Tenet Healthcare Q1 Results Top Estimates; Backs FY15 Views

(RTTNews) - Hospital operator Tenet Healthcare Corp. (THC) reported net income for the first quarter of $47 million or $0.47 per share, compared to a net loss of $32 million or $0.33 per share for the year-ago quarter.

Income from continuing operations for the first quarter was $46 million or $0.46 per share, compared to a loss from continuing operations of $27 million or $0.28 per share in the prior year quarter.

Excluding items, adjusted income from continuing operations for the first quarter was $67 million or $0.67 per share, compared to an adjusted loss from continuing operations of $12 million or $0.12 per share in the first quarter of last year.

Net operating revenues, after provision for doubtful accounts, for the first quarter rose 12.8% to $4.43 billion from $3.93 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.32 per share on revenue of $4.32 billion for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts earnings per share of $0.15 to $0.64. Analysts currently expect the company to earn $0.37 per share for the second quarter.

The company confirmed its existing Outlook for 2015, including revenue of $17.4 billion to $17.7 billion and earnings per share of $1.32 to $2.40 per share. Analysts currently expect the company to earn $1.98 per share on revenue of $17.64 billion for the full year 2015.