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Sep 30, 2021
Tenet Healthcare Q3 2021 Earnings Report
Tenet Healthcare's financial performance in Q3 2021 demonstrated significant improvement compared to the previous year. The company reported a substantial increase in net income and adjusted EBITDA, driven by strong performance across its operating segments.
Key Takeaways
Tenet Healthcare reported a net income of $448 million, or $4.12 per diluted share, compared to a net loss of $197 million, or $1.87 per share, in Q3 2020. Adjusted EBITDA reached $855 million, up from $551 million in the prior year. The company raised its full-year 2021 financial guidance, reflecting confidence in continued growth and strong cash flow generation.
Net income from continuing operations available to common shareholders was $448 million in Q3 2021, a significant increase from the $197 million net loss in Q3 2020.
Consolidated Adjusted EBITDA increased to $855 million in Q3 2021, compared to $551 million in Q3 2020.
Diluted earnings per share from continuing operations was $4.12 in Q3 2021, compared to a loss per share of $1.87 in Q3 2020; Adjusted diluted earnings per share from continuing operations of $1.99 in Q3 2021 compared to $0.64 in Q3 2020
Tenet raised its full-year 2021 outlook for net income, Adjusted EBITDA, and adjusted diluted earnings per share, indicating strong financial performance and positive trajectory.
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 provided its outlook for FY 2021, projecting net operating revenues between $19.5 billion and $19.8 billion, and Adjusted EBITDA between $3.275 billion and $3.325 billion.
Positive Outlook
- Net operating revenues are projected to be between $19.5 billion and $19.8 billion.
- Adjusted EBITDA is expected to be in the range of $3.275 billion to $3.325 billion.
- Diluted income per common share from continuing operations is forecasted to be between $7.09 and $7.50.
- Adjusted diluted earnings per share from continuing operations are anticipated to be between $6.15 and $6.38.
- Adjusted free cash flow is projected to be between $650 million and $850 million.
Challenges Ahead
- Interest expense is expected to be between $915 million and $925 million.
- Capital expenditures are projected to be between $675 million and $725 million.
- NCI cash distributions are estimated to be between $450 million and $470 million.
- Depreciation and amortization expenses are expected to be between $860 million and $870 million.
- Effective tax rate is estimated to be around 18%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income