Latest News

Dow Jones Newswires: Tenet Healthcare Q4 profit slides

0

Tenet Healthcare Corp.’s profit dropped in the fourth quarter after revenue and grant income related to the Covid-19 pandemic declined.

The Dallas-based healthcare services company THC, -3.90% on Monday reported net income of $249 million in the quarter, compared with income of $414 million in the same period a year earlier. Earnings per share reached $2.29 from $3.86 a year earlier and earnings per share from continuing operations fell to $2.30 from $3.92.

Tenet posted revenue of $4.86 billion in the quarter, down from $4.92 billion a year earlier. Covid-related pre-tax stimulus grant income fell to $140 million in the quarter from $446 million a year earlier.

The company said it expects to have fiscal year 2022 adjusted earnings per share in a range from $5.86 to $7.05 and sees income from continuing operations available to common shareholders in a range from $5.46 a share to $6.16 a share.

Tenet also said that it plans to retire $700 million of 7.5% senior secured notes due in 2025 with savings of about $53 million per year.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

Crypto: Crypto is volatile, but KPMG Canada just added bitcoin and ether to its balance sheet. Here’s why

Previous article

Market Snapshot: Dow finishes flat, while S&P 500 and Nasdaq close lower in choppy start to the week

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News