Tenet Healthcare reported its fourth quarter 2017 financial results.
Here are 12 key findings.
Ambulatory segment - United Surgical Partners International
1. Net operating revenues were $545 million for the quarter, up 14 percent year over year.
2. Adjusted EBITDA hit $223 million, a 21.9 percent increase from the fourth quarter of 2016.
3. USPI's same-facility systemwide revenue increased 6.9 percent for the quarter.
4. Same-facility cases increased 4.6 percent for the quarter.
Full company
5. Net losses from continuing operations attributable to Tenet shareholders were $230 million, an increase when compared to the $79 million in net losses for the same period in 2016.
6. Adjusted EBITDA totaled $840 million, a year-over-year increase.
Hospital operations and other segment
7. Net operating revenues were nearly $4.18 billion, up 3.4 percent year over year.
8. Tenet's patient revenue increased 6.1 percent year over year to $4.13 billion.
9. Adjusted EBITDA was $538 million.
2018 outlook
10. Tenet raised its yearlong outlook. The company expects revenue between $17.9 billion and $18.3 billion for 2018.
11. Tenet expects net income attributed to shareholders between $95 million and $105 million.
12. The company expects to post adjusted diluted earnings between $0.73 to $1.07 per share for 2018.
Tenet Executive Chairman and CEO Ronald Rittenmeyer said, "Our results for the fourth quarter were strong in each of our business segments. Volume growth returned in our hospital and ambulatory segments, cost controls were tight, and our financial results at USPI and Conifer were very strong. Our cost control program is off to a great start and, when combined with improved financial performance in the fourth quarter, we are raising our outlook for adjusted EBITDA and adjusted EPS for 2018."