Tenet Healthcare reported its second quarter results for this year, ending June 30.
Here are 18 takeaways:
Ambulatory care segment
1. The company's net operating revenue totaled $442 million, a 37.3 percent increase from $322 in the second quarter last year.
2. On a pro forma same-facility system-wide basis, Tenet's revenue in this segment rose 11.7 percent. Cases rallied 5.2 and revenue per case increased 6.1 percent.
3. Adjusted EBITDA totaled $139 million, a 20.9 percent increase from $115 million in the same period of 2015.
Total company results
4. Tenet's net losses from continuing operations hit $44 million, or $0.44 per share, down from a net loss of $60 million in the same period the year prior.
5. Adjusted net income from continuing operations reached $38 million, or $0.38 per diluted share, down from $76 million during the second quarter of 2015.
6. Tenet's cash and cash equivalents were $656 million at the end of the quarter.
Conifer segment
7. Revenue rallied 13.5 percent, totaling $386 million. This figure is up from $340 million in the same period last year.
8. Adjusted EBITDA reached $63 million, a 5 percent increase from the same period last year.
Hospital operations and other segment
9. In this segment, net operating revenue totaled $4.202 billion, up from $4.175 billion in the same quarter last year.
10. Patient revenue reached $3.743 billion on a same-hospital basis.
11. Adjusted EBITDA reached $415 million, down 9.6 percent from the same period of 2015.
Uncompensated care
12. The company's provision for doubtful accounts was $352 million, which represents a 6.7 percent ratio of revenues before bad debt.
13. Uncompensated care cost totaled $1.201 billion.
2016 outlook
14. Tenet expects revenue to fall between $19.5 billion and $19.8 billion, and net losses from continuing operations to fall between $30 million and $65 million.
15. The company projects adjusted EBITDA to be between $2.4 billion and $2.5 billion.
16. Net cash by operating activities is expected to be between $1.2 billion and $1.3 billion.
Q3 outlook
17. Tenet expects revenue to fall between $4.75 billion and $4.85 billion.
18. The company projects income from continuing operations of $10 million and $25 million, and adjusted EBITDA to fall between $550 million and $600 million.
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