Tenet Healthcare Reports Third-Quarter Loss Of $366 Million
The company has implemented new cost controls and 1,300 job cuts. It attributes part of the loss to less volume because of the hurricanes that struck Texas and Florida.
Tenet Posts Operating Loss Of $366 Million In Third Quarter
Tenet Healthcare Corp., Dallas, reported a net loss from continuing operations in the third quarter of $366 million, up from a loss of $9 million a year earlier. Same-hospital patient revenue fell 2.3% to $3.777 billion from $3.867 in the same respective periods, according to the company. (Barr, 11/6)
Dallas Morning News:
Tenet Healthcare Reports A Quarterly Loss That's 45 Times Higher Than Last Year
Shares of Dallas-based hospital operator Tenet Healthcare continued to dip in after hours trading on Monday as the company reported a third quarter loss of $367 million. That’s about 45 times higher than the loss reported at the same time last year. The company slashed its annual earnings outlook by about $50 million. At $12.65 per share, the ailing health care company’s stock is at a five-year low. (Rice, 11/6)