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Tenet Healthcare THC Q1 2026 earnings

Reported April 30, 2026 · Before market open

Revenue$5.4BMiss by $25.4MDiluted EPS$4.82Beat by $0.61
Revenue estimate$5.4B
EPS estimate$4.21

Next report

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

Financials

Q1 2026

Income statement

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Revenue$5.4B+2.8%
Operating income$1.3B+37.4%
Net income$906.0M+45.7%
EPS (diluted)$8.01+87.6%

Balance sheet

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Cash & equivalents$3.0B-1.1%
Total debt$13.3B+0.2%
Total equity$4.8B+15.1%
Total assets$31.2B+6.7%

Cash flow

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Operating cash flow$1.6B+101%
CapEx$180.0M+4.0%
Free cash flow$1.5B+128%

Valuation & ratios

Valuation

as of 07/09/26
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Market cap$17.77B—
Enterprise value$28.09B—
P/E6.7×—
P/S0.8×—

Profitability

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Operating margin18%+0.4pp
Net margin12.4%+0.9pp
FCF margin15.6%—

Returns & leverage

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Return on equity58.9%-2.7pp
Debt / equity2.8×-0.4×
Current ratio1.4×-0.4×

Segments

By product

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Total$3.5B-0.2%
Managed care$2.4B-0.3%
Other revenues$574.0M+4.6%
Medicare$565.0M+3.1%
Medicaid$356.0M-6.3%

By segment

See full
Hospital Operations$4.0B+0.5%
Ambulatory Care$1.3B+10.6%

Versus estimates

Revenue

Q1 2026$5.4BMiss by $25.4M
Q4 2025$5.5BBeat by $55.1MQ3 2025$5.3BBeat by $33.6MQ1 2025$5.2BBeat by $84.8MQ4 2024$5.1BMiss by $95.8MQ3 2024$5.1BBeat by $73.4M

Diluted EPS

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

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Questions, answered.

When did Tenet Healthcare report Q1 2026 earnings?
Tenet Healthcare (THC) reported Q1 2026 earnings on April 30, 2026 before market open.
What were Tenet Healthcare's Q1 2026 revenue and EPS?
Tenet Healthcare reported revenue of $5.4B and diluted EPS of $4.82 for Q1 2026.
Did Tenet Healthcare beat estimates in Q1 2026?
Revenue missed the consensus estimate of $5.4B by $25.4M. EPS beat the consensus estimate of $4.21 by $0.61.
How did Tenet Healthcare's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 2.8% from $5.2B a year earlier and diluted EPS grew 10.6% from $4.36.
Where can I find Tenet Healthcare's Q1 2026 SEC filings?
You can read the 8-K earnings release (0000070318-26-000023) and the 10-Q periodic report (0000070318-26-000026) directly on SEC EDGAR. The filing index links above go to sec.gov.