- Tenet Healthcare Corp's (NYSE:THC) Q1 FY22 adjusted EPS came in at $1.93, up from $1.30 a year ago and beating the management guidance of $0.92 - $1.15.
- Net operating revenue hit $4.74 billion, marginally down 0.75% Y/Y, beating the consensus of $4.71 billion. Management expected sales of $4.6 billion - $4.8 billion.
- Adjusted EBITDA reached $888 million, exceeding the Company's Q1'22 Outlook range, versus $777 million in Q1 FY21.
- Hospital segment revenues were $3.98 billion, a decline of 3.8% primarily due to the sale of Miami-area hospitals, partially offset by improved pricing yield.
- The Ambulatory segment revenues of $738 million increased 14.2%, primarily related to higher volumes, new service line growth, and the SurgCenter acquisition.
- The Company has early retired $824 million of debt in 2022, including its previously announced retirement of $700 million of 7.5% senior secured notes due in 2025. It expects annual cash interest savings of $61 million.
- Tenet held $959 million in cash and cash equivalents.
- Outlook: Tenet forecasts Q2 FY22 sales of $4.8 billion - $5.0 billion, compared to the consensus of $4.91 billion.
- It expects adjusted EPS of $1.18 - $1.45, compared to the consensus of $1.54.
- Price Action: THC shares are up 0.69% at $89.62 on the last check Thursday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Tenet Healthcare Clocks 43% Jump In Q1 Profit Despite Flat Sales, Q2 Profit Outlook Trails Consensus
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks