Tenet Healthcare (THC) Stock Surges 23% After Massive Earnings Beat
TLDR
- Tenet Healthcare stock jumped 23% after posting Q2 adjusted EPS of $6.12, crushing the $4.26 analyst estimate
- Tenet raised its full-year EPS guidance to $20.30–$21.69, up from $16.38–$18.68
- HCA Healthcare rose a more modest 3.7% after reiterating pre-announced Q2 results
- HCA cut its full-year EPS outlook to $28.70–$30.50, down from $29.10–$31.50
- Barclays raised its Tenet price target to $271 from $240, maintaining an Overweight rating
Tenet Healthcare (THC) stock surged 23% on Friday, putting it on pace for its biggest single-day gain since February. The move came after the company posted Q2 results that blew past Wall Street expectations and sharply lifted its full-year outlook.
Tenet Healthcare Corporation, THC
Tenet reported Q2 adjusted earnings of $6.12 per share, well ahead of the $4.26 analysts had forecast. Operating revenue rose 6.8% to $5.63 billion, topping the expected $5.43 billion.
The company also raised its full-year adjusted EPS guidance to a range of $20.30 to $21.69, up from the prior range of $16.38 to $18.68. Full-year net operating revenue guidance was lifted to $21.9 billion–$22.5 billion, versus the previous $21.5 billion–$22.3 billion.
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