Tenet Healthcare Corp. ( (THC) ) has realeased its Q3 earnings. Here is a breakdown of the information Tenet Healthcare Corp. presented to its investors.
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Tenet Healthcare Corporation is a diversified healthcare services company based in Dallas, operating a network of hospitals, ambulatory surgery centers, and a global business center, along with its subsidiary, Conifer Health Solutions, providing revenue cycle management and value-based care solutions.
In its third-quarter earnings report for 2024, Tenet Healthcare Corp. announced a significant increase in profitability, with a net income of $472 million compared to $101 million in the same period last year. The company also raised its financial outlook for the full year.
Key financial highlights include a 14.5% increase in consolidated Adjusted EBITDA to $978 million and a substantial rise in net income per diluted share to $4.89, driven by strategic hospital divestitures and disciplined operations. The Ambulatory Care segment reported an 18.6% increase in Adjusted EBITDA, while the Hospital segment saw a 3.4% decline in net operating revenues due to hospital divestitures but still achieved strong same-hospital admissions growth.
Looking ahead, Tenet Healthcare’s management maintains a positive outlook for 2024, projecting Adjusted EBITDA between $3.9 billion and $4.0 billion, reflecting their confidence in continued strategic execution and operational efficiency improvements.
