Tenet Healthcare Clocks 40% Decline In This autumn Revenue, Points Q1 Steering Under Consensus


Tenet Healthcare Corp’s THC This autumn FY21 adjusted EPS got here in at $2.70, down from $4.72 a 12 months in the past.

  • Internet working income hit $4.86 billion, down 1.2% Y/Y, lacking the consensus of $5.00 billion.
  • Adjusted EBITDA was $1.02 billion versus $1.28 million posted within the final 12 months’s quarter.
  • Hospital phase revenues have been $3.91 billion, a decline of three.8% primarily because of the sale of Miami-area hospitals, partially offset by increased affected person acuity and improved pricing yield.
  • Similar-hospital internet affected person service revenues elevated 1.7% Y/Y; same-hospital internet affected person service income per adjusted admission improved 1.7%.
  • The Ambulatory phase revenues of $742 million elevated 14.3%, primarily associated to increased volumes, affected person acuity, new service line progress, and extra revenues related to the SurgCenter Improvement portfolio acquisition.
  • Surgical enterprise same-facility system-wide internet working revenues elevated 7.7%, with circumstances up 4.4% and income per case up 3.2%.
  • The corporate plans to retire the $700 million of its 7.50% senior secured notes due in 2025 utilizing obtainable money readily available. 
  • The corporate held $2.36 billion in money and money equivalents.
  • Outlook: Tenet forecasts FY22 gross sales of $19.5 billion – $19.9 billion, beneath the consensus of $20.28 billion.
  • The corporate expects adjusted EPS of $5.86 – $7.05, in comparison with the consensus of $6.62.
  • For Q1 FY22, Tenet expects adjusted EPS of $0.92- $1.15, in comparison with the consensus of $1.43, with gross sales steerage of $4.6 billion – $4.8 billion, versus the consensus of $4.98 billion.
  • Worth Motion: THC shares closed decrease by 3.90% at $70.00 on Monday.

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