TENET HEALTHCARE CORP
SymbolTHC

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

Tenet Reports 50% Increase in Adjusted EBITDA for Third Quarter

2009-11-03 07:30 ET - News Release

Outlook Range Raised to $925 Million to $975 Million for 2009 Adjusted EBITDA; 2009 Net Income Outlook Range of $66 Million to $130 Million

Key Metrics (all percentage changes compare Q3’09 data to Q3’08 unless otherwise noted):

  • $240 million in total-hospital adjusted EBITDA, an increase of 50%
    • 10.6% Adjusted EBITDA margin, an increase of 310 basis points
    • $236 million in same-hospital Adjusted EBITDA, an increase of 45.7%
  • Operating income increased to $133 million, compared to $70 million in Q3’08
  • Net loss attributable to common shareholders of $3 million, compared to net income attributable to common shareholders of $104 million in Q3’08, which included pre-tax gains of $140 million on sales of investments
    • Net loss per share of $0.01, compared net income of $0.22 per share in Q3’08
  • $731 million in cash and cash equivalents at Sept. 30, 2009, an increase of $224 million since Dec. 31, 2008
  • Adjusted Free Cash Flow from continuing operations of $142 million, an increase of $106 million from Q3’08
    • Net cash provided by operating activities of $284 million in year-to-date 2009, compared to $141 million in the nine months ended Sept. 30, 2008
    • $91 million in capital expenditures in continuing operations in Q3’08
  • Same-hospital bad debt ratio of 8.5% of net revenues, an increase of 90 basis points from 7.6% in Q3’08, and an increase of 110 basis points from 7.4% in Q2’09
  • 0.6% decrease in controllable expenses per adjusted patient day (same-hospital)
  • 4.2% increase in commercial managed care revenues (same-hospital)
  • Volume Metrics (same-hospital)
    • 0.1% increase in total admissions; 0.1% decrease in paying admissions
    • 4.8% increase in outpatient visits; 5.3% increase in paying outpatient visits
    • 2.2% increase in total surgeries; 4.4% increase in outpatient surgeries
    • 4.5% decrease in commercial managed care admissions; flat commercial managed care outpatient visits

The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try, click here for a free 30 day trial subscription.