Tenet Says Earnings to Exceed Expectations
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Tenet Healthcare Corp., the No. 2 U.S. hospital operator, said its fiscal first-quarter earnings will top estimates and it will record an after-tax charge for the early retirement of debt in the quarter of about $69 million.
The Santa Barbara-based company said it expects to report operating earnings of 65 cents to 67 cents a share for the quarter ended August, compared with analysts’ consensus estimate of 61 cents.
Tenet cited above-average growth in admissions, a continued strong pricing environment, effective cost controls and superb cash flow trends for its improved results.
The news was released after markets closed. Tenet shares fell 50 cents to $54.50 on the NYSE.
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