Earnings summaries and quarterly performance for TENET HEALTHCARE.
Executive leadership at TENET HEALTHCARE.
Saum Sutaria
Detailed
Chief Executive Officer
CEO
LF
Lisa Foo
Detailed
Chief Operating Officer
PA
Paola Arbour
Detailed
Executive Vice President and Chief Information Officer
SP
Sun Park
Detailed
Executive Vice President and Chief Financial Officer
TA
Thomas Arnst
Detailed
Executive Vice President, Chief Administrative Officer, General Counsel and Corporate Secretary
Board of directors at TENET HEALTHCARE.
CH
Cecil Haney
Detailed
Director
CL
Christopher Lynch
Detailed
Director
JR
J. Robert Kerrey
Detailed
Lead Independent Director
JB
James Bierman
Detailed
Director
MF
Meghan FitzGerald
Detailed
Director
NW
Nadja West
Detailed
Director
RF
Richard Fisher
Detailed
Director
RM
Richard Mark
Detailed
Director
RB
Roy Blunt
Detailed
Director
SR
Stephen Rusckowski
Detailed
Director
TR
Tammy Romo
Detailed
Director
VA
Vineeta Agarwala
Detailed
Director
Research analysts who have asked questions during TENET HEALTHCARE earnings calls.
JL
Justin Lake
Wolfe Research, LLC
6 questions for THC
Also covers: AGL, CI, CNC +8 more
AH
Ann Hynes
Mizuho Financial Group
5 questions for THC
Also covers: ARDT, BTSG, CI +17 more
BR
Benjamin Rossi
JPMorgan Chase & Co.
5 questions for THC
Also covers: AMED, ARDT, AVAH +7 more
Whit Mayo
Leerink Partners
5 questions for THC
Also covers: ACHC, AHCO, ALHC +11 more
Andrew Mok
Barclays
4 questions for THC
Also covers: ACHC, ADUS, AGL +21 more
Brian Tanquilut
Jefferies
4 questions for THC
Also covers: ACHC, ADUS, AHCO +29 more
Joshua Raskin
Nephron Research
4 questions for THC
Also covers: AIRS, BKD, CI +13 more
PC
Pito Chickering
Deutsche Bank
4 questions for THC
Also covers: ACHC, AHCO, AVAH +18 more
RL
Ryan Langston
TD Cowen
4 questions for THC
Also covers: ACHC, ADUS, AGL +15 more
Stephen Baxter
Wells Fargo & Company
4 questions for THC
Also covers: AGL, BTSG, CAH +15 more
AR
A.J. Rice
UBS Group AG
3 questions for THC
Also covers: ACHC, AMED, AMN +21 more
Benjamin Hendrix
RBC Capital Markets
3 questions for THC
Also covers: ACHC, ADUS, AHCO +25 more
CH
Craig Hettenbach
Morgan Stanley
3 questions for THC
Also covers: ACCD, AMWL, ARDT +10 more
JG
Joanna Gajuk
Bank of America
3 questions for THC
Also covers: ACHC, ADUS, AGL +21 more
JR
John Ransom
Raymond James
3 questions for THC
Also covers: ACHC, ADUS, ALHC +11 more
KF
Kevin Fischbeck
Bank of America
3 questions for THC
Also covers: AMN, ARDT, CCRN +9 more
MG
Matthew Gillmor
KeyCorp
3 questions for THC
Also covers: ACHC, ADUS, ALHC +11 more
AR
A.J. Rice
UBS
2 questions for THC
Also covers: BTSG, CYH, EHC +4 more
JP
Jamie Perse
The Goldman Sachs Group, Inc.
2 questions for THC
Also covers: BTSG, CON, DOCS +8 more
Jason Cassorla
Guggenheim Partners
2 questions for THC
Also covers: ACHC, ARDT, CI +8 more
Josh Raskin
Nathron Research
2 questions for THC
Also covers: CNC, ELV, HCA +3 more
Michael Ha
Robert W. Baird & Co.
2 questions for THC
Also covers: AGL, ALHC, ASTH +7 more
Sarah James
Cantor Fitzgerald
2 questions for THC
Also covers: ACHC, AMED, CI +15 more
SF
Scott Fidel
Stephens Inc.
2 questions for THC
Also covers: ACHC, ADUS, ALHC +17 more
Thomas Walsh
Barclays
2 questions for THC
Also covers: AGL
AR
Albert Rice
UBS
1 question for THC
Also covers: ACHC, AMED, AMN +20 more
BM
Benjamin Mayo
Leerink Partners
1 question for THC
Also covers: ACHC, AGL, AMED +10 more
MM
Mike Murray
RBC Capital Markets
1 question for THC
Also covers: ADUS
Recent press releases and 8-K filings for THC.
Tenet Healthcare Announces $2.65 Billion Conifer Transaction
THC
M&A
New Projects/Investments
Share Buyback
- Tenet Healthcare announced the closing of an accretive asset sale regarding Conifer's revenue cycle management services contract with CommonSpirit, with a total value to Tenet of $2.65 billion.
- The transaction includes $1.9 billion in cash payments from CommonSpirit to Tenet over three years, starting with $540 million in the first quarter of 2026, offset by a $540 million payment from Tenet to CommonSpirit in Q1 2026 to redeem CommonSpirit's 23.8% equity stake in Conifer.
- The estimated annual Adjusted EBITDA less NCI from this contract in 2025 was approximately $190 million, and the transaction is valued at an approximate 14x multiple on this figure.
- This deal returns full strategic control of Conifer to Tenet, enabling continued investments in automation, AI, and offshoring, and is expected to lower NCI expense by approximately $100 million in 2026.
- Tenet plans to actively deploy capital to generate shareholder value, with share repurchase being an important priority, in addition to continued M&A in the ambulatory space and capital expenditures for organic growth.
2 days ago
Tenet Healthcare Announces Accretive Conifer Asset Sale
THC
M&A
Share Buyback
New Projects/Investments
- Tenet Healthcare (THC) announced the closing of an accretive asset sale regarding Conifer's Revenue Cycle Management Services contract with CommonSpirit, valuing the transaction at $2.65 billion.
- The deal involves $1.9 billion in cash payments to Tenet over three years, with $540 million due in Q1 2026, and is based on an approximate 14x multiple of the impacted $190 million estimated 2025 Adjusted EBITDA less NCI from the contract.
- The transaction returns full strategic control of Conifer to Tenet, resulting in a $100 million reduction in NCI expense in 2026 and enabling increased investments in automation and AI.
- Tenet plans to actively deploy capital to generate shareholder value, prioritizing share repurchases, M&A in the ambulatory space, and capital expenditures for organic growth.
2 days ago
Tenet Healthcare Closes Accretive Conifer Transaction
THC
M&A
Share Buyback
New Projects/Investments
- Tenet Healthcare (THC) announced the closing of an accretive asset sale regarding Conifer's Revenue Cycle Management Services contract with CommonSpirit, generating a total value to Tenet of $2.65 billion.
- This transaction involves $1.9 billion in cash payments from CommonSpirit to Tenet over three years, beginning with $540 million in Q1 2026, and the acquisition of CommonSpirit's 23.8% equity stake in Conifer.
- The deal is based on an approximate 14x multiple on the impacted 2025 Adjusted EBITDA less NCI of $190 million from the contract.
- For 2026, Tenet expects to recognize consistent adjusted EBITDA from the services and anticipates a reduction in NCI expense by approximately $100 million due to the retroactive equity transfer.
- The company plans to actively deploy capital for shareholder value, with share repurchase being an important priority, alongside M&A in the ambulatory space and capital expenditures for organic growth.
2 days ago
Tenet Healthcare Completes Conifer Health Solutions Transaction and Previews Strong 2025 Adjusted EBITDA
THC
M&A
Guidance Update
Earnings
- Tenet Healthcare Corporation completed a strategic transaction with CommonSpirit Health, regaining full ownership of its Conifer Health Solutions subsidiary.
- Key financial terms of the transaction include payments totaling approximately $1.9 billion from CommonSpirit to Tenet over three years, a $540 million redemption payment from Conifer to CommonSpirit, and a reduction of Tenet’s redeemable non-controlling interest and other liabilities by approximately $885 million.
- The company expects its Adjusted EBITDA for the year ended December 31, 2025, to be at the upper end of its guidance range of $4.47 billion to $4.57 billion.
2 days ago
Tenet Completes Conifer Transaction and Previews Strong 2025 Results
THC
M&A
Guidance Update
- Tenet Healthcare (THC) completed a strategic transaction with CommonSpirit Health to resume full ownership of Conifer Health Solutions, effective January 1, 2026. This involves payments totaling approximately $1.9 billion from CommonSpirit to Tenet over three years and an approximately $540 million redemption payment from Conifer to CommonSpirit for its 23.8% equity stake.
- The transaction is expected to reduce Tenet's redeemable non-controlling interest and other liabilities by approximately $885 million and increase its additional paid-in capital by approximately $305 million.
- Tenet estimates its Adjusted EBITDA for the year ended December 31, 2025, will be at the upper end of its guidance range of $4.47 billion to $4.57 billion.
2 days ago
Tenet Healthcare Corporation Enters New Credit Agreement and Amends LC Facility
THC
Debt Issuance
- Tenet Healthcare Corporation entered into a new Credit Agreement dated November 4, 2025, with JPMorgan Chase Bank, N.A. serving as the Administrative Agent.
- This new Credit Agreement provides Aggregate Revolving Credit Commitments totaling $1,900,000,000.00 from a syndicate of lenders.
- Concurrently, Amendment No. 7 was executed on November 4, 2025, modifying the existing Letter of Credit Facility Agreement, which was originally dated March 7, 2014, and has Barclays Bank PLC as its administrative agent.
Nov 5, 2025, 9:05 PM
Tenet Healthcare Reports Strong Q3 2025 Results and Raises FY 2025 Outlook
THC
Earnings
Guidance Update
Share Buyback
- Tenet Healthcare reported strong third quarter 2025 results, with Consolidated Adjusted EBITDA reaching $1.099 billion, representing 12% growth, and Adjusted Diluted EPS growing 26%. The Consolidated Adjusted EBITDA Margin for the quarter was 20.8%.
- The company increased its FY 2025 Adjusted EBITDA Outlook by $50 million to a new range of $4.47 to $4.57 billion and raised its Free Cash Flow – NCI Outlook by $250 million to $1.495 to $1.695 billion.
- As of September 30, 2025, the EBITDA Leverage Ratio was 2.30x (2.93x EBITDA-NCI). During Q3 2025, Tenet repurchased approximately 0.6 million shares for $93 million and acquired 11 ambulatory centers while opening 2 de novo centers.
Oct 28, 2025, 2:30 PM
Tenet Healthcare Reports Strong Q3 2025 Results and Raises Full-Year Guidance
THC
Earnings
Guidance Update
Share Buyback
- Tenet Healthcare reported strong Q3 2025 net operating revenues of $5.3 billion and consolidated adjusted EBITDA of $1.1 billion, representing a 12% increase over Q3 2024 and an adjusted EBITDA margin of 20.8%.
- The company raised its full-year 2025 adjusted EBITDA guidance to a range of $4.47 billion-$4.57 billion, an increase of $445 million at the midpoint from initial guidance, and increased full-year 2025 free cash flow minus NCI guidance to $1.495 billion-$1.695 billion.
- Both USPI and the hospital segment showed strong performance in Q3 2025, with USPI's adjusted EBITDA growing 12% year-over-year and same-facility revenues up 8.3%, while the hospital segment's adjusted EBITDA grew 13% with same-store adjusted admissions increasing 1.4%.
- The company repurchased 598,000 shares for $93 million in Q3 2025, bringing year-to-date repurchases to 7.8 million shares for $1.2 billion through September 30, 2025.
Oct 28, 2025, 2:30 PM
THC Reports Strong Q3 2025 Results and Raises Full-Year Guidance
THC
Earnings
Guidance Update
Share Buyback
- THC reported strong Q3 2025 financial results, with net operating revenues of $5.3 billion and consolidated adjusted EBITDA of $1.1 billion, representing a 12% year-over-year growth. The adjusted EBITDA margin improved to 20.8%.
- The company raised its full-year 2025 guidance for several key metrics, including adjusted EBITDA to a range of $4.47 to $4.57 billion , capital expenditures to $875 to $975 million , and free cash flow after non-controlling interest to $1.495 to $1.695 billion.
- Both segments demonstrated strong performance, with USPI's adjusted EBITDA growing 12% to $492 million and same-facility revenues increasing 8.3%. The hospital segment's adjusted EBITDA grew 13% to $607 million.
- THC continued its share repurchase program, buying back 598,000 shares for $93 million in Q3 2025, bringing the year-to-date total to 7.8 million shares for $1.2 billion through September 30, 2025.
- The company maintained a strong financial position with $2.98 billion in cash on hand and a leverage ratio of 2.3 times EBITDA as of September 30, 2025.
Oct 28, 2025, 2:30 PM
Tenet Healthcare Reports Strong Q3 2025 Results and Raises Full-Year Guidance
THC
Earnings
Guidance Update
M&A
- Tenet Healthcare reported net operating revenues of $5.3 billion and consolidated adjusted EBITDA of $1.1 billion for Q3 2025, representing 12% growth over Q3 2024 and an adjusted EBITDA margin of 20.8%.
- The company raised its full-year 2025 adjusted EBITDA guidance to a range of $4.47 billion to $4.57 billion, an increase of $445 million at the midpoint from its initial guidance.
- USPI delivered strong results, with adjusted EBITDA growing 12% year over year to $492 million in Q3 2025, and the company acquired 11 centers and opened two de novo centers during the quarter.
- Full-year 2025 guidance for free cash flow after non-controlling interest (NCI) was increased to a range of $1.495 billion to $1.695 billion, an increase of $250 million at the midpoint from previous guidance, driven by EBITDA growth and strong cash collection performance by Conifer.
- Tenet repurchased 598,000 shares for $93 million in Q3 2025, bringing year-to-date repurchases through September 30, 2025, to 7.8 million shares for $1.2 billion.
Oct 28, 2025, 2:30 PM
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