- Tenet Healthcare's ("THC") Q2 2021 financial results saw its net income jump 36% as same-hospital adjusted admission and same-facility ambulatory surgical cases rose significantly.
- Despite the strong results, shares are down 7.3% to $67 in after-hours trading.
- In the quarter, same-hospital adjusted admissions increased 23.9% compared to the prior-year-period.
- Same-facility system-wide ambulatory surgical surged 68.2% versus Q2 2020.
- Q2 non-GAAP EPS of $1.59 beat by $0.52 while revenue $4.95B (+35.6% Y/Y) by $170M.
- Tenet also raised its FY 2021 outlook. Net income from continuing operations available to common shareholders is now expected to be $6.25 to $7.17 per diluted share, up from $2.98 to $4.69 per diluted share.
- In addition, the company sees net operating revenues for the year of between $19.25B and $19.65B.