Tenet Healthcare Q2 2024 Earnings Report
Key Takeaways
Tenet Healthcare reported strong second-quarter results, exceeding expectations with a net income of $259 million, or $2.64 per diluted share. Adjusted diluted earnings per share were $2.31. The company's consolidated Adjusted EBITDA increased by 12.1% year-over-year to $945 million. The Board of Directors authorized a new $1.5 billion share repurchase program and raised the full-year financial outlook.
Net income available to common shareholders was $259 million, or $2.64 per diluted share.
Adjusted diluted earnings per share was $2.31.
Consolidated Adjusted EBITDA of $945 million increased 12.1% over the prior year.
Ambulatory Care Adjusted EBITDA of $447 million increased 20.8% over the prior year.
Tenet Healthcare
Tenet Healthcare
Tenet Healthcare Revenue by Segment
Forward Guidance
Tenet provided financial outlook for the third quarter and full year 2024.
Positive Outlook
- Net operating revenues are expected to be in the range of $20.6 billion to $21.0 billion.
- Net income available to Tenet common stockholders is projected to be between $2.825 billion and $2.930 billion.
- Adjusted EBITDA is anticipated to be in the range of $3.825 billion to $3.975 billion.
- Diluted income per common share is expected to be between $28.83 and $29.90.
- Free cash flow is projected to be between $1.100 billion and $1.350 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income