---
schema_version: "secwatch.filing_event.v1"
accession: "0000070318-25-000013"
form_type: "8-K"
ticker: "THC"
cik: "0000070318"
company_name: "TENET HEALTHCARE CORP"
filed_at: "2025-04-29T23:59:59+00:00"
generated_at: "2026-05-23T04:22:01.007020+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Tenet Q1 adjusted EPS $4.36, +35% YoY; Adj EBITDA $1.163B, +13.6%; guides FY adj EBITDA $3.975-4.175B

## Summary
- Net income available to common shareholders $406M ($4.27 diluted) vs $2.151B in Q1 2024 (prior year included $2.5B divestiture gain).
- Adjusted diluted EPS $4.36 vs $3.22, +35.4%; consolidated net operating revenues $5.223B (down 2.7% due to hospital divestitures).
- Ambulatory Care segment Adj EBITDA $456M (+15.7%), revenue per case up 9.1%; Hospital segment Adj EBITDA $707M (+12.2%) on 4.4% same-hospital admissions growth.
- Free cash flow $642M, up from $346M; repurchased 2.63M shares for $348M during Q1.
- FY 2025 outlook: Adj EBITDA $3.975-$4.175B; Adj diluted EPS $11.99-$13.12; free cash flow $1.8-$2.05B.

## SEC filing metadata
- accession: 0000070318-25-000013
- form_type: 8-K
- ticker: THC
- cik: 0000070318
- company_name: TENET HEALTHCARE CORP
- filed_at: 2025-04-29T23:59:59+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/70318/000007031825000013/0000070318-25-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/70318/000007031825000013/thc-20250429.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000070318-25-000013
- JSON: https://secwatch.observer/filing/0000070318-25-000013.json
- Plain text: https://secwatch.observer/filing/0000070318-25-000013.txt

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