Tenet Healthcare Corporation Misses Estimates

released its Q2 results after market close on Monday. Earnings per share came in below Wall Street consensus expectations,sending shares down 2.28 percent. Tenet Healthcare reported EPS of $0.38 and revenues of $4.202 billion. Analyst consensus had an EPS estimate of $0.52 and revenues of $4.83 billion. Tenet's same-hospital exchange admissions were 5,478 in the second quarter of 2016, up 14.9 percent from the second quarter of 2015. Same-hospital exchange outpatient visits were 52,020, up 30.5 percent from the second quarter of 2015. "Our Conifer Health and USPI subsidiaries performed well and both achieved double-digit revenue growth. We are pleased with the progress we are making on our core strategies across all three business segments and remain on track to meet our Adjusted EBITDA Outlook for the year" stated Trevor Fetter, CEO.

Tenet management saw FY16 sales at $19.5-19.8 billion and adjusted earnings per share of $1.32-$1.67 vs. $1.93 estimates. At the time of writing, Tenet Healthcare traded at $28.25 in Monday's after-hours session, down 2.28 percent.