Tenet Q2 Loss Narrows

(RTTNews) - Tenet Healthcare Corp. (THC) reported a net loss for the second quarter of $26 million or $0.27 per share, compared to a net loss of $50 million or $0.49 per share for the year-ago quarter.

Loss from continuing operations for the second quarter was $10 million or $0.11 per share, compared to a loss from continuing operations of $53 million or $0.52 per share in the prior year quarter.

Excluding items, adjusted income from continuing operations for the second quarter was $17 million or $0.17 per share, compared to $69 million or $0.66 per share in the second quarter of last year.

Net operating revenue for the second quarter rose 66.9% to $4.04 billion from $2.42 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.01 per share on revenue of $3.94 billion for the second quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecast third quarter earnings to range between a loss of $0.30 per share and profit of $0.21 per share. Analysts currently expect the company to earn $0.49 per share for the third quarter.