Tenet Healthcare Lowers 2017 Outlook - Quick Facts

(RTTNews) - Tenet Healthcare Corporation (THC) announced, for 2017, the company now expects: adjusted earnings per share from continuing operations attributable to shareholders of $0.69 to $0.99; and revenue of $19.1 billion to $19.4 billion. In May, the company projected its 2017 EPS in the range of $1.05 to $1.30 and revenue in the range of $19.7 - $20.1 billion. Tenet said the company updated 2017 outlook to reflect a range of factors, including the divestiture of the hospital operations in Houston, which closed on July 31, 2017.

The company's outlook for the third quarter of 2017 includes: an adjusted loss per share from continuing operations attributable to shareholders ranging from a loss of $0.35 to a loss of $0.20; and revenue of $4.6 billion to $4.8 billion.

Second-quarter adjusted net loss from continuing operations attributable to Tenet shareholders was $17 million, or $0.17 per share compared to adjusted net income from continuing operations attributable to shareholders of $40 million, or $0.40 per share, in the second quarter of 2016. Same-hospital patient revenue increased 0.4% and reflected a 1.9% increase in revenue per adjusted admission offset by a 1.4% decline in adjusted admissions.