Search   Advanced Search
LATEST NEWS
 
 
News
 Latest Headlines
 Quick Facts
 Breaking News
 Top Stories
 Feature Articles
 Politics
 US Policy
 General
 Commodities
 Canadian
 UK
 Indian
 Wallstreet Events
 US Economic News
 European Economic News
 Asian Economic News
 All Economic News
 FX Top Stories
 Currency Alerts
 Mkt Sensitive News
 Politics
 European Mkt Updates
 Asian Mkt Updates
 Treasury Mkt Updates
 Pop
 Rock
 Classic Rock
 Rap/Hip-Hop
 Country
 Alternative
 Oldies
 Movie Reviews
 DVD Releases
 Box Office
 Slide Shows
 Business News
Commentary/Analysis
 Daily Market Analysis
 US Market Updates
 US Commentary
 Asian Commentary
 European Commentary
 Canadian Commentary
 Indian Commentary
 Sector/Market Trends
Stock Alerts
 Stocks To Watch
 Long Term Stocks
 Before the Bell
 $5 and Under
 After the Bell
 Intraday Updates
 IPOs
 Hot Stocks
Earnings Calendars
 Upcoming Earnings
 Latest Earnings
 Pos Pre Announcements
 Neg Pre Announcements
Corporate Calendars
 Stock Splits
 Stock Buybacks
 Dividends
 Conference Calls
 FDA Calendar
 Board Meetings
 Mergers & Acquisitions
Ratings Changes
 Upgrades
 Downgrades
 Coverage Initiations
 Coverage Reiterated
 All Videos
 Market Commentary
 Top Stories
 Economic News
 Political News
 Foreign Markets
 Corporate News
 Entertainment News
 Top Stories
 Earnings
 Mergers & Acquisitions
 Market Commentary
 Economic News
 IPOs and New Issues
 Corporate News
 Forex News
 Interviews
 Private Equity
Economic Calendar
RTT DeskAlert

Font Down Font Up
Tenet Healthcare Posts Q3 Loss - Update
11/3/2009 10:23 AM ET


RELATED NEWS
Tenet Healthcare Announces Executive Appointments - Quick Facts
Conifer Revenue Cycle Reaches Deal To Expand Relationship With 12-unit Hospital System In Colorado - Quick Facts
Tenet Healthcare Q3 09 Earnings Conference Call At 10:00 AM
Tenet Healthcare Slips To Loss In Q3; Provides FY09 Guidance - Quick Facts
Conifer Revenue Cycle Solutions Appoints Chris Tyler As Chief Information Officer - Quick Facts
(RTTNews) - Hospital chain Tenet Healthcare Corp. (THC: News ) on Tuesday reported a net loss for the third quarter, hit by several unfavorable items. This compares to a profit last year that benefited from a gain on sales of investments. Revenue increased over 5% in the quarter, while total paying admissions edged down 0.1%. The company raised its full year adjusted EBITDA guidance, but reduced its net income forecast.

The Dallas, Texas-based company reported a third-quarter net loss attributable to shareholders of $3 million, compared to a profit of $104 million last year. Loss per share attributable to shareholders was $0.01, compared to a profit of $0.22 per share a year ago. For the second quarter, the company reported a net loss attributable to shareholders of $15 million or $0.03 per share.

Income from continuing operations for the third quarter plunged to $4 million or breakeven per share from $120 million or $0.25 per share reported last year.

On average, 19 analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.

The latest quarterly results wre hit by several items, including loss from discontinued operations, loss from early extinguishment of debt as well as litigation and investigation costs, with a net unfavorable impact of $18 million after-tax, or $0.04 per share. Results of the previous year included a gain of $140 million on sales of investments.

Adjusted EBITDA for the quarter increased to $240 million from $160 million for the third quarter of 2008.
Net operating revenues increased to $2.262 billion from $2.140 billion generated last year. Analysts expected revenue of $2.25 billion for the quarter. Second-quarter net operating revenues were $2.23 billion.

Operating income advanced to $133 million from last year's $70 million.

On a same-hospital continuing operations basis, Governmental Managed Care Admissions rose 9.1% and Charity Care Admissions increased 21.1%. Commercial Managed Care Admissions dropped 4.5% from the third quarter of 2008. Total admissions edged down 0.1%. Total surgery growth was 2.2%.

Net Inpatient Revenue per Admission rose 3.7%, while Net Outpatient Revenue per Visit grew 2.7%. Same-hospital bad debt ratio was 8.5% of net revenues, up 90 basis points from 7.6% in the third quarter of 2008. The company currently has 48 hospitals in same-hospital continuing operations.

To receive FREE breaking news email alerts for Tenet Healthcare Corp. and others in your portfolio


 1   2   Next Page 


Share Article:   Del.icio.us    Digg    Y! My Web    Facebook    My Space

Email        Print        

     
Top Stories
Wall Street Closes Lower For The Day, Mixed For The Week

Senate Democrats Fault GOP For Failing To Advance Alternative Health Reforms

New Guidelines Recommend Women Wait Until 21 For Cervical Cancer Screening

"New Moon" Takes Center Stage, Should Post Big Opening Weekend

Valero Energy To Permanently Shutter Delaware City Refinery - Update

Earnings
Escalon Medical Q1 Loss Widens - Quick Facts

Cordy Oilfield Services Q3 Net Loss Narrows - Quick Facts

Triton Energy Slips To Q3 Loss - Quick Facts

Electronic Game Card Revises Q3 Results - Quick Facts

Schneider Power Swings To Profit In Q3 - Quick Facts

US Market Commentary
Bay Street Stocks Slip Slightly Again - Canadian Commentary

Stocks Close Mostly Lower Amid Disappointing Quarterly Results - U.S. Commentary

Stocks Remain Stuck In The Red In Mid-Afternoon Trading - U.S Commentary

Stocks Posting Moderate Losses In Early Afternoon Trading - U.S. Commentary

Stocks Seeing Further Downside In Late Morning Trading - U.S. Commentary

US Economic News
Fed's Fisher: "Too-Big-To-Fail" Must Be Addressed

Philly Fed Index Shows Much Bigger Than Expected Increase In November

Leading Indicators Index Increases For Seventh Straight Month In October

Philly Fed Index Jumps To 16.7 In November

Leading Indicators Index Rose 0.3% In October

Political News
Christian Leaders Unveil "Call To Faith" On Life, Marriage, Religious Freedom

Senate Ethics Committee Admonishes Burris But Finds No Legal Wrongdoing

Senate Democrats Fault GOP For Failing To Advance Alternative Health Reforms

Sen. Nelson Says He Will Vote To Proceed With Debate On Health Care Bill

Sen. Gregg Calls Ron Paul's Fed Audit Amendment "Political Pandering"




 
Markets End Week In Red
11/20/09 04:51
Partisan Debate Precedes Health Reform Vote
11/20/09 03:23
Wall Street Extends Losses
11/20/09 02:13
 

Today's Stocks to Watch
SVN - 7 Days Group Holdings Ltd.
SLW - Silver Wheaton Corp.
CPQQ.OB - China Power Equipment
LIMS - STARLIMS TECHNOLOGY
SPRD - Spreadtrum Communications Inc.
HEAT - SmartHeat Inc


Profit Taking Likely To Contribute To Continued Weakness – RTTNews Daily Market Analysis
The major index futures are currently indicating a notably lower open for stocks on Friday, with the markets likely to see some further downside after closing lower in each of the two previous sessions. With no major economic data on tap for the day, traders have looked to corporate news, including disappointing quarterly results from Dell (DELL). Traders may also continue to cash in on the recent strength in the markets that lifted the major averages to their best closing levels in over a year earlier in the week.

SLIDE SHOW: Pittsburgh Plays Host To Third G-20 Summit World leaders met at the G-20 summit in Pittsburgh, where they promised to maintain economic stimulus agreed to in London in April.
  Trading Center

 

Copyright © 2009 RTTNews. All rights reserved. By using this site, you agree to the Terms of Service.

Feedback| Terms of Service | How To Use RTTNews.com| Advertise| Buy Content | RSS