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Tenet (THC) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

For the quarter ended March 2024, Tenet Healthcare (THC) reported revenue of $5.37 billion, up 6.9% over the same period last year. EPS came in at $3.22, compared to $1.42 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $5.14 billion, representing a surprise of +4.42%. The company delivered an EPS surprise of +122.07%, with the consensus EPS estimate being $1.45.

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.

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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 Operating revenues- Hospital Operations and other: $4.37 billion compared to the $4.09 billion average estimate based on three analysts. The reported number represents a change of +12.2% year over year.

  • Net Operating revenues- Ambulatory Care: $995 million versus the three-analyst average estimate of $981.60 million. The reported number represents a year-over-year change of +9.9%.

  • Net Operating revenues: $5.37 billion versus $5.12 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +6.9% change.

  • Adjusted EBITDA- Hospital Operations and other: $630 million versus the two-analyst average estimate of $449.64 million.

  • Equity in earnings of unconsolidated affiliates: $59 million versus the two-analyst average estimate of $47.71 million.

  • Adjusted EBITDA- Ambulatory Care: $394 million versus $387.16 million estimated by two analysts on average.

View all Key Company Metrics for Tenet here>>>

Shares of Tenet have returned -5% over the past month versus the Zacks S&P 500 composite's -2.5% 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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