secwatch.observer — SEC 8-K summary
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Issuer:     TENET HEALTHCARE CORP (THC)
CIK:        0000070318
Form:       8-K
Filed at:   2022-04-20T23:59:59+00:00
Accession:  0000070318-22-000023
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tenet Q1 adj. EBITDA $882M (ex. grants) beats outlook; net income $139M; retired $824M debt
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- Net income from continuing ops $139M vs $97M YoY; adj. diluted EPS $1.93 vs $1.30.
- Consolidated adj. EBITDA $888M ($882M ex. grants) exceeded Q1 outlook; Q1'21 $777M ($740M ex. grants).
- Retired $824M of debt YTD including $700M 7.5% senior secured notes; expects $61M annual interest savings.
- Same-facility ambulatory surgical cases +8.0% YoY; same-hospital adjusted admissions -1.4% due to Omicron.
- Free cash flow $73M ($267M ex. Medicare advance repayments); maintained 2022 adj. EBITDA outlook.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/70318/000007031822000023/0000070318-22-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/70318/000007031822000023/thc-20220420.htm
  HTML page:      https://secwatch.observer/filing/0000070318-22-000023

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