Tenet Healthcare Beats Q3 Estimates, Expects 2009 Adjusted EBITDA Between $925M and $975M (THC)
THC | Quote | Chart | News | PowerRating -- 11/3/2009 - Tenet Healthcare (NYSE:THC) reported Q3 EPS of $0.03, ex-items, beating consensus analyst estimates for a loss of $0.02. Revenue for the quarter rose 5.7% year-over-year to $2.26 billion, coming out slightly ahead of consensus estimates of $2.25 billion. President and CEO Trevor Fetter said, "Our strategies drove a significant enhancement in earnings through the first three quarters of 2009, making this the second consecutive quarter in which weaEUR(TM)ve generated year-over-year Adjusted EBITDA growth of 50 percent or better." Commenting on outlook, he continued, "Given our strong year-to-date performance, we are raising our range for 2009 Adjusted EBITDA to $925 million to $975 million." The company's outlook for net income attributable to common shareholders for 2009 is $66 million to $130 million.
Write to Chip Brian at cbrian@tradethetrend.com
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