Healthcare Facilities Operator Tenet Healthcare Boosts Annual Forecast On Same-store Revenue And Free Cash Flow Growth

On Tuesday, Tenet Healthcare Corporation (NYSE:THC) reported third-quarter sales of $5.12 billion, up around 1.1% year over year, beating the consensus of $5.05 billion and management guidance of $5 billion—$5.1 billion.

Tenet Healthcare operates hospitals and healthcare facilities.

The company reported adjusted EPS of $2.93, up from $1.44 a year ago, beating the guidance of $2.16-$2.58 and the consensus of $2.37.

“Our businesses continue to produce strong results and generate robust free cash flow with same-store revenue growth and profitability well above our expectations due to the focused execution of our strategy and disciplined operations,” said Saum Sutaria, Chairman and CEO of Tenet.

Adjusted EBITDA was $978 million compared to $854 million a year ago, reflecting strong ...