Tenet Healthcare (THC)
NYSE:THC
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Earnings Data
Report Date
Jul 16, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
4.28Last Year’s EPS
4.02Same Quarter Last Year
Strong Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed solid financial and operational performance in Q1 — strong revenue, EBITDA, cash generation, USPI M&A activity, and demonstrated productivity/AI gains — while acknowledging notable near-term headwinds from exchange enrollment declines, lower respiratory volumes, payer disputes and some market-specific Medicaid softness. Management beat expectations for the quarter, maintained financial discipline (deleveraging and share repurchases), and reaffirmed full-year guidance while signaling they will monitor exchange effectuation and regulatory developments. Overall, positive operational momentum and financial strength outweighed the headwinds described.Company Guidance
Strong Top-Line and Profitability
Reported Q1 2026 net operating revenues of $5.4 billion and consolidated adjusted EBITDA of $1.162 billion, yielding an adjusted EBITDA margin of 21.6%.
USPI Outperformance and Growth
USPI delivered adjusted EBITDA of $484 million (6% YoY growth) with a 36.7% margin. Same-facility system-wide revenues rose 5.3%, net revenue per case increased 5.6%, and same-facility volumes were essentially stable (down 0.3%).
Hospital Segment Resilience
Hospital segment adjusted EBITDA of $678 million (16.7% margin), representing 27.5% of full-year adjusted EBITDA guidance; same-hospital inpatient adjusted admissions increased 0.6% YoY despite headwinds.
Strong Free Cash Flow and Liquidity
Generated $978 million of adjusted free cash flow in Q1, ended the quarter with $2.97 billion cash on hand, no borrowings on the revolver, and no significant debt maturities until late 2027.
Capital Return to Shareholders
Repurchased 1.35 million shares for $318 million in Q1 and signaled continued share repurchases given current valuations.
Active M&A and Capital Deployment for USPI
Invested $125 million in Q1 to acquire 7 ASCs and commenced patient care at 3 de novo centers (about half of the targeted full-year USPI M&A spend of $250 million), with a robust pipeline of potential assets.
Operational and Technology Productivity Gains
Execution of expense initiatives and technology/AI investments improved productivity and throughput—Conifer analytics productivity reportedly doubled or more; pilots include EMR integrations, ambient scribe, automated discharge summaries and autonomous professional fee coding.
Deleveraging and Financial Discipline
Reported leverage of 2.24x EBITDA (2.83x EBITDA less NCI), reaffirmed full-year guidance and stated normalized adjusted EBITDA growth expectation of ~10% at midpoint (excluding non-recurring items and premium tax credit expiration).
THC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
THC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $180.10 | $177.12 | -1.65% |
Feb 11, 2026 | $193.04 | $226.35 | +17.26% |
Oct 28, 2025 | $216.17 | $204.62 | -5.34% |
Jul 22, 2025 | $174.65 | $155.97 | -10.70% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Tenet Healthcare (THC) report earnings?
Tenet Healthcare (THC) is schdueled to report earning on Jul 16, 2026, After Close (Confirmed).
What is Tenet Healthcare (THC) earnings time?
Tenet Healthcare (THC) earnings time is at Jul 16, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is THC EPS forecast?
THC EPS forecast for the fiscal quarter 2026 (Q2) is 4.28.