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Jun 30, 2022
Tenet Healthcare Q2 2022 Earnings Report
Tenet Healthcare's financial performance remained strong despite facing a cybersecurity incident, with Ambulatory segment revenues increasing and Adjusted EBITDA reaffirmed for 2022.
Key Takeaways
Tenet Healthcare Corporation reported its Q2 2022 results, showing a net income of $38 million and an Adjusted EBITDA of $843 million. The company reaffirmed its 2022 Adjusted EBITDA outlook. The Ambulatory segment saw revenue growth, while the Hospital segment was impacted by a cybersecurity incident.
Net income from continuing operations available to common shareholders was $38 million in Q2 2022, compared to $120 million in Q2 2021.
Consolidated Adjusted EBITDA was $843 million in Q2 2022, versus $834 million in Q2 2021.
USPI Adjusted EBITDA grew 15.3 percent over Q2 2021 excluding grant income.
The cybersecurity incident had an unfavorable impact of approximately $100 million to Adjusted EBITDA during Q2 2022.
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 provides financial outlook for FY 2022 and Q3 2022.
Positive Outlook
- Net operating revenues are expected to be between $19,000 million and $19,400 million for FY 2022.
- Adjusted EBITDA is projected to be in the range of $3,375 million to $3,575 million for FY 2022.
- Diluted income per common share from continuing operations is anticipated to be between $3.35 and $4.91 for FY 2022.
- Adjusted diluted earnings per share from continuing operations are expected to be between $5.80 and $7.00 for FY 2022.
- Free cash flow is projected to be between $375 million and $625 million for FY 2022.
Challenges Ahead
- The effective tax rate is estimated to be approximately 24%.
- Interest expense is projected to be between $880 million and $890 million.
- Depreciation and amortization expenses are expected to be between $840 million and $860 million.
- Capital expenditures are projected to be between $725 million and $775 million.
- Net income available to NCI is projected to be between $590 to $630
Revenue & Expenses
Visualization of income flow from segment revenue to net income