumptions, and expectations regarding the 2017 Tax Cuts and Jobs Act, including additional guidance that may be issued by federal and state taxing authorities or other standard-setting bodies, and (25) other risk factors described in our annual report on Form 10-K for the year ended December 31, 2017 and our other filings with the Securities and Exchange Commission. Many of the factors that will determine our future results are beyond our ability to control or predict. In light of the significant uncertainties inherent in the forward-looking statements contained herein, readers should not place undue reliance on forward-looking statements, which reflect management’s views only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

All references to “Company” and “HCA” as used throughout this release refer to HCA Healthcare, Inc. and its affiliates.

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HCA Healthcare, Inc.

Condensed Consolidated Comprehensive Income Statements

Second Quarter

(Dollars in millions, except per share amounts)

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HCA Healthcare, Inc.

Condensed Consolidated Comprehensive Income Statements

For the Six Months Ended June 30, 2018 and 2017

(Dollars in millions, except per share amounts)

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HCA Healthcare, Inc.

Condensed Consolidated Balance Sheets

(Dollars in millions)

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HCA Healthcare, Inc.

Consolidated Statements of Cash Flows

For the Six Months Ended June 30, 2018 and 2017

(Dollars in millions)

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HCA Healthcare, Inc.

Operating Statistics

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HCA Healthcare, Inc.

Supplemental Non-GAAP Disclosures

Operating Results Summary

(Dollars in millions, except per share amounts)

Management and investors review both the overall performance (including net income attributable to HCA Healthcare, Inc., excluding gains on sales of facilities, and GAAP net income attributable to HCA Healthcare, Inc.) and operating performance (Adjusted EBITDA) of our health care facilities. Adjusted EBITDA and the Adjusted EBITDA margin (Adjusted EBITDA divided by revenues) are utilized by management and investors to compare our current operating results with the corresponding periods during the previous year and to compare our operating results with other companies in the health care industry. It is reasonable to expect that gains on sales of facilities will occur in future periods, but the amounts recognized can vary significantly from period to period, do not directly relate to the ongoing operations of our health care facilities and complicate period comparisons of our results of operations and operations comparisons with other health care companies.

Net income attributable to HCA Healthcare, Inc., excluding gains on sales of facilities, and Adjusted EBITDA are not measures of financial performance under GAAP, and should not be considered as alternatives to net income attributable to HCA Healthcare, Inc. as a measure of operating performance or cash flows from operating, investing and financing activities as a measure of liquidity. Because net income attributable to HCA Healthcare, Inc., excluding gains on sales of facilities, and Adjusted EBITDA are not measurements determined in accordance with GAAP and are susceptible to varying calculations, net income attributable to HCA Healthcare, Inc., excluding gains on sales of facilities, and Adjusted EBITDA, as presented, may not be comparable to other similarly titled measures presented by other companies.

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HCA Healthcare, Inc.

Supplemental Non-GAAP Disclosures

2018 Operating Results Forecast

(Dollars in millions, except per share amounts)

The Company’s forecasted guidance range is based on current plans and expectations and is subject to a number of known and unknown uncertainties and risks.

Management and investors review both the overall performance (including net income attributable to HCA Healthcare, Inc.) and operating performance (Adjusted EBITDA) of our health care facilities. Adjusted EBITDA and the Adjusted EBITDA margin (Adjusted EBITDA divided by revenues) are utilized by management and investors to compare our current operating results with the corresponding periods during the previous year and to compare our operating results with other companies in the health care industry.

Adjusted EBITDA is not a measure of financial performance under GAAP and should not be considered as an alternative to net income attributable to HCA Healthcare, Inc. as a measure of operating performance or cash flows from operating, investing and financing activities as a measure of liquidity. Because Adjusted EBITDA is not a measurement determined in accordance with GAAP and is susceptible to varying calculations, Adjusted EBITDA, as presented, may not be comparable to other similarly titled measures presented by other companies.

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