Tenet Q4 ambulatory net operating revenue totals $478M — 18 points

Dallas-based Tenet Healthcare Corp. reported a double-digit increase in ambulatory net operating revenue during the fourth quarter of fiscal year 2016.

Here are 18 points on how the ASC management company fared in Q4:

Ambulatory segment
1. Tenet generated net operating revenue totaling $478 million, up 20.4 percent from Q4 fiscal year 2015.

2. The ambulatory segment had an adjusted EBITDA of $183 million, a 15.8 percent increase from $158 million in Q4 2015.

3. Ambulatory revenue jumped 5.9 percent on a same-facility system-wide basis.

Overall company results
4. The company had net losses from continuing operations totaling $79 million. This figure is an improvement from Q4 2015, which had losses reaching $100 million.

5. The adjusted EBITDA remained steady at $613 million for both Q4 2015 and 2016.

6. Tenet's adjusted net income from continuing operations was $6 million, or $0.06 per diluted share.

Hospital segment
7. Net operating revenue was $4.14 billion, a 6.3 percent increase from Q4 2015.

8. Compared to Q4 last year, patient revenue rallied 3.2 percent, hitting $3.78 on a same-hospital basis.

9. Adjusted EBITDA totaled $358 million, down from $394 million in Q4 2015. Tenet attributes the drop to less EHR incentives and acquisitions compared to 2015.

Uncompensated care
10. Tenet's uncompensated care costs hit $1.33 billion in Q4 2016, down from $1.42 billion in Q4 2015.

11. Tenet had provisions for doubtful accounts reaching $354 million in Q4.

Conifer segment
12. Revenue was up 4.7 percent, totaling $402 million.

13. The conifer segment had adjusted EBITDA of $72 million, an 18 percent increase from $61 million in Q4 2016.

Cash flow and liquidity
14. As of Dec. 31, 2016, cash and cash equivalents were $716 million. This is up from cash and cash equivalents of $649 million as of Sept. 30, 2016.

15. Net operating activities provided $558 million in net cash as of Dec. 31, 2016.

2017 outlook
16. Tenet expects revenue between $19.7 billion and $20.1 billion.

17. The company expects between $107 million and $133 million in net income from continuing operations attributable to Tenet common shareholders.

18. Tenet anticipates adjusted EBITDA to fall between $2.5 billion and $2.6 billion.

"Demand for higher acuity services in our hospitals drove growth in same-hospital patient revenue and revenue per adjusted admission in the fourth quarter," said Trevor Fetter, Tenet CEO and chairman. "Our ambulatory and conifer health businesses delivered strong revenue and Adjusted EBITDA growth. Our expectations for continued growth in 2017 reflect confidence in our strategy to strengthen our hospital portfolio, expand our network of ambulatory facilities, and solidify conifer's leadership in healthcare business services."

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