Hospital Operator Tenet Healthcare Exceeds Earnings Expectations, Announces Share Buyback Of $1.5B
Portfolio Pulse from Vandana Singh
Tenet Healthcare Corporation (NYSE: THC) reported strong Q1 earnings, with sales of $5.37 billion, beating the consensus of $5.15 billion. The company announced a $1.5 billion share buyback program and raised its FY 2024 revenue guidance. Adjusted EBITDA for Q2 2024 was $945 million, up from $843 million a year ago. THC stock rose 5.28% following the news.
July 24, 2024 | 2:21 pm
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Tenet Healthcare Corporation (NYSE: THC) reported strong Q1 earnings, beating expectations with sales of $5.37 billion. The company announced a $1.5 billion share buyback program and raised its FY 2024 revenue guidance. Adjusted EBITDA for Q2 2024 was $945 million, up from $843 million a year ago. THC stock rose 5.28% following the news.
The strong earnings report, share buyback announcement, and raised revenue guidance are positive indicators for Tenet Healthcare's stock. The market has already reacted positively, with the stock rising 5.28%. These factors suggest a likely short-term upward movement in the stock price.
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RELEVANCE 100