Tenet Healthcare Q2 Loss Widens - Quick Facts

(RTTNews) - Hospital operator Tenet Healthcare Corp. (THC) posted a wider second-quarter net loss attributable to common shareholders of $50 million after-tax, or $0.49 per share, versus a loss of $6 million after-tax, or $0.06 per share, in the previous year.

Excluding impairments, restructuring charges, acquisition-related costs, litigation and investigation costs, the loss on early extinguishment of debt, and other tax adjustments, income from continuing operations was $69 million after-tax, or $0.66 per share, in the recent period. On average, 18 analysts polled by Thomson Reuters expected earnings per share of $0.69 for the quarter. Analysts' estimates typically exclude one-time items.

Net operating revenues were $2.42 billion, up 6.9 percent, compared with $2.265 billion in the 2012 second quarter, whereas 14 analysts estimated revenues of $2.44 billion for the quarter.

Going forward, the second half guidance, excluding the expected contribution from Vanguard, is likely range between $640 million and $690 million. The outlook range for the company's third quarter adjusted EBITDA is $275 million - $325 million. The third quarter is expected to be the last quarter reported before closing the Vanguard acquisition, Tenet Healthcare stated.

For 2013, the company's new outlook range for 2013 Adjusted EBITDA is $1.25 billion - $1.30 billion. The mid-point of this range represents growth of 6 percent, compared with the $1.203 billion reported in 2012. This forecast excludes the impact of the acquisition of Vanguard Health Systems, which may close prior to year-end 2013.