Tenet Q2 Results Top Estimates

(RTTNews) - Hospital operator Tenet Healthcare Corp. (THC) reported a net loss for the second quarter of $61 million or $0.61 per share, compared to a net loss of $26 million or $0.27 per share for the year-ago quarter.

Excluding items, adjusted net income from continuing operations for the second quarter was $76 million or $0.75 per share, compared to $17 million or $0.17 per share in the prior year quarter.

Net operating revenues, after the provision for doubtful accounts, rose 11.2% to $4.49 billion in the second quarter from $4.04 billion in the second quarter of last year.

Analysts polled by Thomson Reuters expected the company to earn $0.44 per share on revenue of $4.40 billion for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, Tenet forecasts net operating revenues of $4.65 billion to $4.85 billion and Adjusted earnings per share of $0.05 to $0.49. Analysts currently expect the company to earn $0.40 per share on revenue of $4.56 billion for the third quarter.

For the full year 2015, Tenet now forecasts net operating revenues of $18.1 billion to $18.5 billion and adjusted earnings per share of $1.32 to $2.21. Previously, the company forecast revenue of $17.4 billion to $17.7 billion and earnings per share of $1.32 to $2.40. Analysts currently expect the company to earn $2.29 per share on revenue of $18.19 billion for the full year 2015.