logo
Share SHARE
FONT-SIZE Plus   Neg

Tenet Healthcare Turns To Profit In Q4 - Quick Facts

Tenet Healthcare Corp. (THC) reported that its fourth-quarter net income attributable to common shareholders was $49 million, or $0.45 per share, compared to a loss of $76 million, or $0.70 per share, in the fourth quarter of 2011. The prior year quarter results included an after-tax loss of $74 million due to the early extinguishment of debt, or $0.68 per share.

Net operating revenues were $2.331 billion, an increase of $159 million, or 7.3 percent, compared to net operating revenues of $2.172 billion in the fourth quarter of 2011.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.68 per share on revenues of $2.34 billion for the quarter. Analysts' estimates typically exclude special items.

Total net patient revenue per adjusted admission was $11,866, an increase of 2.8 percent. This pricing increase primarily reflected improved terms in its contracts with commercial managed care payers, as well as higher Medicare reimbursement rates that became effective on October 1, partially offset by a softer payer mix.

For the first quarter of 2013, the company expects Adjusted EBITDA to be in the range of $250 million to $290 million. This first quarter Outlook excludes any contribution related to the managed care portion of the 30 month California Provider Fee program, which is now expected to contribute $53 million to Adjusted EBITDA in our quarter ending June 30, 2013.

The company confirmed its previously announced Outlook for 2013 Adjusted EBITDA of $1.325 billion to $1.425 billion. The $1.375 billion mid-point of this Outlook range is slightly above the current consensus estimate.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Marks & Spencer Group plc were losing around 8 percent in the early morning trading in London, after the retailer reported lower profit in its fiscal 2016, hurt mainly by weak results at clothing & Home segment and lower UK LFL sales. Looking ahead, the company warned about profit, and said it sees a similar sales trend in fiscal 2017. The next iPhone to come out in 2017 may have a much clearer screen. As per reports, the iPhone 7 will use AMOLED technology in their new model, which will also sport a bigger 5.8-inch screen. It was also reported that the suppliers are already gearing up for a huge jump in orders. Best Buy Co., Inc. (BBY) reported first-quarter non-GAAP earnings per share from continuing operations of $0.44, an increase of 19% from $0.37, a year ago. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $0.35 for the quarter. Analysts' estimates typically...
comments powered by Disqus
Follow RTT