Tenet Q3 adj. EPS $2.93 beats; raises FY24 EBITDA outlook to $3.9B-$4.0B

TENET HEALTHCARE CORP

2024-Q3 EPS reported $29.27 revenue$15,593,000,000

Q3 net income $472M ($4.89 diluted) includes $2.16 gain from hospital divestiture; adj. EPS $2.93.
Consolidated Adj. EBITDA $978M (+14.5% YoY); Ambulatory segment Adj. EBITDA $439M (+18.6%).
FY2024 Adj. EBITDA guidance raised by $50M to $3.9B-$4.0B; net operating rev. guidance $20.6B-$20.8B.
Free cash flow for 9 months $1.777B; share repurchases $672M YTD; net debt/EBITDA improved to 2.22x.
Completed sale of 70% stake in Brookwood Baptist Health (5 AL hospitals) to Orlando Health in Q3.

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