Tenet Healthcare Profit Misses Estimate, Revenue Beats

(RTTNews) - Hospital operator Tenet Healthcare Corp (THC) on Monday reported fourth-quarter net earnings to equity holders of $61 million or $0.61 per share compared with a loss of $24 million or $0.24 per share last year.

Excluding items, adjusted earnings for the quarter were $1.03 per share compared with earnings of $0.43 per share a year ago.

Revenues for the quarter were $4.47 billion compared with $3.89 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.18 per share on revenues of $4.34 billion for the quarter. Analysts' estimates typically exclude special items.

Tenet said it drove revenue growth by increasing patient volumes, improving terms in commercial managed care contracts and growing the Conifer services businesses. Also, the California Provider Fee program contributed $165 million to net operating revenues in the quarter.

For the first quarter, the company expects earnings of $0.05 to $0.55 per share on revenues of $4.3 billion to $4.5 billion. Analysts expect earnings of $0.42 per share on revenues of $4.28 billion.

For the full year 2015, Tenet projects earnings of $1.32 to $2.40 per share on revenues of $17.4 billion to $17.7 billion. Aile analysts expect $2.31 per share on revenues of $17.47 billion.