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Tenet Revenues Rise in 3Q – Analyst Blog
Zacks Market Commentaries (November 3rd, 2009) Writes:
Tenet Healthcare Corporation (THC) reported third-quarter earnings of $4 million or breakeven per share compared to the Zacks Consensus Estimate of a loss of 2 cents. The company earned $120 million or 25 cents per share in the year-ago quarter.
Net operating revenues for the quarter increased 5.7% to $2.262 billion from $2.140 billion last year.
The company exited the quarter with cash and cash equivalents of $731 million, which reflected an increase of $224 million since Dec. 31, 2008. Capital expenditures for the quarter were $91 million.
Same-Hospital Data
Revenues increased 5.2 %to $2.24 billion on a same-hospital basis. Same-hospital data does not include Sierra Providence East Medical Center in El Paso, TX, which opened on May 21, 2008. Currently, there are 48 hospitals in same-hospital operations.
Total admissions in the reported quarter recorded a marginal increase of 0.1% as compared to ...
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