Tenet Healthcare reported second-quarter 2026 adjusted earnings per share of $6.12, beating the Zacks Consensus Estimate by 50% and rising 52.2% year over year. Net operating revenues grew 6.8% to $5.63 billion, exceeding the consensus by 4.4%, driven by strong same-facility revenue growth, higher patient acuity, disciplined expense management, and higher Medicaid supplemental revenues, though partly offset by an unfavorable payer mix from lower exchange admissions. Adjusted EBITDA climbed 16.3% to $1.3 billion, with the margin improving 190 basis points to 23.2%. The company raised its full-year 2026 guidance, now projecting net operating revenues of $21.9 billion to $22.5 billion, adjusted EBITDA of $4.83 billion to $5.03 billion, and adjusted EPS of $20.30 to $21.69, up from prior ranges. Tenet also repurchased 5.7 million shares for approximately $1 billion in the quarter and announced a $2 billion increase to its share repurchase authorization, leaving about $2.1 billion remaining.
Tenet Healthcare CorporationTenet beat Q2 earnings estimates, raised full-year guidance, and announced a $2B share buyback increase.
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