The upcoming report from Tenet Healthcare (THC) is expected to reveal quarterly earnings of $2.82 per share, indicating an increase of 22.1% compared to the year-ago period. Analysts forecast revenues of $5.15 billion, representing an increase of 0.8% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to ...

Investors might want to bet on Tenet Healthcare (THC) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.The ...

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Core Viewpoint - Tenet Healthcare (THC) has seen a 15.2% increase in shares over the past month, outperforming the S&P 500, raising questions about the sustainability of this trend leading up to the next earnings release [1] Estimates Movement - Estimates for Tenet Healthcare have trended upward in the past month, with a consensus estimate shift of 5.78% [2] VGM Scores - Tenet has a Growth Score of B, a Momentum Score of F, and a Value Score of A, placing it in the top 20% for the value investment strategy, resulting in an aggregate VGM Score of A [3] Outlook - The upward trend in estimates and the magnitude of revisions suggest a positive outlook for Tenet, reflected in a Zacks Rank 2 (Buy), indicating expectations for above-average returns in the coming months [4] Industry Performance - Tenet operates within the Zacks Medical - Hospital industry, where Universal Health Services (UHS) has gained 7.5% over the past month, reporting revenues of $4.1 billion with a year-over-year change of +6.7% and an EPS of $4.84 compared to $3.70 a year ago [5] Earnings Expectations for Industry Player - Universal Health Services is projected to post earnings of $4.89 per share for the current quarter, reflecting a year-over-year change of +13.5%, with a Zacks Consensus Estimate change of +1% over the last 30 days, resulting in a Zacks Rank 3 (Hold) [6]

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Summary of Tenet Healthcare Conference Call Company Overview - **Company**: Tenet Healthcare (THC) - **Industry**: Healthcare Facilities and Managed Care - **Event**: BOA Healthcare Conference on May 13, 2025 Key Points Growth and Strategic Focus - Tenet Healthcare is experiencing strong momentum and is focused on growth, capital deployment, and expansion opportunities in accretive service lines [3][4] - The company is prioritizing cost control and has a healthy pipeline of Ambulatory Surgery Center (ASC) opportunities [4] Ambulatory Surgery Center (ASC) Insights - The ASC business has significant growth potential driven by demographic trends and innovation in surgical procedures [7][8] - Tenet is actively migrating to higher acuity procedures in ASCs, which are more competitive and cost-effective compared to traditional inpatient settings [10][12] - Q1 results showed flat same-store volumes, but double-digit growth in high acuity procedures, indicating a successful strategy in managing acuity levels [12][13] Financial Performance - Tenet has consistently outperformed revenue growth guidance, achieving a growth algorithm of 3% to 6% in top-line revenue [14] - The company reported a 9% growth in Q1, with expectations for sustainable growth rates moving forward [18][19] Market Dynamics - The ASC market is not becoming more competitive in terms of asset acquisition, but the landscape is changing with consolidation among Management Services Organizations (MSOs) [22][23] - The company is well-positioned to adapt to changes in the industry, particularly with the consolidation of MSOs and the entry of large medical distributors [23] Regulatory Environment - Recent proposed reconciliation bills in Washington were perceived as less severe than expected, with strong voter sentiment against Medicaid cuts [24][25] - Tenet is focused on maintaining stable relationships with health plans despite policy uncertainties, emphasizing long-term partnerships [51][52] Hospital Business Performance - The hospital segment is seeing strong demand, with a focus on high acuity and specialty care, particularly in rural areas [32][33] - Q1 admissions increased by 2.9%, and the company is managing growth without excessive cost increases [34] Labor and Cost Management - The labor environment is stable, with manageable wage growth and retention metrics [37][38] - Contract labor usage is low, reflecting a stable workforce and effective management of staffing needs [40][41] Pricing and Revenue Outlook - Tenet is experiencing 3% to 5% rate increases from commercial plans, with good visibility into future contracts [45][46] - The company is confident in its ability to negotiate favorable pricing due to its integrated service offerings [47] Capital Deployment and Free Cash Flow - Tenet's balance sheet is strong, with reduced leverage and increased free cash flow, allowing for disciplined capital deployment in share repurchases and M&A [57][58] Additional Insights - The company is not focused on returning to pre-COVID levels but is instead prioritizing current service line priorities and market opportunities [31][32] - Tenet's strategy includes a focus on high acuity procedures and maintaining operational discipline to manage costs effectively [34][36]

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 March 31, 2025 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 (Exact name of Registrant as specified in its charter) Nevada (State of Incorporation) 95-2557091 (IRS Employer Identification ...

Financial Data and Key Metrics Changes - The company reported net operating revenues of $5.2 billion and consolidated EBITDA of $1.163 billion, representing a 14% growth over 2024 [5][12] - Adjusted EBITDA margin improved by 320 basis points to 22.3% in Q1 2025 [5][12] - Free cash flow generated in Q1 was $642 million, with $3 billion in cash on hand and no borrowings under the credit facility [15][16] Business Line Data and Key Metrics Changes - USPI generated $456 million in adjusted EBITDA, a 16% increase over Q1 2024, with same facility revenues growing by 6.8% [5][13] - The Hospital segment's adjusted EBITDA grew 12% to $707 million, with same store hospital admissions up 4.4% [6][13] - Revenue per adjusted admission in the Hospital segment increased by 2.8% [6][14] Market Data and Key Metrics Changes - The company experienced a 35% increase in exchange admissions in Q1 2025, with exchange revenues accounting for about 7% of total consolidated revenues [47][48] - The payer mix remained stable, with managed care representing around 70% of net patient revenues [46] Company Strategy and Development Direction - The company plans to invest approximately $250 million annually in M&A opportunities within the ambulatory space [8][21] - There is a focus on expanding capacity and enhancing service offerings in higher acuity areas, while maintaining operational discipline and cost management [11][94] - The company aims to continue share repurchases, particularly at current valuation multiples, leveraging strong cash flow generation [10][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year targets despite not adjusting guidance early in the year [17][18] - The company remains committed to its growth strategy and capital investments, unaffected by current healthcare policy uncertainties [11][94] - Management highlighted the importance of recruiting and retaining staff to support business growth and operational efficiency [42][43] Other Important Information - The company has significantly deleveraged its balance sheet, with a net debt to EBITDA ratio of 3.1 as of March 31, 2025 [10] - The company repurchased 2.6 million shares for $348 million in Q1 2025 [10][16] Q&A Session Summary Question: Guidance and Q1 Performance - Management confirmed no other out-of-period items besides the $40 million Medicaid supplemental revenue [24][26] - The increase in revenue per case was attributed to contracting platform improvements and a shift towards higher acuity services [26][28] Question: USPI Acquisition Pipeline - The acquisition pipeline is healthy, with a goal of deploying $250 million in investments [29][30] Question: Hospital Segment Margins - Management noted operational strength and effective expense management contributed to better-than-expected margins [34][36] Question: Labor Management Initiatives - The focus is on reducing contract labor while improving staff retention and recruitment [42][43] Question: Acuity and Payer Mix - Continued strength in acuity and payer mix was reported, with a 35% increase in exchange admissions [46][47] Question: Supply Chain and Tariffs - The company is actively engaged in managing supply costs and has no significant changes in procurement setups between ambulatory and hospital segments [83][84] Question: Margin Expansion Potential - Management believes there is potential for margin expansion through improved operating discipline and asset utilization [108][110]

Tenet Healthcare (THC) reported $5.22 billion in revenue for the quarter ended March 2025, representing a year-over-year decline of 2.7%. EPS of $4.36 for the same period compares to $3.22 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $5.14 billion, representing a surprise of +1.64%. The company delivered an EPS surprise of +40.19%, with the consensus EPS estimate being $3.11.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Financial Highlights - Consolidated Adjusted EBITDA reached $1.163 billion, exceeding the high end of the first quarter outlook[8] - Consolidated Adjusted EBITDA grew by 14%[8] - Consolidated Adjusted EBITDA margin was 22.3%[8] - Adjusted diluted EPS increased by 35%[8] Ambulatory (USPI) Performance - Adjusted EBITDA grew by 16%[8] - Same-facility revenue grew by 6.8%[10] - Adjusted EBITDA margin was 38.2%[10] - USPI Net Revenue 2025E Midpoint is $4.925 billion, with a CAGR of 14.7% from 2019[18] - USPI Adjusted EBITDA 2025E Midpoint is $1.950 billion, with a CAGR of 13.9% from 2019[19] Hospital Performance - Adjusted EBITDA, excluding divested hospitals, grew by 23%[8] - Same-hospital admissions grew by 4.4%[9] - Adjusted EBITDA margin was 17.5%[9] Full Year 2025 Outlook - Consolidated Adjusted EBITDA is projected to be between $3.975 billion and $4.175 billion[10, 11] - Net operating revenues are expected to be between $20.6 billion and $21.0 billion[11]