Tenet Q2 net income $123M ($1.15/diluted); raises FY23 EBITDA view to $3.31-3.46B

TENET HEALTHCARE CORP

2023-Q2 EPS reported $2.47 revenue$10,103,000,000

Net income from continuing ops $123M ($1.15/diluted); adjusted EPS $1.44; revenue $5.08B, up from $4.64B YoY.
Ambulatory Care Adj. EBITDA ex-grant $369M (+16.4% YoY); same-facility surgical cases +6.6%.
Hospital segment Adj. EBITDA ex-grant $381M; same-hospital admissions +3.0%, non-COVID admissions +5%.
FY2023 Adj. EBITDA guidance raised to $3.31-3.46B; FCF outlook $1.1-1.35B.
Completed $1.35B 6.75% notes private placement; redeemed $1.345B 4.625% notes due 2024; no debt maturities until 2026.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

TENET HEALTHCARE CORP reported the quarter ended June 30, 2023 results: revenue $5,082, net income $123, EPS $1.15. Guidance raised.

Period: the quarter ended June 30, 2023
Revenue: $5,082
Net income: $123
EPS: $1.15
Guidance: raised
Result: reported results

Exact text from the filing

Three Months Ended June 30, Six Months Ended June 30, ($ in millions, except per share results) 2023 2022 2023 2022 Net operating revenues $5,082 $4,638 $10,103 $9,383 Net income available to Tenet common shareholders from continuing operations $123 $38 $266 $177 Net income available to Tenet common shareholders from continuing operations per diluted share $1.15 $0.35 $2.47 $1.63 Adjusted EBITDA 1 excluding grant income $835 $749 $1,664 $1,631 Adjusted EBITDA 1 $843 $843 $1,675 $1,731 Adjusted diluted earnings per share from continuing operations 1 $1.44 $1.48 $2.87 $3.33

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Source: SEC EDGAR

accession 0000070318-23-000040

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