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Tenet Healthcare
🇺🇸 NYSE:THC
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Dec 31, 2023

Tenet Healthcare Q4 2023 Earnings Report

Tenet Healthcare's Q4 2023 earnings were reported, demonstrating strong performance driven by revenue growth and operating management.

Key Takeaways

Tenet Healthcare reported strong Q4 2023 results, with net income from continuing operations available to common shareholders at $244 million, or $2.30 per diluted share. Adjusted diluted earnings per share from continuing operations was $2.68. Consolidated Adjusted EBITDA increased by 12.8% year-over-year to $1.012 billion.

Net income from continuing operations available to common shareholders was $244 million, or $2.30 per diluted share.

Adjusted diluted earnings per share from continuing operations was $2.68.

Consolidated Adjusted EBITDA of $1.012 billion increased 12.8% over the prior year.

Ambulatory Care Adjusted EBITDA increased 14.0% over the prior year to $464 million.

Total Revenue
$5.38B
Previous year: $4.99B
+7.8%
EPS
$2.42
Previous year: $0.97
+149.2%
Admissions growth
1%
Previous year: 0.5%
+100.0%
Gross Profit
$721M
Previous year: $4.13B
-82.5%
Cash and Equivalents
$1.23B
Previous year: $858M
+43.1%
Free Cash Flow
$616M
Previous year: $131M
+370.2%
Total Assets
$28.3B
Previous year: $27.2B
+4.3%

Tenet Healthcare

Tenet Healthcare

Tenet Healthcare Revenue by Segment

Forward Guidance

Tenet provided its outlook for full year 2024 and first quarter 2024, reflecting the sale of South Carolina hospitals and assuming the sale of California hospitals.

Positive Outlook

  • Net operating revenues are projected to be between $19.9 billion and $20.3 billion for FY 2024.
  • Adjusted EBITDA is expected to be in the range of $3.285 billion to $3.485 billion for FY 2024.
  • Diluted income per common share from continuing operations is projected to be between $20.69 and $23.02 for FY 2024.
  • Adjusted diluted earnings per share from continuing operations are expected to be between $5.76 and $6.90 for FY 2024.
  • Equity in earnings of unconsolidated affiliates is projected to be between $220 million and $230 million for FY 2024.

Challenges Ahead

  • Net operating revenues are projected to be between $5.0 billion and $5.2 billion for Q1 2024.
  • Adjusted EBITDA is expected to be in the range of $800 million to $850 million for Q1 2024.
  • Diluted income per common share from continuing operations is projected to be between $16.59 and $17.83 for Q1 2024.
  • Adjusted net income from continuing operations is projected to be between $130 million and $170 million for Q1 2024.
  • Adjusted diluted earnings per share from continuing operations are expected to be between $1.24 and $1.62 for Q1 2024.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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