Tenet Healthcare (NYSE:THC) announced net loss for the fourth quarter of $ 229 million or $ 2.27 per share. The company generated operating revenue of $ 4.98 billion for the same period. While earnings per share surged 509 percent from the year-ago quarter, revenue advanced 2 percent.
On an adjusted basis, Tenet Healthcare revealed adjusted income from continuing operation of $ 1.40 a share for the fourth quarter. This topped analysts estimate by $ 0.15 a share while operating revenue exceeded street analysts expectation by $ 108 million.
Street analysts are looking for income of $ 1.25 per share on operating revenue of $ 4.87 billion for the fourth quarter. Analysts estimates are from Thomson Reuters, excludes one time gain or loss.
Ronald A. Rittenmeyer, EC and CEO, said: Volume growth returned in our hospital and Ambulatory segments, cost controls were tight, and our financial results at USPI and Conifer were very strong. Our cost control program is off to a great start and, when combined with improved financial performance in the fourth quarter, we are raising our Outlook for Adjusted EBITDA and Adjusted EPS for 2018.
For the twelve months period, THC disclosed net loss of $ 704 million or $ 7 per share from the operating revenue of $ 19.18 billion.
At the same time, Tenet Healthcare recorded twelve months adjusted earnings of $ 82.00 million or $ 0.81 per share.
Moving forward, Dallas, Texas based company anticipates first quarter earnings estimations to the range of $ -0.10 – $ 0.05 per share, while operating revenue for the first quarter to a range of $ 4.45 billion – $ 4.65 billion.
At the same time, THC updates 2018 earnings estimates to the range of $ 0.73 – $ 1.07 from $ 0.58 – $ 0.97 per share, where as operating revenue for the 2018 to a range of $ 17.90 billion – $ 18.30 billion from $ 17.80 billion – $ 18.20 billion.