THC - Tenet plunges 15% as Q4 revenue EBITDA estimates miss consensus projections

• Tenet Healthcare ( NYSE: THC ) is down 15% in after-hours trading after reporting in its Q3 2022 earnings release that its Q4 2022 revenue and EBITDA estimates are below Street consensus expectations.
• The hospital and health care facilities operator expects Q4 net operating revenues of $4.82B to $5.02B. Consensus is $5.06B.
• Tenet ( THC ) also expects Q4 adjusted EBITDA of $803M to $903M. Consensus is $940.6M.
• In Q3, Tenet ( THC ) beat on the bottom line , and came in-line on the top.
• Revenue in the quarter dropped ~2% compared to the prior-year period to $4.8B.
• Net income dropped ~54% year over year to $268M ($1.16 diluted EPS Q3 2022 vs. $4.13 diluted EPS Q3 2021).
• Tenet ended the quarter with cash and cash equivalents of ~$1.2B, a ~49% decrease from Q3 2021.
• Seeking Alpha's Quant Rating views Tenet Healthcare ( THC ) as a hold with high marks for profitability and valuation .

For further details see: