Tenet: Q3 Earnings Snapshot
DALLAS (AP) — DALLAS (AP) — Tenet Healthcare Corp. (THC) on Monday reported third-quarter profit of $101 million.
The Dallas-based company said it had profit of 94 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.44 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.
The hospital operator posted revenue of $5.07 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $5.02 billion.
For the current quarter ending in December, Tenet expects its per-share earnings to range from $1.12 to $1.74. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.84.
The company said it expects revenue in the range of $5.13 billion to $5.33 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $5 billion.
Tenet expects full-year earnings in the range of $5.43 to $6.05 per share, with revenue ranging from $20.3 billion to $20.5 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on THC at https://www.zacks.com/ap/THC