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Sep 30, 2020
Tenet Healthcare Q3 2020 Earnings Report
Tenet Healthcare's Q3 2020 earnings were reported, showing a net loss but improved cash flow and EBITDA before grant income reversal.
Key Takeaways
Tenet Healthcare reported a net loss from continuing operations attributable to common shareholders of $197 million for Q3 2020. However, the company saw growth in net cash from operations and free cash flow. Adjusted EBITDA was $621 million excluding a $70 million reversal of COVID stimulus grant income.
Net loss from continuing operations attributable to common shareholders in 3Q20 was $197 million, including an after-tax loss of $237 million from early retirement of debt.
Debt refinancing in 3Q20 eliminated significant debt maturities until June 2023 and reduces future annual cash interest expense by approximately $50 million.
Consolidated Adjusted EBITDA in 3Q20 was $621 million excluding a $70 million reversal of COVID stimulus grant income, or $551 million including the grant income reversal.
Net cash from operations was $593 million in 3Q20, and free cash flow was $507 million.
Revenue by Segment
Forward Guidance
Tenet Healthcare did not provide specific forward guidance in this earnings report. The report focused on the challenges and achievements of the third quarter of 2020, as well as strategic initiatives.
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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