Compared to Estimates, Tenet (THC) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, Tenet Healthcare (THC) reported revenue of $5.08 billion, up 9.6% over the same period last year. EPS came in at $1.44, compared to $1.50 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.9 billion, representing a surprise of +3.70%. The company delivered an EPS surprise of +14.29%, with the consensus EPS estimate being $1.26.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Tenet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Adjusted admissions: 248.59 thousand versus the three-analyst average estimate of 247.29 thousand.
Total consolidated facilities - Ambulatory Care: 320 versus 319 estimated by two analysts on average.
Net operating revenues- Hospital Operations and other: $3.92 billion versus $3.80 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.6% change.
Net Operating revenues- Total Conifer revenues: $323 million compared to the $328.22 million average estimate based on four analysts. The reported number represents a change of -3% year over year.
Net operating revenues- Ambulatory Care: $942 million compared to the $880.33 million average estimate based on four analysts. The reported number represents a change of +22.2% year over year.
Net operating revenues- Inter-segment eliminations: -$105 million versus -$108.09 million estimated by three analysts on average.
Net operating revenues- Conifer - Tenet: $105 million versus $108.06 million estimated by three analysts on average.
Net operating revenues- Conifer - Other customers: $218 million versus $220.23 million estimated by three analysts on average.
Net operating revenues: $5.08 billion versus the two-analyst average estimate of $4.89 billion.
Adjusted EBITDA- Hospital Operations and other: $388 million versus the three-analyst average estimate of $362.88 million.
Adjusted EBITDA- Ambulatory Care: $370 million compared to the $352.84 million average estimate based on three analysts.
Adjusted EBITDA- Conifer: $85 million versus the three-analyst average estimate of $82.70 million.
View all Key Company Metrics for Tenet here>>>
Shares of Tenet have returned -8.6% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Tenet Healthcare Corporation (THC) : Free Stock Analysis Report