Tenet Healthcare Corp. Q3 Profit Decreases, but beats estimates

(RTTNews) - Tenet Healthcare Corp. (THC) released a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $131 million, or $1.16 per share. This compares with $448 million, or $4.12 per share, in last year's third quarter.

Excluding items, Tenet Healthcare Corp. reported adjusted earnings of $162 million or $1.44 per share for the period.

Analysts on average had expected the company to earn $1.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.8% to $4.80 billion from $4.89 billion last year.

Tenet Healthcare Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $131 Mln. vs. $448 Mln. last year. -EPS (Q3): $1.16 vs. $4.12 last year. -Analyst Estimates: $1.24 -Revenue (Q3): $4.80 Bln vs. $4.89 Bln last year.

-Guidance: Next quarter EPS guidance: $1.00 to $1.54 Next quarter revenue guidance: $4.816 to $5.016 Bln Full year EPS guidance: $5.88 to $6.42 Full year revenue guidance: $19.00 to $19.20 Bln