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Tenet Healthcare THC Q2 2026 earnings

Reported July 22, 2026 · Before market open

Revenue$5.6BBeat by $196.4M
EPS$6.12Beat by $1.86
Revenue estimate$5.4B
EPS estimate$4.26
“We are actively navigating current industry dynamics through excellent operational execution, investments in innovation, and a continued focus on higher acuity services to sustain growth, margins and significant free cash flow.”
Saum Sutaria

Next report

Oct 27, 2026 (in 2 months)
Revenue estimate$5.5B
EPS estimate$4.66

Financials

Q2 2026

Income statement

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Revenue$5.6B+6.8%
Operating income$1.5B+82.4%
Net income$1.0B+100%
EPS (diluted)$9.84+213%

Balance sheet

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Cash & equivalents$2.2B-17.3%
Total debt$13.4B+1.1%
Total equity$4.7B+24.2%
Total assets$30.7B+6.9%

Cash flow

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Operating cash flow$585.0M-37.5%
CapEx$168.0M-13.0%
Free cash flow$417.0M-43.9%

Valuation & ratios

Valuation

as of 06/30/26
See full
Market cap$16.11B+1.1%
Enterprise value$27.35B+3.0%
P/E5.1×-1.6×
P/S0.7×0.0×

Profitability

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Operating margin20.8%+3.0pp
Net margin14.6%+3.0pp
FCF margin13.9%—

Returns & leverage

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Return on equity75.5%+9.1pp
Debt / equity2.9×-0.7×
Current ratio1.4×-0.3×

Segments

By product

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Total$3.7B+6.2%
Managed care$2.5B+1.9%
Other revenues$572.0M+4.4%
Medicare$534.0M+0.8%
Medicaid$505.0M+33.2%

By segment

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Hospital Operations$4.2B+6.0%
Ambulatory Care$1.4B+9.3%

FAQ

When did Tenet Healthcare report Q2 2026 earnings?
Tenet Healthcare (THC) reported Q2 2026 earnings on July 22, 2026 before market open.
What were Tenet Healthcare's Q2 2026 revenue and EPS?
Tenet Healthcare reported revenue of $5.6B and eps of $6.12 for Q2 2026.
Did Tenet Healthcare beat estimates in Q2 2026?
Revenue beat the consensus estimate of $5.4B by $196.4M. EPS beat the consensus estimate of $4.26 by $1.86.
Where can I find Tenet Healthcare's Q2 2026 SEC filings?
You can read the 8-K earnings release (0000070318-26-000032) and the 10-Q periodic report (0000070318-26-000037) directly on SEC EDGAR. The filing index links above go to sec.gov.