Tenet Healthcare Corp Stock Price, News & Analysis

Tenet Healthcare Corporation (NYSE: THC) is set to present at the BofA Securities 2023 Health Care Conference in Las Vegas, NV, on Tuesday, May 9, 2023, starting at 9:20 a.m. Pacific Time (12:20 p.m. Eastern Time). A live webcast and audio archive will be available in the investor relations section of Tenet's website.

Tenet Healthcare, headquartered in Dallas, operates a diversified healthcare services network, which includes United Surgical Partners International, featuring over 465 ambulatory surgery centers. The company also manages 61 acute care and specialty hospitals and provides revenue cycle management through its Conifer Health Solutions subsidiary. Tenet is committed to delivering quality care across the communities it serves.

Tenet Healthcare Corporation (NYSE: THC) reported a net income from continuing operations of $143 million, or $1.32 per diluted share, for Q1 2023, marking an increase from $139 million and $1.27 per diluted share in Q1 2022. The Adjusted EBITDA for the same period was $832 million, slightly down from $888 million in the previous year. The company experienced a 21.4% growth in its Ambulatory Care Adjusted EBITDA of $340 million. Q1 2023 revenues rose to $5.021 billion compared to $4.745 billion in Q1 2022. Looking ahead, the FY 2023 Adjusted EBITDA Outlook is raised to $3.210 billion to $3.410 billion. Tenet's results reflect a focus on expanding specialty care, despite challenges in COVID-related volumes and increased income tax expenses.

Tenet Healthcare Corporation (NYSE: THC) will announce its first quarter 2023 results on April 25, 2023, before the market opens. Following this, a conference call will take place at 9:00 a.m. CT (10:00 a.m. ET). Investors can access a live webcast and an audio archive of the call via the investor relations section of Tenet's website.

Tenet is a diversified healthcare services company based in Dallas, operating 61 hospitals and more than 465 ambulatory surgery centers. Its subsidiary, Conifer Health Solutions, provides essential services to various healthcare clients.

Tenet Healthcare Corporation (NYSE: THC) will present at the Barclays Global Healthcare Conference on March 14, 2023, at 9:30 a.m. Eastern time. Investors can access a live webcast and audio archive via the investor relations section of Tenet's website. The replay will be available for 30 days.

Headquartered in Dallas, Tenet is a diversified healthcare services company with a wide range of facilities, including over 465 ambulatory surgery centers. The company operates 61 acute care and specialty hospitals and offers revenue cycle management through its subsidiary, Conifer Health Solutions.

Tenet Healthcare Corporation (NYSE: THC) reported a fourth quarter 2022 net income of $102 million, or $0.92 per diluted share, down from $250 million in the same quarter of 2021. Adjusted EBITDA for the quarter was $897 million, including $40 million of grant income. Ambulatory Care adjusted EBITDA grew 18.7% year-over-year. The company repurchased 5.9 million shares for $250 million. For FY 2023, Tenet expects adjusted EBITDA between $3.160 billion and $3.360 billion. Challenges included lower COVID-related volumes and elevated labor costs contributing to reduced profitability.

United Surgical Partners International (USPI), a subsidiary of Tenet Healthcare (NYSE: THC), has expanded its partnership with Providence, a not-for-profit health system. This new development agreement aims to enhance the quality and access to ambulatory surgical services in various communities, particularly in California and Washington. The partnership builds upon a long-standing relationship initiated in 2004, which has already resulted in five ambulatory surgery centers. The collaboration will focus on improving patient care and exploring further opportunities for joint ventures in the Western U.S. throughout 2023 and 2024.

Tenet Healthcare Corporation (NYSE: THC) anticipates exceeding the midpoint of its FY22 Adjusted EBITDA Outlook, projected at $3.425 billion, despite not finalizing all financials. CEO Saum Sutaria highlighted strong management capabilities across all business units. Leadership updates include the retirement of key executives, with ongoing searches for successors. Daniel Cancelmi and Brett Brodnax will retire at the end of 2023, while Roger Davis will step down in Q1 2023. New promotions within operational leadership aim to enhance strategic execution and operational consistency, reinforcing Tenet's commitment to performance.