Tenet Healthcare Beats Q4 Earnings: But 2026 EBITDA Margin May Decline

Key Takeaways Tenet Healthcare beat Q4 EPS estimates as revenues rose 8.9% and adjusted EBITDA grew 12.9%.THC's 2026 revenue outlook tops 2025 levels, but midpoint EBITDA margin implies a slight decline.Tenet generated $2.5B free cash flow in 2025 and repurchased $1.4B in shares during the year.Tenet Healthcare Corporation (THC) reported fourth-quarter 2025 adjusted earnings per share (EPS) of $4.70, which surpassed the Zacks Consensus Estimate by 15.2%. The bottom line increased 36.6% year over year.Net op ...