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Tenet Healthcare THC Q1 2025 earnings

Reported April 29, 2025 · Before market open

Revenue$5.2BBeat by $84.8MDiluted EPS$4.36Beat by $1.24
Revenue estimate$5.1B
EPS estimate$3.12

Next report

Jul 24, 2026 (In 2 weeks)
Revenue estimate$5.4B
EPS estimate$4.23

Financials

Q1 2025

Income statement

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Revenue$5.2B-2.7%
Operating income$943.0M-71.3%
Net income$622.0M-73.4%
EPS (diluted)$4.27-80.0%

Balance sheet

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Cash & equivalents$3.0B+20.9%
Total debt$13.3B+2.1%
Total equity$4.2B+21.1%
Total assets$29.2B+1.1%

Cash flow

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Operating cash flow$815.0M+39.1%
CapEx$173.0M-27.9%
Free cash flow$642.0M+85.5%

Valuation & ratios

Profitability

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Operating margin17.6%-7.2pp
Net margin11.5%-4.6pp

Returns & leverage

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Return on equity61.6%-81.3pp
Debt / equity3.2×-0.6×
Current ratio1.8×+0.3×

Segments

By product

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Total$3.5B-9.6%
Managed care$2.4B-9.6%
Other revenues$549.0M+5.0%
Medicare$548.0M-10.2%
Medicaid$380.0M-7.5%

By segment

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Hospital Operations$4.0B-7.9%
Ambulatory Care$1.2B+20.0%

Versus estimates

Revenue

Q1 2026$5.4BMiss by $25.4MQ4 2025$5.5BBeat by $55.1MQ3 2025$5.3BBeat by $33.6M
Q1 2025$5.2BBeat by $84.8M
Q4 2024$5.1BMiss by $95.8MQ3 2024$5.1BBeat by $73.4M

Diluted EPS

Q1 2026$4.82Beat by $0.61Q4 2025$4.70Beat by $0.63Q3 2025$3.70Beat by $0.36
Q1 2025$4.36Beat by $1.24
Q4 2024$3.44Beat by $0.49Q3 2024$2.93Beat by $0.60

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Questions, answered.

When did Tenet Healthcare report Q1 2025 earnings?
Tenet Healthcare (THC) reported Q1 2025 earnings on April 29, 2025 before market open.
What were Tenet Healthcare's Q1 2025 revenue and EPS?
Tenet Healthcare reported revenue of $5.2B and diluted EPS of $4.36 for Q1 2025.
Did Tenet Healthcare beat estimates in Q1 2025?
Revenue beat the consensus estimate of $5.1B by $84.8M. EPS beat the consensus estimate of $3.12 by $1.24.
How did Tenet Healthcare's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 2.7% from $5.4B a year earlier and diluted EPS grew 35.4% from $3.22.
Where can I find Tenet Healthcare's Q1 2025 SEC filings?
You can read the 10-Q periodic report (0000070318-25-000017) directly on SEC EDGAR. The filing index links above go to sec.gov.