Tenet Healthcare Q4 profit beats on increased Medicaid supplemental revenue

Tenet Healthcare

11/02/2026 11:53

Overview

Healthcare services firm's Q4 net operating revenue rose, beating analyst expectations

Adjusted EPS for Q4 increased 36.6%, beating analyst expectations

Company repurchased 0.94 mln shares for $198 mln in Q4 2025

Outlook

Tenet expects FY 2026 adjusted EBITDA between $4.485 bln and $4.785 bln

Company projects FY 2026 net income at $2.605 bln to $2.840 bln

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

Result Drivers

SAME-FACILITY REVENUE GROWTH - Strong growth in same-facility net patient service revenues contributed to Q4 2025 results

FAVORABLE PAYER MIX - Increased Medicaid supplemental revenues and favorable payer mix boosted Q4 2025 net operating revenues

EXPENSE MANAGEMENT - Disciplined expense management supported higher adjusted EBITDA in Q4 2025

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Net Operating Revenue
Beat
$5.53 bln
$5.47 bln (17 Analysts)
Q4 Adjusted EPS
Beat
$4.70
$4.05 (19 Analysts)
Q4 EPS
$4.22


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "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 $240.00, about 24.3% above its February 10 closing price of $193.04

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nBw7c3SZHa

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(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.)