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Tenet reports 4Q loss

DALLAS (AP) _ Tenet Healthcare Corp. (THC) on Monday reported a loss of $79 million in its fourth quarter.

The Dallas-based company said it had a loss of 79 cents per share. Earnings, adjusted for non-recurring costs, came to 6 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The hospital operator posted revenue of $5.21 billion in the period. Its adjusted revenue was $4.86 billion, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $4.97 billion.

For the year, the company reported that its loss widened to $192 million, or $1.93 per share. Revenue was reported as $19.62 billion.

For the current quarter ending in April, Tenet expects its results to range from a loss of 60 cents per share to a loss of 45 cents per share.

The company said it expects revenue in the range of $4.75 billion to $4.95 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $4.95 billion.

Tenet expects full-year earnings in the range of $1.05 to $1.30 per share, with revenue ranging from $19.7 billion to $20.1 billion.

Tenet shares have increased 53 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 6 percent. In the final minutes of trading on Monday, shares hit $22.67, a decrease of almost 9 percent 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


Keywords: Tenet Healthcare, Earnings Report