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Tenet Healthcare Earnings Calls
| Release date | Apr 30, 2026 |
| EPS estimate | $4.17 |
| EPS actual | $4.82 |
| EPS Surprise | 15.59% |
| Revenue estimate | 5.393B |
| Revenue actual | 5.368B |
| Revenue Surprise | -0.470% |
| Release date | Feb 11, 2026 |
| EPS estimate | $4.07 |
| EPS actual | $4.70 |
| EPS Surprise | 15.48% |
| Revenue estimate | 5.472B |
| Revenue actual | 5.527B |
| Revenue Surprise | 1.01% |
| Release date | Oct 28, 2025 |
| EPS estimate | $3.34 |
| EPS actual | $3.70 |
| EPS Surprise | 10.78% |
| Revenue estimate | 5.255B |
| Revenue actual | 5.289B |
| Revenue Surprise | 0.639% |
| Release date | Jul 22, 2025 |
| EPS estimate | $2.87 |
| EPS actual | $4.02 |
| EPS Surprise | 40.07% |
| Revenue estimate | 5.161B |
| Revenue actual | 5.271B |
| Revenue Surprise | 2.14% |
Last 4 Quarters for Tenet Healthcare
Below you can see how THC performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Jul 22, 2025 |
| Price on release | $155.97 |
| EPS estimate | $2.87 |
| EPS actual | $4.02 |
| EPS surprise | 40.07% |
| Date | Price |
|---|---|
| Jul 16, 2025 | $173.39 |
| Jul 17, 2025 | $175.14 |
| Jul 18, 2025 | $175.06 |
| Jul 21, 2025 | $174.65 |
| Jul 22, 2025 | $155.97 |
| Jul 23, 2025 | $158.31 |
| Jul 24, 2025 | $148.38 |
| Jul 25, 2025 | $153.02 |
| Jul 28, 2025 | $156.52 |
| 4 days before | -10.05% |
| 4 days after | 0.353% |
| On release day | 1.50% |
| Change in period | -9.73% |
| Release date | Oct 28, 2025 |
| Price on release | $204.62 |
| EPS estimate | $3.34 |
| EPS actual | $3.70 |
| EPS surprise | 10.78% |
| Date | Price |
|---|---|
| Oct 22, 2025 | $205.12 |
| Oct 23, 2025 | $206.91 |
| Oct 24, 2025 | $210.38 |
| Oct 27, 2025 | $216.17 |
| Oct 28, 2025 | $204.62 |
| Oct 29, 2025 | $209.14 |
| Oct 30, 2025 | $208.62 |
| Oct 31, 2025 | $206.49 |
| Nov 03, 2025 | $201.39 |
| 4 days before | -0.244% |
| 4 days after | -1.58% |
| On release day | 2.21% |
| Change in period | -1.82% |
| Release date | Feb 11, 2026 |
| Price on release | $226.35 |
| EPS estimate | $4.07 |
| EPS actual | $4.70 |
| EPS surprise | 15.48% |
| Date | Price |
|---|---|
| Feb 05, 2026 | $195.97 |
| Feb 06, 2026 | $201.37 |
| Feb 09, 2026 | $192.96 |
| Feb 10, 2026 | $193.04 |
| Feb 11, 2026 | $226.35 |
| Feb 12, 2026 | $232.26 |
| Feb 13, 2026 | $231.10 |
| Feb 17, 2026 | $234.25 |
| Feb 18, 2026 | $231.75 |
| 4 days before | 15.50% |
| 4 days after | 2.39% |
| On release day | 2.61% |
| Change in period | 18.26% |
| Release date | Apr 30, 2026 |
| Price on release | $177.12 |
| EPS estimate | $4.17 |
| EPS actual | $4.82 |
| EPS surprise | 15.59% |
| Date | Price |
|---|---|
| Apr 24, 2026 | $180.81 |
| Apr 27, 2026 | $185.53 |
| Apr 28, 2026 | $177.50 |
| Apr 29, 2026 | $180.10 |
| Apr 30, 2026 | $177.12 |
| May 01, 2026 | $183.27 |
| May 04, 2026 | $185.35 |
| May 05, 2026 | $186.91 |
| May 06, 2026 | $194.51 |
| 4 days before | -2.04% |
| 4 days after | 9.82% |
| On release day | 3.47% |
| Change in period | 7.58% |
Tenet Healthcare Earnings Call Transcript Summary of Q1 2026
Tenet reported a strong start to 2026 with consolidated net operating revenue of $5.4 billion and adjusted EBITDA of $1.162 billion (21.6% margin). Both segments outperformed expectations: USPI delivered $484 million of adjusted EBITDA (36.7% margin), driven by higher-acuity outpatient procedures, ASC M&A (seven acquisitions and three de novos in Q1) and strong same-facility revenue growth. The Hospital segment generated $678 million of adjusted EBITDA (16.7% margin) supported by disciplined expense management, throughput/length-of-stay initiatives and early AI/automation pilots that improved productivity. Management reaffirmed full-year 2026 guidance (midpoint adjusted EBITDA growth ~10% excluding certain items) while noting a dynamic operating environment (payer mix shifts, exchange enrollment uncertainty, weather and cyber-related disruptions). Tenet generated strong cash flow: $978 million adjusted free cash flow in Q1, $2.97 billion cash on hand, no draw on the revolver, leverage ~2.24x EBITDA, and repurchased 1.35 million shares for $318 million in Q1. Capital priorities remain USPI M&A (~$250M annual target), hospital growth investments, opportunistic buybacks, and debt management. Management emphasized flexibility to manage exchange/Medicaid volatility and confidence in delivering on 2026 targets.
