Tenet Healthcare Corp

THC

Equity

ISIN US88033G4073 / Valor 19722583

New York Stock Exchange, Inc (2024-09-18)

USD 161.07+2.62%

Tenet Healthcare Corp
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About company

Tenet Healthcare Corp is a multinational healthcare services company that operates hospitals and other healthcare facilities.

Summarized from source with an LLMView SourceSector: Healthcare

Net Income

Tenet Healthcare Corp's net income available to common shareholders for the second quarter of 2024 was $259 million, or $2.64 per diluted share. This represents a significant increase from the $123 million, or $1.15 per diluted share, reported in the second quarter of 2023.

Adjusted EBITDA

For the second quarter of 2024, Tenet Healthcare Corp reported an Adjusted EBITDA of $945 million, reflecting a 12.1% increase over the $843 million reported in the second quarter of 2023. This growth was driven by strong same-hospital admission growth and favorable payer mix.

Ambulatory Care Segment

Tenet Healthcare Corp's Ambulatory Care segment reported an Adjusted EBITDA of $447 million for the second quarter of 2024, a 20.8% increase compared to the $370 million reported in the second quarter of 2023. This growth was attributed to strong net revenue per case growth and acquisitions of new facilities.

Share Repurchase Program

In the second quarter of 2024, Tenet Healthcare Corp's Board of Directors authorized a new $1.5 billion share repurchase program. This decision follows the completion of the company's previous $1 billion share repurchase program.

2024 Financial Outlook

Tenet Healthcare Corp has raised its financial outlook for the full year 2024. The company now expects its Adjusted EBITDA to be in the range of $3.825 billion to $3.975 billion, a $300 million increase from previous estimates. Additionally, the Free Cash Flow outlook has been increased to a range of $1.100 billion to $1.350 billion.

Summarized from source with an LLMView Source

Key figures

130%1Y

121%3Y

544%5Y

Performance

36.6%1Y

47.3%3Y

60.5%5Y

Volatility