Tenet Healthcare Corp. Announces 47% Retreat In Q3 Earnings

(RTTNews) - Tenet Healthcare Corp. (THC) reported a profit for third quarter that retreated compared to the same period last year.

The company said its earnings dropped to $16 million, or $0.16 per share. This was lower than $30 million, or $0.29 per share, in last year's third quarter.

Analysts had expected the company to earn $0.19 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 3.4% to $4.85 billion. This was up from $4.69 billion last year.

Tenet Healthcare Corp. earnings at a glance:

-Earnings (Q3): $16 Mln. vs. $30 Mln. last year. -Earnings Decline (Y-o-Y): -46.7% -EPS (Q3): $0.16 vs. $0.29 last year. -EPS Decline (Y-o-Y): -44.8% -Analysts Estimate: $0.19 -Revenue (Q3): $4.85 Bln vs. $4.69 Bln last year. -Revenue Change (Y-o-Y): 3.4%

-Guidance: Next quarter EPS guidance: $0.17 - $0.22 Next quarter revenue guidance: $4.9 - $5.0 Bln Full year EPS guidance: $1.16 - $1.21 Full year revenue guidance: $19.65 - $19.80 Bln