Tenet Healthcare (THC) reports earnings tomorrow: what to expect
Hospital operator Tenet Healthcare (NYSE:THC) will be reporting results this Thursday before market open. Here’s what to look for.
Tenet Healthcare beat analysts’ revenue expectations last quarter, reporting revenues of $5.63 billion, up 6.8% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.
Is Tenet Healthcare a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Tenet Healthcare’s revenue to grow 4.3% year on year, improving from the 3.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Tenet Healthcare has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Tenet Healthcare’s peers in the healthcare providers & services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. HCA Healthcare delivered year-on-year revenue growth of 3.6%, beating analysts’ expectations by 3%, and Universal Health Services reported revenues up 5.3%, in line with consensus estimates.
Read our full analysis of HCA Healthcare’s results here and Universal Health Services’s results here.
There has been positive sentiment among investors in the healthcare providers & services segment, with share prices up 3.6% on average over the last month. Tenet Healthcare is up 2% during the same time and is heading into earnings with an average analyst price target of $286.41 (compared to the current share price of $263.21).
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