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Jun 30, 2020
Tenet Healthcare Q2 2020 Earnings Report
Tenet Healthcare's performance was impacted by COVID-19 and supported by federal stimulus.
Key Takeaways
Tenet Healthcare reported net income from continuing operations available to common shareholders of $88 million, or $0.83 per diluted share, in 2Q20. The company's results were significantly impacted by the COVID-19 pandemic, but were partially offset by cost-reduction initiatives and grant income from stimulus relief funds. The financial support of the CARES Act provided an important bridge to minimize the financial crisis the pandemic created, allowing uninterrupted care for our patients and communities.
Net income from continuing operations available to common shareholders of $88 million, or $0.83 per diluted share, in 2Q20 versus net income from continuing operations of $24 million, or $0.23 per diluted share, in 2Q19
Consolidated Adjusted EBITDA of $732 million in 2Q20 versus $669 million in 2Q19
Federal stimulus support received was critical in addressing pandemic challenges, allowing uninterrupted response across our care facilities
Experienced pronounced volatility in monthly volumes associated with COVID-19 during 2Q20, including restrictions on elective procedures, with April lows followed by substantial improvement in May and June
Revenue by Segment
Forward Guidance
On April 2, 2020, Tenet withdrew its 2020 Financial Outlook due to the impact of the COVID-19 pandemic upon the Company's ability to forecast its results with precision in the near term.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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