DALLAS--(BUSINESS WIRE)--Tenet Healthcare Corporation (NYSE: THC) has entered into a definitive agreement with Adventist Health for the sale of two Tenet hospitals and related operations in San Luis Obispo County. Tenet also announced its Conifer Health Solutions subsidiary will enter into an agreement to provide revenue cycle services for Adventist Health. The transaction will include Sierra Vista Regional Medical Center and Twin Cities Community Hospital, as well as affiliated physician practices and oth ...

Tenet Healthcare (THC) closed the latest trading day at $89.22, indicating a -1.12% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.17%. Meanwhile, the Dow experienced a drop of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.55%.Heading into today, shares of the hospital operator had gained 9.05% over the past month, outpacing the Medical sector's gain of 5.93% and the S&P 500's gain of 3.98% in that time.Investors will be eagerly watchi ...

DALLAS--(BUSINESS WIRE)--Tenet Healthcare Corporation (NYSE: THC) today called for the redemption of all $2,100 million outstanding of its 4.875% Senior Secured First Lien Notes due 2026 (the “Notes”), which were issued pursuant to the Indenture, dated as of November 6, 2001 (the “Base Indenture”), by and between Tenet and The Bank of New York, as predecessor to The Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented by the Thirty-Second Supplemental Indenture, dated as of August 26, 20 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-K ý Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2023 OR ¨ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to Commission File Number 1-7293 TENET HEALTHCARE CORPORATION (Exact name of Registrant as specified in its charter) Nevada 95-2557091 (State of Incorporation) (IRS Employer Id ...

Financial Data and Key Metrics Changes - Tenet Healthcare reported net operating revenues of $20.5 billion for 2023, with consolidated adjusted EBITDA of $3.54 billion, resulting in a 17.2% adjusted EBITDA margin [5][39] - In Q4 2023, total net operating revenues were $5.4 billion, and consolidated adjusted EBITDA was $1.012 billion [39] - The company achieved a free cash flow of $1.6 billion for the year, ending with over $1.2 billion in cash and no borrowings under its $1.5 billion line of credit [42][43] Business Line Data and Key Metrics Changes - The USPI segment generated $1.54 billion in EBITDA for 2023, reflecting a 16.4% growth over 2022, with margins at 40% [8] - USPI experienced a 9.2% growth in same facility revenues in 2023, significantly exceeding the long-term goal of 4% to 6% [14] - The hospital segment generated $2 billion of adjusted EBITDA in 2023, representing a 12% EBITDA margin [25] Market Data and Key Metrics Changes - Non-COVID same-store inpatient admissions increased by 2.6% in Q4 and 6.2% for the full year 2023 [16][40] - Joint replacement surgeries rose nearly 20% in Q4 and over 15% for the year, indicating strong recovery in various service lines [24] Company Strategy and Development Direction - The company is focused on transforming into a more profitable value-based care enterprise, enhancing free cash flow opportunities, and reducing leverage [7][62] - Tenet plans to invest approximately $200 million to $250 million annually in USPI, with a robust pipeline for new center openings [30][73] - The company aims to strategically open capacity in hospitals to meet growing demand while maintaining operational discipline [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth rates of the ambulatory surgery business, anticipating continued strength in demand and pricing [19][20] - The guidance for 2024 projects adjusted EBITDA of $3.285 billion to $3.485 billion, reflecting a 7% growth rate at the midpoint [34][68] - Management acknowledged potential headwinds from the termination of COVID-related funding programs and new regulations affecting reimbursement [69] Other Important Information - The company has combined Conifer and hospital operations into one reportable segment, which does not impact consolidated revenues or EBITDA [12] - Recent divestitures, including the sale of hospitals, are expected to lower leverage ratios and improve financial flexibility [37][67] Q&A Session All Questions and Answers Question: Insights on 1% to 3% case growth for USPI - Management indicated that the strong growth in 2023 sets a high comp for 2024, but they remain optimistic about sustaining volume growth across service lines [49][50] Question: Thoughts on recent divestitures and market dynamics - Management noted that the high valuations for divested assets reflect their quality and the rarity of such opportunities in the market [51][53] Question: Expectations for labor costs and contract labor savings - Management expects continued savings from contract labor in 2024, with base wage inflation modeled at 2% to 3% [129] Question: Payer mix expectations for 2024 - The payer mix is expected to remain steady, with managed care around 70%, and potential tailwinds from exchange volume growth not assumed to be material in guidance [140]

24 (1) The figures shown represent the Company's estimate for restructuring payments. The Company does not generally forecast payments for acquisition-related costs, and litigation costs and settlements because it does not believe that it can forecast these items with sufficient accuracy since some of these items are indeterminable at the time the Company provides its financial Outlook. February 8, 2024 Examples of uncertainties that may cause our actual results, performance or achievements to be materially ...

Tenet Healthcare Corporation (THC) reported fourth-quarter 2023 adjusted earnings per share (EPS) of $2.68, which beat the Zacks Consensus Estimate by 69.6% and surpassed management’s expectations. The bottom line jumped 36.7% year over year.Net operating revenues of THC amounted to $5.4 billion, which improved 7.8% year over year in the quarter under review and met management’s estimate. The top line outpaced the consensus mark by 2.2%.The strong quarterly results were aided by expanding patient volumes, i ...

Tenet Healthcare (THC) reported $5.38 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 7.8%. EPS of $2.68 for the same period compares to $1.96 a year ago.The reported revenue represents a surprise of +2.18% over the Zacks Consensus Estimate of $5.26 billion. With the consensus EPS estimate being $1.58, the EPS surprise was +69.62%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall ...

DALLAS--(BUSINESS WIRE)--Tenet Healthcare Corporation (Tenet) (NYSE: THC) today announced its results for the quarter and year ended December 31, 2023. " Our businesses performed exceptionally well in 2023, driven by strong same facility revenue growth and disciplined operating management," said Saum Sutaria, M.D., Chairman and Chief Executive Officer of Tenet. " We carry momentum into 2024 and are focused on continuing to expand access to care and investing in cutting edge technology for our patients and ...

Tenet Healthcare Corporation (THC) is set to beat on earnings for the fourth quarter of 2023, the results for which are scheduled to be released on Feb 8, before the opening bell.What Do the Estimates Say?The Zacks Consensus Estimate for fourth-quarter earnings per share of $1.55 suggests a 20.9% decrease from the prior-year figure of $1.96. The consensus mark has remained stable over the past week. The consensus estimate for fourth-quarter revenues of $5.3 billion indicates a 5.2% increase from the year-ag ...