Tenet Healthcare beats third-quarter estimates and raises 2026 outlook
Revenue came in at $5.63 billion, above the $5.57 billion expected.
Published
Tenet Healthcare reported third-quarter earnings of $6.64 per share, $1.97 more than expected. Revenue was $5.63 billion, against $5.57 billion expected. The company also raised its full-year 2026 outlook.
Saum Sutaria, M.D., Chairman and CEO, said the third-quarter result came from "sustained same-store revenue growth and effective expense management."
Tenet now expects net operating revenue of $22.05 billion to $22.45 billion for 2026. It expects adjusted EBITDA of $5.05 billion to $5.20 billion, a rise of $195 million at the midpoint. Its adjusted free cash flow range is $2.825 billion to $3.125 billion, up $100 million. Adjusted diluted earnings per share are now expected in a range of $22.05 to $23.01.
This is the second quarter in a row that Tenet has raised its 2026 outlook. Its second-quarter release also lifted guidance. The revised outlook now rests on whether same-store revenue growth and expense management hold through the fourth quarter. The higher cash flow range gives the raise a cash element that the earnings beat alone does not show. Whether the earnings range proves conservative will depend on the same two drivers.
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