Tenet Healthcare Swings To Q4 Loss

(RTTNews) - Tenet Healthcare Corp. (THC) reported a net loss for the fourth quarter of $24 million or $0.24 per share, compared to net income of $49 million or $0.45 per share for the year-ago quarter.

Loss from continuing operations for the fourth quarter was $17 million or $0.17 per share, compared to income from continuing operations of $57 million or $0.52 per share in the prior year quarter.

Excluding items, adjusted income from continuing operations for the fourth quarter was $43 million or $0.43 per share, compared to $65 million or $0.60 per share in the fourth quarter of last year.

Net operating revenues for the fourth quarter rose 66.7% to $3.89 billion from $2.33 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.37 per share on revenue of $3.87 billion for the fourth quarter. Analysts' estimates typically exclude special items.