Investors might want to bet on Tenet Healthcare (THC) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.The ...

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It has been about a month since the last earnings report for Tenet Healthcare (THC) . Shares have added about 15.2% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Tenet due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.How Have Estimates Been Moving Since Then?It tu ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...

纪要涉及的行业或者公司 - 行业：医疗保健行业，具体涉及门诊手术中心（ASC）和医院业务 [1][7] - 公司：Tenet Healthcare（THC）及其旗下的USPI，Conifer [1][12][49] 纪要提到的核心观点和论据 门诊手术中心（ASC）业务 - **行业增长前景**：ASC业务有巨大增长机会，长期呈上升趋势，创新可将手术转移到低成本护理环境，提供更好服务且安全有效 [7] - **增长驱动因素**：传统ASC受益于人口结构变化，如胃肠病学、耳鼻喉科、眼科等领域的创新；当前创新在于将高风险、高难度手术从医院转移到ASC，如骨科、脊柱手术、减肥手术等；拥有超150个非骨科通用外科机器人手术机会，不断拓展血管业务并试点电生理协议 [8][9] - **Q1业绩表现**：USPI Q1表现出色，高难度手术两位数增长，同店业务量基本持平，收入增长持续超预期，过去十多年同店增长率超6% [12][13][14] - **业务策略**：减少低难度手术，为高难度手术腾出空间，该策略成功，使收入增长超指引；注重每手术室分钟的收入和盈利能力，认为这是盈利能力、投资回报和吸引医生的关键指标 [13][20] - **竞争态势**：从收购资产价格看，竞争未加剧；传统MSO领域在整合，行业参与者在变化，大型医疗分销商收购MSO后资本投入方式可能改变 [22][23] 医院业务 - **业务策略**：重新开放因合同劳动力环境受限的市场容量，将部分容量用于当前服务线优先事项，如高难度手术、外科专科项目建设，确保急诊护理开放接入，成为农村地区紧急情况下的首选接收方 [31][32] - **业务表现**：Q1入院人数增长2.9%，需求环境良好，能在控制成本的同时满足需求，提高利润率；医院业务利润率持续改善，市场更具投资价值 [34][32][33] - **劳动力趋势**：劳动力环境稳定、可管理，包括人员保留、招聘、基本工资增长和合同劳动力等方面；合同劳动力占SWB的2%，处于疫情前低水平，不再是业务增长的限制因素 [37][40][42] - **定价前景**：商业费率方面，2025年几乎全部签约，2026年约70%签约，预计费率增长3% - 5%；谈判虽艰难，但公司有信心获得合理定价和网络；未发现拒付或预先授权方面的新变化；公司倾向与健康计划建立长期、可预测的关系，以减少摩擦 [45][46][50] 财务与资本部署 - **财务状况**：资产负债表杠杆率下降，自由现金流增加，2023 - 2024年自由现金流显著改善，Q1表现和指引显示将持续改善 [56][58] - **资本部署**：尽管政策存在不确定性，但公司业务仍具投资价值，将通过股票回购、资本支出和并购等方式将资金重新投入业务 [57] 政策影响 - **和解法案**：法案结果好于市场预期，被视为谈判起点；选民反对削减医疗补助和交易所税收补贴；现有项目的祖父条款重要，部分政策2029年才生效，公司专注于当前业务运营 [24][25][28] 其他重要但是可能被忽略的内容 - 公司在与医生合作的合资企业中，会适当将低难度业务转移到其他环境，为高难度工作腾出空间 [13] - Conifer在应对拒付和预先授权等问题上为Tenet增加了价值 [49]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-Q ý Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2025 OR ¨ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from __________ to Commission File Number: 1-7293 (Exact name of Registrant as specified in its charter) Nevada (State of Incorporation) 95-2557091 (IRS Employer Identification ...

Tenet Healthcare (THC) Q1 2025 Earnings Call April 29, 2025 10:00 AM ET Company Participants William McDowell - Vice President - Investor RelationsSaum Sutaria - Chairman of The Board & CEOSun Park - Executive VP & CFOCraig Hettenbach - Executive DirectorMeghan Holtz - VP, Healthcare Services Equity ResearchBen Hendrix - Vice PresidentWhit Mayo - Senior Managing DirectorBenjamin Rossi - Equity Research AssociateA.J. Rice - Managing DirectorAndrew Mok - DirectorJoshua Raskin - Partner - Managed Care & Provid ...

Tenet Healthcare (THC) Q1 2025 Earnings Call April 29, 2025 03:01 PM ET Speaker0 Good morning, and welcome to Tenant Healthcare's First Quarter twenty twenty five Earnings Conference Call. After the speakers' remarks, there will be a question and answer session for industry analysts. I'll now turn the call over to your host, Mr. Will McDowell, Vice President, Investor Relations. Mr. McDowell, you may begin. Speaker1 Good morning, everyone, and thank you for joining today's call. I am Will McDowell, Vice Pre ...

Tenet Healthcare (THC) reported $5.22 billion in revenue for the quarter ended March 2025, representing a year-over-year decline of 2.7%. EPS of $4.36 for the same period compares to $3.22 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $5.14 billion, representing a surprise of +1.64%. The company delivered an EPS surprise of +40.19%, with the consensus EPS estimate being $3.11.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

业绩总结 - 2025年第一季度调整后的EBITDA为11.63亿美元，超出第一季度预期范围的上限[8] - 2025年第一季度净营收为52.23亿美元[45] - 2025年第一季度每股摊薄收益增长35%至4.27美元[8] - 2025财年调整后的EBITDA预期为39.75亿至41.75亿美元，年增长率为7%[10] - 2025财年，预计可供Tenet Healthcare Corporation普通股东的净收入在10.57亿美元至12.02亿美元之间[50] 用户数据 - 第一季度同医院入院人数增长4.4%[9] - 2025年第一季度医院部门调整后的EBITDA增长为23%，不包括2024年已剥离医院的影响[8] 现金流与财务状况 - 2025年第一季度自由现金流为6.42亿美元，扣除非控股权益后的自由现金流为4.53亿美元[33] - 2025年第一季度，经营活动提供的净现金为8.15亿美元，较2024年的5.86亿美元增长39.1%[47] - 2025年第一季度，公司现金余额为30亿美元，未使用的信用额度为15亿美元[33] - 2025财年，预计自由现金流在18亿美元至20.5亿美元之间[56] - 2025财年，调整后的自由现金流预计在19亿美元至21亿美元之间[56] 未来展望 - 2025财年，净经营收入预计在206亿美元至210亿美元之间[53] - 2025财年，调整后的EBITDA预计在39.75亿美元至41.75亿美元之间，调整后的EBITDA占净经营收入的比例为19.3%至19.9%[53] 其他信息 - 2025年第一季度调整后的EBITDA利润率为22.3%[45] - 2025年第一季度，调整后的经营活动提供的净现金为8.51亿美元，较2024年的6.11亿美元增长39.4%[47] - 2025年第一季度，调整后的自由现金流为6.78亿美元，较2024年的3.71亿美元增长82.0%[47]