Tenet Healthcare (THC) Tops Q3 EPS by 23c; Lower Outlook

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Go back to Tenet Healthcare (THC) Tops Q3 EPS by 23c; Lower Outlook

Tenet Reports Results for the Third Quarter Ended September 30, 2017

November 6, 2017 4:20 PM EST

Reported a net loss from continuing operations attributable to Tenet shareholders of $366 million or $3.63 per diluted share. Adjusted diluted loss per share from continuing operations was $0.17. Adjusted EBITDA was $507 million including an estimated $30 million impact due to lower revenues and higher expenses related to Hurricanes Harvey and Irma and $10 million of lower-than-anticipated revenues from the Texas Medicaid Waiver and Florida Medicaid programs. Same-hospital patient revenue decreased 2.3% and reflects a 2.2% decrease in adjusted admissions and a 0.2% decrease in revenue per adjusted admission. Hospital segment Adjusted EBITDA totaled $269 million.... More