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Tenet Healthcare (THC) Shares Surge on Q1 Earnings Beat

Tenet Healthcare Corporation THC just released their first quarter fiscal 2016 earnings results, posting earnings of $0.45 per share and revenue of $5.044 billion.

Currently, THC has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Tenet Healthcare Corporation:           

Beat earnings estimates. The company posted $0.45 per share, topping our Zacks Consensus Estimate of $0.33. This number excludes $1.05 in non-recurring items.

Beat revenue estimates. The company saw revenue figures of $5.044 billion, beating our estimate of $4.784 billion.

The company expects adjusted EBITDA to be between $2.4-$2.5 billion in fiscal 2016.

“I am delighted with Tenet’s very strong start to 2016. Our hospitals and outpatient centers generated strong growth, and the benefits of our diversified strategy are becoming increasingly evident”-CEO Trevor Fetter.

THC was up $1.61, or 5.09%, to $33.25 as of 4:43 PM ET in after hours trading shortly after its earnings report was released.

Here’s a graph that looks at Tenet’s stock price over the last year.

Tenet Healthcare Corp. is an investor-owned health care services company. The company owns or operates general hospitals and related health care facilities serving urban and rural communities in numerous states, and holds investments in other health care companies. The related health care facilities includes a small number of rehabilitation hospitals, specialty hospitals, and long-term care facilities.

Check back later for our full analysis onTenet Healthcare Corporation’s first quarter earnings report!

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