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Tenet (THC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Tenet Healthcare (THC - Free Report) reported $5.07 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 5.5%. EPS of $1.44 for the same period compares to $1.44 a year ago.
The reported revenue represents a surprise of +1.00% over the Zacks Consensus Estimate of $5.02 billion. With the consensus EPS estimate being $1.20, the EPS surprise was +20.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Tenet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net patient revenue per adjusted patient admission: $13,653 versus the two-analyst average estimate of $13,918.22.
Adjusted admissions: 250.01 thousand compared to the 252.68 thousand average estimate based on two analysts.
Total consolidated facilities - Ambulatory Care: 324 versus 326 estimated by two analysts on average.
Net operating revenues- Inter-segment eliminations: -$109 million versus -$111.54 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6% change.
Net operating revenues- Hospital Operations and other: $3.92 billion versus $3.86 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3.7% change.
Net operating revenues- Ambulatory Care: $941 million compared to the $930.99 million average estimate based on four analysts. The reported number represents a change of +16.8% year over year.
Net Operating revenues- Total Conifer revenues: $315 million versus $327.60 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -5.4% change.
Net operating revenues- Conifer - Tenet: $109 million versus $108.05 million estimated by three analysts on average.
Net operating revenues- Conifer - Other customers: $206 million versus $218.41 million estimated by three analysts on average.
Net operating revenues: $5.07 billion versus the two-analyst average estimate of $5.02 billion. The reported number represents a year-over-year change of +5.5%.
Adjusted EBITDA- Hospital Operations and other: $401 million versus the three-analyst average estimate of $355.22 million.
Adjusted EBITDA- Ambulatory Care: $370 million versus the three-analyst average estimate of $364.92 million.
Shares of Tenet have returned -19.4% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Tenet (THC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Tenet Healthcare (THC - Free Report) reported $5.07 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 5.5%. EPS of $1.44 for the same period compares to $1.44 a year ago.
The reported revenue represents a surprise of +1.00% over the Zacks Consensus Estimate of $5.02 billion. With the consensus EPS estimate being $1.20, the EPS surprise was +20.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Tenet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net patient revenue per adjusted patient admission: $13,653 versus the two-analyst average estimate of $13,918.22.
- Adjusted admissions: 250.01 thousand compared to the 252.68 thousand average estimate based on two analysts.
- Total consolidated facilities - Ambulatory Care: 324 versus 326 estimated by two analysts on average.
- Net operating revenues- Inter-segment eliminations: -$109 million versus -$111.54 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6% change.
- Net operating revenues- Hospital Operations and other: $3.92 billion versus $3.86 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3.7% change.
- Net operating revenues- Ambulatory Care: $941 million compared to the $930.99 million average estimate based on four analysts. The reported number represents a change of +16.8% year over year.
- Net Operating revenues- Total Conifer revenues: $315 million versus $327.60 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -5.4% change.
- Net operating revenues- Conifer - Tenet: $109 million versus $108.05 million estimated by three analysts on average.
- Net operating revenues- Conifer - Other customers: $206 million versus $218.41 million estimated by three analysts on average.
- Net operating revenues: $5.07 billion versus the two-analyst average estimate of $5.02 billion. The reported number represents a year-over-year change of +5.5%.
- Adjusted EBITDA- Hospital Operations and other: $401 million versus the three-analyst average estimate of $355.22 million.
- Adjusted EBITDA- Ambulatory Care: $370 million versus the three-analyst average estimate of $364.92 million.
View all Key Company Metrics for Tenet here>>>Shares of Tenet have returned -19.4% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.