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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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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