Tenet Healthcare Corp. Q4 Profit Decreases, but beats estimates

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

The company's earnings came in at $249 million, or $2.29 per share. This compares with $414 million, or $3.86 per share, in last year's fourth quarter.

Excluding items, Tenet Healthcare Corp. reported adjusted earnings of $294 million or $2.70 per share for the period.

Analysts on average had expected the company to earn $1.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.2% to $4.86 billion from $4.92 billion last year.

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

-Earnings (Q4): $249 Mln. vs. $414 Mln. last year. -EPS (Q4): $2.29 vs. $3.86 last year. -Analyst Estimates: $1.49 -Revenue (Q4): $4.86 Bln vs. $4.92 Bln last year.

-Guidance: Next quarter EPS guidance: $0.92 - $1.15 Next quarter revenue guidance: $4.60 - $4.80 Bln