Tenet Q3 Results Top Estimates

(RTTNews) - Tenet Healthcare Corp. (THC) reported net income for the third quarter of $9 million or $0.09 per share, compared to $28 million or $0.27 per share for the year-ago quarter.

Income from continuing operations for the third quarter was $10 million or $0.10 per share, compared to $33 million or $0.32 per share in the prior year quarter.

Excluding items, adjusted income from continuing operations for the third quarter was $36 million or $0.36 per share, compared to $46 million or $0.45 per share in the third quarter of last year.

Net operating revenues for the third quarter jumped 73.5% to $4.18 billion from $2.41 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.10 per share on revenue of $4.02 billion for the third quarter. Analysts' estimates typically exclude special items.

The company now expects 2014 Adjusted EBITDA of $1.90 to $1.95 billion, compared to its prior Outlook of $1.85 to $1.95 billion. Based on this outlook for 2014 Adjusted EBITDA, the outlook for 2014 earnings per share is in a range of $1.26 to $1.78 per share. Analysts currently expect the company to earn $1.42 per share for the full year 2014.