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Tenet Healthcare Corp (THC) stock

THCNYSEServices-General Medical & Surgical Hospitals, NECFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 29, 2026Score 13/3039% below fair value
$273.25+2.68 (+0.99%)

Close on Oct 30, 2026Market cap $22.00BP/E 7.9Yield –

Earnings

Tenet Healthcare's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.

Next report
Feb 10, 2027
Q4 FY2026 · estimated, before the open
Revenue, Q3 FY2026
$5.63B
+6.5% on a year earlier
Adjusted diluted earnings per share, Q3 FY2026
$6.64
$3.70 a year earlier
Latest guidance
Raised
Oct 29, 2026 · 6 items

Quarterly results

Revenue and earnings per share from each of Tenet Healthcare's earnings releases, newest first

QuarterReportedRevenueYoYEPSAdj. EPSSource
Q4 FY2026ended Dec 31, 2026Feb 10, 2027Expected–––––
Q3 FY2026ended Sep 30, 2026Oct 29, 2026before the open$5.63B+6.5%$12.41$6.64Release
Q2 FY2026ended Jun 30, 2026Jul 23, 2026during market hours$5.63B+6.8%$9.84$6.12Release
Q1 FY2026ended Mar 31, 2026Apr 30, 2026before the open$5.37B+2.8%$8.01$4.82Release
Q4 FY2025ended Dec 31, 2025Feb 11, 2026before the open$5.53B+9.0%$4.22$4.70Release
Q3 FY2025ended Sep 30, 2025Oct 28, 2025before the open$5.29B+3.3%$3.86$3.70Release
Q2 FY2025ended Jun 30, 2025Jul 22, 2025before the open$5.27B+3.3%$3.14$4.02Release
Q1 FY2025ended Mar 31, 2025Apr 29, 2025before the open$5.22B-2.7%$4.27$4.36Release
Q4 FY2024ended Dec 31, 2024Feb 12, 2025before the open$5.07B-5.7%$3.32$3.44Release
Q3 FY2024ended Sep 30, 2024Oct 29, 2024before the open$5.12B+1.1%$4.89$2.93Release
Q2 FY2024ended Jun 30, 2024Jul 24, 2024before the open$5.10B+0.4%$2.64$2.31Release
Q1 FY2024ended Mar 31, 2024Apr 30, 2024before the open$5.37B+6.9%$21.38$3.22Release

Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.

Current guidance

Tenet Healthcare's latest outlook for periods it has not reported yet, compared with what it said before

MetricPeriodGuidanceBeforeChangeGiven
Net operating revenuesGAAPFY2026$22.05B – $22.45B$21.50B – $22.30BRaisedOct 29, 2026
Net operating revenues 7GAAPFY2026$21.90B – $22.50B$21.50B – $22.30BRaisedJul 23, 2026
Same-facility system-wide revenuenon-GAAPFY2026+3% – +6%–NewFeb 11, 2026
Same-facility system-wide revenuesnon-GAAPFY2026+3% – +6%–NewJul 23, 2026
Same-facility system-wide revenuesFY2026+3% – +6%–NewApr 30, 2026
Adjusted EBITDAnon-GAAPFY2026$5.05B – $5.20B$4.49B – $4.79BRaisedOct 29, 2026
Adjusted EBITDAnon-GAAPFY2026$4.83B – $5.03B$4.49B – $4.79BRaisedJul 23, 2026
Diluted income per common shareGAAPFY2026$35.82 – $37.08$29.60 – $32.27RaisedOct 29, 2026
Diluted income per common shareGAAPFY2026$34.57 – $36.43$29.94 – $32.64RaisedJul 23, 2026
Adjusted diluted earnings per sharenon-GAAPFY2026$22.05 – $23.01$16.19 – $18.47RaisedOct 29, 2026
Adjusted diluted earnings per sharenon-GAAPFY2026$20.30 – $21.69$16.38 – $18.68RaisedJul 23, 2026
Adjusted free cash flownon-GAAPFY2026$2.83B – $3.13B$2.94B – $3.29BLoweredOct 29, 2026
Adjusted free cash flownon-GAAPFY2026$2.73B – $3.03B$2.94B – $3.29BRaisedJul 23, 2026
Capital expendituresFY2026$700.00M – $800.00M–NewOct 29, 2026
Capital expendituresGAAPFY2026$700.00M – $800.00M$700.00M – $800.00MReaffirmedJul 23, 2026
Capital expendituresGAAPFY2026$700.00M – $800.00M–NewFeb 11, 2026
Adjusted admissionsFY2026+1% – +2%–ReaffirmedApr 30, 2026
Adjusted EBITDA marginnon-GAAPFY202620.9% – 21.5%–NewApr 30, 2026
Adjusted EBITDA marginnon-GAAPFY202620.9% – 21.5%–NewFeb 11, 2026
Inpatient admissionsFY2026+1% – +2%–NewApr 30, 2026

Guidance vs results

The last range Tenet Healthcare gave before each report, against the figure it then reported. Full years add up the four quarters.

PeriodMetricGuidanceActualResult
FY2025Adjusted diluted earnings per share$15.93 – $16.26$16.78Σ4QAbove range
FY2025EPS (GAAP)$14.66 – $15.37$15.49Σ4QAbove range
FY2025Revenue$21.15B – $21.35B$21.31BΣ4QWithin range
FY2025Revenue growth+4% – +7%+3.12%Σ4QBelow range
Q4 FY2024Adjusted diluted earnings per share$2.69 – $3.31$3.44Above range
Q4 FY2024EPS (GAAP)$2.20 – $3.24$3.32Above range
Q4 FY2024Revenue$5.01B – $5.21B$5.07BWithin range
Q3 FY2024Adjusted diluted earnings per share$2.16 – $2.58$2.93Above range
Q3 FY2024EPS (GAAP)$2.01 – $2.47$4.89Above range
Q3 FY2024Revenue$5.00B – $5.10B$5.12BAbove range
Q2 FY2024Adjusted diluted earnings per share from continuing operations$1.58 – $1.98$2.31Above range
Q2 FY2024EPS (GAAP)$1.49 – $1.93$2.64Above range

Guidance history

Every forecast Tenet Healthcare put in an earnings release, newest first

GivenMetricPeriodGuidanceChange
Oct 29, 2026Capital expendituresFY2026$700.00M – $800.00MNew
Oct 29, 2026Adjusted EBITDAFY2026$5.05B – $5.20BRaised
Oct 29, 2026Adjusted diluted earnings per shareFY2026$22.05 – $23.01Raised
Oct 29, 2026Diluted income per common shareFY2026$35.82 – $37.08Raised
Oct 29, 2026Adjusted free cash flowFY2026$2.83B – $3.13BLowered
Oct 29, 2026Net operating revenuesFY2026$22.05B – $22.45BRaised
Jul 23, 2026Capital expendituresFY2026$700.00M – $800.00MReaffirmed
Jul 23, 2026Same-facility system-wide revenuesFY2026+3% – +6%New
Jul 23, 2026Adjusted EBITDAFY2026$4.83B – $5.03BRaised
Jul 23, 2026Adjusted diluted earnings per shareFY2026$20.30 – $21.69Raised
Jul 23, 2026Diluted income per common shareFY2026$34.57 – $36.43Raised
Jul 23, 2026Adjusted free cash flowFY2026$2.73B – $3.03BRaised
Jul 23, 2026Net operating revenues 7FY2026$21.90B – $22.50BRaised
Apr 30, 2026Capital expendituresFY2026$700.00M – $800.00MNew
Apr 30, 2026Same-facility system-wide revenuesFY2026+3% – +6%New
Apr 30, 2026Adjusted EBITDAFY2026$4.49B – $4.79BNew
Apr 30, 2026Adjusted diluted earnings per shareFY2026$16.38 – $18.68New
Apr 30, 2026Diluted income per common shareFY2026$29.94 – $32.64New
Apr 30, 2026Free cash flowFY2026$2.94B – $3.29BNew
Apr 30, 2026Adjusted free cash flowFY2026$2.50B – $2.80BLowered

Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.

Press releases

Releases Tenet Healthcare filed with the SEC as exhibits to Form 8-K or 6-K

  1. Results
  2. Update
  3. Update
  4. Results
  5. Results
  6. Results
  7. Results
  8. Update
  9. Update
  10. Results
  11. Results
  12. Results
  13. Results
  14. Results
  15. Update