---
schema_version: "secwatch.filing_event.v1"
accession: "0000070318-25-000005"
form_type: "8-K"
ticker: "THC"
cik: "0000070318"
company_name: "TENET HEALTHCARE CORP"
filed_at: "2025-02-12T23:59:59+00:00"
generated_at: "2026-05-26T23:06:47.390608+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Tenet Q4 EPS $3.32 (adj. $3.44); FY2025 adj. EBITDA guidance $3.975-4.175B

## Summary
- Q4 net income $318M ($3.32 diluted); adjusted EPS $3.44 vs $2.68 year ago.
- Q4 net operating revenue $5.072B (down 5.7% YoY from $5.379B on hospital divestitures).
- Q4 consolidated adjusted EBITDA $1.048B (20.7% margin); Ambulatory adj. EBITDA up 14.2% to $530M.
- FY2025 outlook: adj. EBITDA $3.975-4.175B, adj. EPS $11.74-12.84, free cash flow $1.8-2.05B.
- Net debt-to-adjusted EBITDA improved to 2.54x at Dec 31, 2024; repurchased 5.6M shares for $672M in 2024.

## SEC filing metadata
- accession: 0000070318-25-000005
- form_type: 8-K
- ticker: THC
- cik: 0000070318
- company_name: TENET HEALTHCARE CORP
- filed_at: 2025-02-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/70318/000007031825000005/0000070318-25-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/70318/000007031825000005/thc-20250212.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000070318-25-000005
- JSON: https://secwatch.observer/filing/0000070318-25-000005.json
- Plain text: https://secwatch.observer/filing/0000070318-25-000005.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.