Tenet Healthcare hit by write-downs — 6 notes

Tenet Healthcare was hit by $136 million in write-downs, acquistion-related costs and other one-time items, according to Market Watch.

Advertisement

Here are six things to know:

1. Tenet lost $61 million for the April to June period, compared with a loss of $26 million the year prior.

2. The company’s per-share earnings from continuing operations increased to 75 cents from 17 cents, excluding write-downs, acquisition-related costs, restructuring changes and other items.

3. Revenue rose 11 percent to $4.5 billion, surpassing analysts’ expectations of $4.4 billion.

4. Tenet forecasted per-share earnings of five cents to 49 cents for the current quarter.

5. The company forecasted revenue of $4.7 billion to $4.9 billion for the current quarter.

6. Tenet increased its revenue guidance to $18.1 billion to $18.5 billion from its previous estimate for $17.4 billion to $17.7 billion.

More on surgery centers:
St. Mary Mercy Livonia to open new surgery center
Truecare Surgery Center opens in California: 4 things to know
Apex Surgical Center opens in New York: 5 key points

At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.

Advertisement

Next Up in ASC Transactions & Valuation Issues

Advertisement

Comments are closed.