Q2 2024 Tenet Healthcare Corp Earnings Call Transcript
Key Points
- Tenet Healthcare Corp (THC) reported net operating revenues of $5.1 billion for Q2 2024, exceeding expectations.
- Consolidated adjusted EBITDA grew by 12% year-over-year to $945 million, with an adjusted EBITDA margin of 18.5%.
- USPI segment delivered strong performance with $447 million in adjusted EBITDA, representing 21% growth over Q2 2023.
- Same-facility revenues for USPI grew by 7.1%, with orthopedic volumes showing significant strength.
- THC raised its full-year 2024 adjusted EBITDA guidance to a range of $3.825 billion to $3.975 billion, reflecting strong organic performance.
- Hospital segment's adjusted EBITDA grew by only 5.3%, which is lower compared to the USPI segment.
- Hospital outpatient surgical growth was down by 3%, indicating a potential shift or decline in this area.
- Contract labor expenses, although reduced, still pose a challenge in managing overall costs.
- The integration of newly acquired centers, while on track, may still present operational risks.
- Medicaid redetermination and payer mix shifts could introduce variability in future revenue streams.
Good morning. Welcome to Tenet Healthcare's second-quarter 2024 earnings conference call. (Operator Instructions) I'll now turn the call over to your host, Mr. Will McDowell, Vice President of Investor Relations. Mr. McDowell, you may begin.
Good morning, everyone and thank you for joining today's call. I am Will McDowell, Vice President of Investor Relations. We're pleased to have you join us for a discussion of Tenet's second quarter 2024 results as well as a discussion of our financial outlook. Tenet senior management participating in today's call will be Dr. Saum Sutaria, Chairman and Chief Executive Officer; and Sun Park, Executive Vice President and Chief Financial Officer.
Our webcast this morning includes a slide presentation, which has been posted to the Investor Relations section of our website, tenethealth.com. Listeners to this call are advised that certain statements made during our discussion today are forward-looking and represent management's expectations based
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
