Reporting only a tiny loss due to one-time charges, Tenet Healthcare has announced third-quarter results suggesting that the for-profit hospital chain is holding its own as the economy recovers.
Tenet has posted a minimal net loss of $3 million on revenue of $2.262 billion for its third quarter. That's a significant step down from Q3 '08 profit of $104 million, but leaves it more or less stable, as the slight loss includes $5 million from discontinued operations and restructuring charges of $7 million.
Tenet didn't report changes in hospital admissions during the quarter, but it did boast a 4.8 percent gain in outpatient traffic, and a 2.2 percent growth in total surgeries. Generally speaking, analysts remain optimistic about Tenet's performance, noting that it's doing better than it has in the past at reducing employee turnover and managing labor utilization.
The company is now forecasting 2009 net income at anywhere from $66 million to $130 million.
To learn more about Tenet's performance:
- read this Dallas Business Journal piece
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