THC - Why Is Hospital Chain Operator Tenet Healthcare Stock Soaring On Tuesday? | Benzinga
On Tuesday, Tenet Healthcare Corporation (NYSE:THC) reported first-quarter sales of $5.37 billion, up around 7% year over year, beating the consensus of $5.15 billion. Tenet Healthcare operates hospitals and healthcare facilities.
“We have had an outstanding start to the year highlighted by strong growth in revenues, admissions, and profitability,” said Saum Sutaria, M.D., Chairman and Chief Executive Officer of Tenet.
Adjusted EBITDA in first-quarter 2024 was $1.024 billion compared to $832 million a year ago, reflecting strong same-hospital admission growth, favorable payer mix, and improved contract labor costs, partially offset by