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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-Q ý Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 30, 2024 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 Nu ...

Financial Data and Key Metrics Changes - Tenet Healthcare reported net operating revenues of $5.1 billion for Q3 2024, with consolidated adjusted EBITDA of $978 million, reflecting a 15% increase compared to Q3 2023 [7][18] - The adjusted EBITDA margin improved to 19.1%, up 220 basis points from the previous year [19] - Free cash flow generated in Q3 was $829 million, with $4.1 billion in cash on hand and no borrowings under the credit facility [23][24] Business Line Data and Key Metrics Changes - USPI's adjusted EBITDA reached $439 million, a 19% increase year-over-year, with same-facility revenues growing by 8.7% [8][20] - The Hospital segment's adjusted EBITDA was $539 million, representing an 11% growth over Q3 2023, with same-store hospital admissions up 5.2% [10][21] - Revenue per adjusted admission in the Hospital segment increased by 3.3% compared to the prior year [11][21] Market Data and Key Metrics Changes - USPI's same-facility system-wide net revenue per case increased by 7.6%, driven by high acuity and favorable payer mix [20] - The company noted strong demand in the hospital segment, particularly in cardiovascular and specialty surgical areas, contributing to inpatient admissions growth [68] Company Strategy and Development Direction - Tenet is focused on expanding its network and investing in growth opportunities, including the opening of new hospitals and partnerships [12][17] - The company is committed to a deleveraged balance sheet, with a leverage ratio of around 3 after accounting for tax payments due on asset sales [16] - Future capital deployment will prioritize growth in the ambulatory surgical business through M&A and de novo development, alongside returning excess capital to shareholders [17][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand environment and the ability to meet guidance despite challenges from hurricanes affecting operations [41][72] - The company anticipates continued growth in same-store volumes and effective pricing, with expectations to offset headwinds from divested facilities in 2025 [30][76] - Management highlighted the importance of maintaining operational efficiencies and cost controls to navigate the current healthcare landscape [39][66] Other Important Information - The company completed the sale of its Alabama hospitals, enhancing the return profile of its remaining portfolio [14][15] - Tenet expects consolidated net operating revenues for 2024 to be in the range of $20.6 billion to $20.8 billion, with adjusted EBITDA guidance raised to $3.9 billion to $4.0 billion [25][26] Q&A Session Summary Question: Clarification on USPI segment guidance and cash flow tax payments - Management clarified that USPI's Q4 EBITDA guidance implies a sequential increase, and tax payments for Q4 are expected to be around $700 million [34][36] Question: Details on 2025 growth expectations - Management indicated strong demand recovery in the hospital segment and does not foresee a decline in volumes moving into 2025 [43][45] Question: Impact of hurricanes on operations - Management confirmed that 148 facilities were impacted, but most are operational, and they expect to recover business in Q4 [41][72] Question: Hospital earnings cadence and unusual items in Q3 - Management noted that the earnings cadence is slightly different this year due to divestitures, but Q3 did not have any unusual items affecting results [55][57] Question: Supplemental payment amounts and Medicaid programs - Year-to-date supplemental Medicaid fees are approximately $900 million, with expectations to offset divestiture impacts through strong volume growth [61] Question: Future capital deployment and acquisitions - Management emphasized the focus on post-synergy multiples for acquisitions and has not seen significant changes in purchasing multiples recently [80] Question: Contribution from Conifer post-divestitures - Management expects ongoing benefits from long-term revenue cycle relationships with divested sites, contributing positively to EBITDA [86][88]

| --- | --- | --- | --- | |------------------|-------|-------|-------| | 3rd Quarter 2024 | | | | | | | | | | | | | | | Earnings Release | | | | | Presentation | | | | | October 29, 2024 | | | | Cautionary Statements This presentation includes "forward looking statements." These statements relate to future events, including, but not limited to, statements regarding our liquidity, operating results, future earnings, financial position, operational and strategic initiatives, and developments in legislation, r ...

For the quarter ended September 2024, Tenet Healthcare (THC) reported revenue of $5.12 billion, up 1.1% over the same period last year. EPS came in at $2.93, compared to $1.44 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $5.05 billion, representing a surprise of +1.48%. The company delivered an EPS surprise of +25.75%, with the consensus EPS estimate being $2.33. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- a ...

Tenet Healthcare (THC) came out with quarterly earnings of $2.93 per share, beating the Zacks Consensus Estimate of $2.33 per share. This compares to earnings of $1.44 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 25.75%. A quarter ago, it was expected that this hospital operator would post earnings of $1.89 per share when it actually produced earnings of $2.31, delivering a surprise of 22.22%.Over the last four quarters, th ...

Exhibit 99.1 https://files.reportify.cc/m Tenet Reports Strong Third Quarter 2024 Results; Raises 2024 Financial Outlook • Net income available to common shareholders in third quarter 2024 was $472 million, or $4.89 per diluted share, including an after-tax gain of $209 million, or $2.16 per diluted share, primarily associated with previously announced hospital divestitures • Adjusted diluted earnings per share was $2.93 in third quarter 2024 • Consolidated Adjusted EBITDA in third quarter 2024 of $978 mill ...

Wall Street analysts forecast that Tenet Healthcare (THC) will report quarterly earnings of $2.33 per share in its upcoming release, pointing to a year-over-year increase of 61.8%. It is anticipated that revenues will amount to $5.05 billion, exhibiting a decline of 0.4% compared to the year-ago quarter. Over the last 30 days, there has been an upward revision of 0.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration ...

Hospital company Tenet Healthcare Corporation (THC) is set to report its third-quarter 2024 results on Oct. 29, 2024, before the opening bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings and revenues is pegged at $2.33 per share and $5.05 billion, respectively.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The earnings estimate for the to-be-reported quarter has remained stable over the past 60 days. The bottom-line projection indicates year-over-year gro ...