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Tenet: 1Q Earnings Snapshot

DALLAS (AP) _ Tenet Healthcare Corp. (THC) on Monday reported a first-quarter loss of $19 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Dallas-based company said it had a loss of 18 cents. Earnings, adjusted for one-time gains and costs, were 54 cents per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The hospital operator posted revenue of $4.55 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $4.53 billion.

For the current quarter ending in July, Tenet expects its per-share earnings to range from 29 cents to 63 cents.

The company said it expects revenue in the range of $4.4 billion to $4.7 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $4.46 billion.

Tenet expects full-year earnings in the range of $2.08 to $2.59 per share, with revenue ranging from $18 billion to $18.4 billion.

Tenet shares have risen 39% since the beginning of the year, while the Standard & Poor's 500 index has risen 17%. In the final minutes of trading on Monday, shares hit $23.81, a decline of nearly 2% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on THC at https://www.zacks.com/ap/THC