secwatch.observer — SEC 8-K summary
======================================

Issuer:     TENET HEALTHCARE CORP (THC)
CIK:        0000070318
Form:       8-K
Filed at:   2025-04-29T23:59:59+00:00
Accession:  0000070318-25-000013
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/70318/000007031825000013/0000070318-25-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/70318/000007031825000013/thc-20250429.htm
  HTML page:      https://secwatch.observer/filing/0000070318-25-000013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer