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Dec 31, 2020
Tenet Healthcare Q4 2020 Earnings Report
Tenet Healthcare reported fourth quarter 2020 results, announced a plan to retire $478 million of debt, and provided 2021 financial guidance.
Key Takeaways
Tenet Healthcare Corporation reported a net income from continuing operations available to common shareholders of $414 million in Q4 2020, compared to a net loss of $3 million in Q4 2019. Adjusted EBITDA for Q4 2020 was $832 million excluding grant income, or $1.278 billion including grant income. The company plans to retire $478 million of debt and anticipates annual interest savings of approximately $33 million.
Net income from continuing operations available to common shareholders in 4Q20 was $414 million, compared to a net loss of $3 million in 4Q19.
Consolidated Adjusted EBITDA in 4Q20 was $832 million excluding $446 million of COVID stimulus grant income, or $1.278 billion including the grant income, versus $799 million in 4Q19.
Diluted earnings per share from continuing operations available to common shareholders in 4Q20 was $3.86 compared to a loss per share of $0.03 in 4Q19; Adjusted diluted earnings per share from continuing operations was $4.72 in 4Q20 compared to $0.95 in 4Q19.
The company plans to retire $478 million of 7% senior unsecured notes due 2025, expecting annual interest savings of approximately $33 million.
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’s Outlook for FY 2021 and 1Q21 anticipates continuing recovery from the pandemic and growth from operational improvements.
Positive Outlook
- Net operating revenues are projected to be between $19.2 billion and $19.6 billion.
- Adjusted EBITDA is expected to be in the range of $2.9 billion to $3.1 billion.
- Diluted income per common share from continuing operations is estimated to be between $2.09 and $3.81.
- Adjusted net income from continuing operations is projected to be between $380 million and $520 million.
- Adjusted free cash flow is anticipated to be between $525 million and $725 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income