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Jun 30, 2021
Tenet Healthcare Q2 2021 Earnings Report
Tenet Healthcare's Q2 2021 results reflected long-term strategy and transformation progress.
Key Takeaways
Tenet Healthcare reported a strong second quarter in 2021, with net income from continuing operations available to common shareholders of $120 million, or $1.11 per diluted share, compared to $88 million, or $0.83 per diluted share, in Q2 2020. Adjusted EBITDA was $834 million, and adjusted diluted earnings per share from continuing operations were $1.59. The company raised its full-year 2021 financial guidance, citing continued growth, operational improvements, and grant income.
Net income from continuing operations available to common shareholders in Q2 2021 was $120 million, compared to $88 million in Q2 2020.
Consolidated Adjusted EBITDA in Q2 2021 was $834 million versus $732 million in Q2 2020.
Diluted earnings per share from continuing operations available to common shareholders in Q2 2021 was $1.11 compared to $0.83 in Q2 2020; Adjusted diluted earnings per share from continuing operations of $1.59 in Q2 2021 compared to $1.26 in Q2 2020.
The FY 2021 Outlook was increased due to continued growth and operational improvements as well as grant income.
Tenet Healthcare
Tenet Healthcare
Tenet Healthcare Revenue by Segment
Revenue by Segment
Ambulatory Care Revenue
CapyFin.comHospital Operations and Services Revenue
CapyFin.com Forward Guidance
Tenet Healthcare raised its full-year 2021 outlook, expecting net operating revenues between $19.250 billion and $19.650 billion, Adjusted EBITDA between $3.150 billion and $3.250 billion, and Adjusted diluted earnings per share between $5.23 and $5.73.
Positive Outlook
- Net operating revenues are expected to be between $19,250 million and $19,650 million.
- Adjusted EBITDA is projected to be between $3,150 million and $3,250 million.
- Diluted income per common share from continuing operations is anticipated to be between $6.25 and $7.17.
- Adjusted net income from continuing operations is expected to be between $570 million and $625 million.
- Adjusted diluted earnings per share from continuing operations are projected to be between $5.23 and $5.73.
Challenges Ahead
- Interest expense is expected to be between $935 million and $945 million.
- Depreciation and amortization are projected to be between $850 million and $870 million.
- Capital expenditures are estimated to be between $700 million and $750 million.
- NCI cash distributions are expected to be between $460 million and $480 million.
- Effective tax rate is projected to be ~17%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income