Tenet Healthcare Q1 revenue slightly misses, EPS beats estimates

Tenet Healthcare

30/04/2026 11:56

Overview

US hospital operator's Q1 net operating revenue rose 2.8%, slightly missing analyst expectations

Adjusted EPS for Q1 increased 10.6%, beating analyst expectations

Company recognized non-recurring revenue from early contract conclusion with CommonSpirit Health

Outlook

Tenet sees FY 2026 net operating revenues of $21.5 bln to $22.3 bln

Company expects FY 2026 adjusted EBITDA of $4.485 bln to $4.785 bln

Tenet forecasts FY 2026 adjusted diluted EPS of $16.38 to $18.68

Result Drivers

AMBULATORY SEGMENT GROWTH - Revenue growth in Ambulatory segment driven by higher net patient service revenue per case, acquisitions, and expanded service lines

HOSPITAL SEGMENT MIX - Modest hospital revenue growth due to higher adjusted admissions, offset by unfavorable payer mix and absence of prior-year Medicaid supplemental revenue

NON-RECURRING REVENUE - Recognized significant non-recurring revenue from early contract conclusion with CommonSpirit Health

Company press release: ID:nBwzpRRKa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Operating Revenue
Slight Miss*
$5.37 bln
$5.40 bln (17 Analysts)
Q1 Adjusted EPS
Beat
$4.82
$4.18 (19 Analysts)
Q1 EPS
$8.01


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the healthcare facilities & services peer group is "buy"

Wall Street's median 12-month price target for Tenet Healthcare Corp is $264.50, about 46.9% above its April 29 closing price of $180.10

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)