Tenet profit up, full-year view trimmed on delayed payment

Wed Nov 7, 2012 8:32am EST

Nov 7 (Reuters) - Tenet Healthcare Corp reported higher third-quarter earnings on Wednesday as the volume of outpatient surgeries at its facilities rose, but it scaled back its full-year profit outlook due to a delayed payment from a California Medicaid program.

The hospital operator posted earnings of $40 million, or 37 cents a share, compared with $6 million, or 5 cents a share, a year earlier.

Tenet said it expected full-year adjusted earnings of about $1.2 billion before interest, tax, depreciation and amortization. It previously forecast 2012 EBITDA of $1.25 billion to $1.375 billion.